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Stakeholders testify in support of Michigan bill to create SAF tax credit

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By Erin Voegele

March 19, 2024

BusinessMarketsPolicy

The Michigan Senate Committee on Energy and Environment on March 14 held a hearing to consider legislation introduced last year that aims to create a tax credit to support the purchase of sustainable aviation fuel (SAF).

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New Energy Blue on March 18 announced the formation of New Energy Chemicals. In phase one, the biochemical subsidiary will produce biobased ethylene for use in Dow’s renewable plastics. In phase two, the subsidiary will expand to SAF production.

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Ethanol Producer Magazine announced this week the preliminary agenda for the 2024 International Fuel Ethanol Workshop & Expo (FEW) taking place June 10-12, 2024 at the Minneapolis Convention Center in Minneapolis, Minnesota.

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A first of its kind breakfast at Heathrow, named The Fly Up, which is cooked with oil that is then cleaned and recycled into renewable biofuels, took off on March 12. The initiative aims to boost awareness of SAF.

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Tidewater Renewables Ltd. on March 14 announced that its 3,000-barrel-per-day renewable diesel facility in Prince George, British Columbia, is currently operating at near nameplate capacity. Work is also progressing on proposed plans to produce SAF.

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Neste has merge its three renewable business units into one Renewable Products business unit as well as restructure its functions to better support business-driven ways of working. Plans for the restructuring were announced last year.

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Avfuel Corp. and Neste finalized a partnership extension that keeps the companies at the forefront of sustainable aviation fuel (SAF) supply for business aviation, cementing their leadership positions in the sustainable space.

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Aemetis Inc. released fourth quarter financial results on March 7, reporting the company achieved important milestones in its biodiesel, RNG, ethanol, SAF and carbon capture business segments last year.

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Gevo Inc. has reported that efforts are continuing to secure a U.S. DOE loan guarantee to support the construction of its proposed SAF facility. Gevo also reported that its RNG project in Iowa operated at 91% capacity during Q4.

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Following Ryanair’s purchase of 500 metric tons of sustainable aviation fuel (SAF) from OMV in October 2023, the airline on March 8 announced that it will take an additional 500 metric tons of SAF from OMV in 2024.

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Bunge Chevron Ag Renewables LLC, a joint venture of Bunge and Chevron, on March 4 celebrated the groundbreaking of a new oilseed processing facility in Louisiana. The plant is expected to be operational in 2026.

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SAF One, a platform focused on the development of global SAF solutions, announces the appointment of engineering firm Kent to carry out a technology licensing review for its first synthetic paraffinic kerosene (SPK) production plant.

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Willis Sustainable Fuels (UK) Limited, the wholly owned subsidiary of Willis Lease Finance Corp., announced that Redcar and Cleveland Borough Council has approved the plans for its Carbonshift PtL SAF refinery project in England.

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Aemetis Inc. on March 5 announced receipt of the Authority to Construct air permits for its planned sustainable aviation fuel (SAF) and renewable diesel (RD) production plant in Riverbank, California.

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Montana Renewables was recognized as the Groundbreaker of the Year and Jason Kessler, president at KESCO Inc., was presented with the Excellence in Bioenergy Award at the 17th Annual International Biomass Conference & Expo.

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Neste has launched its new emission reduction solution, Neste Impact, for businesses looking to reduce the carbon footprint of their air travel and transport activities. The solution is based on purchasing Neste MY Sustainable Aviation Fuel.

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FS has received the ISCC international certification attesting that its production process meets international requirements for the production and supply of ethanol and corn oil for the production of SAF.

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Total U.S. operable biofuels production capacity fell slightly in December, according to data released by the U.S. Energy Information Administration. Total feedstock consumption was up when compared to both the previous month and December 2022.

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Sugar Valley Energy, a new 160-acre bioenergy campus planned in California’s Imperial Valley has added New York-based TerraNova Capital Equities, Inc. to its finance team to lead marketing and placement of equity capital for the $1 billion project.

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Southwest Airlines Co. has launched Southwest Airlines Renewable Ventures, a wholly-owned subsidiary dedicated to creating more opportunities to obtain scalable SAF. The carrier also announced a $30 million investment in LanzaJet Inc.

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EIA: D4, D6 RIN prices decline 45% from start of year

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By U.S. Energy Information Administration

February 29, 2024

The price of compliance credits for biomass-based diesel and ethanol has decreased about 45% since the start of the year, when prices were already the lowest in about three years, according to the U.S. Energy Information Administration.

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Yield10 Bioscience Inc. on Feb. 14 announced it has granted VISION Bioenergy Oilseeds LLC a global license to certain proprietary varieties of camelina sativa for the production of feedstock oil for biofuels.

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The U.S. Department of Energy and the U.S. EPA on Feb. 22 released a funding opportunity announcement (FOA), entitled, “Inflation Reduction Act Funding for Advanced Biofuels,” for up to $9.4 million for the development of advanced biofuels.

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Calumet released Q4 financial results on Feb. 23, announcing that Montana Renewables returned to normal operations in December following the replacement of a cracked steam drum and providing an update of the company’s proposed MaxSAF initiative.

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CVR Energy Inc. released Q4 results on Feb. 20, reporting that the feedstock pretreatment unit at its Wynnewood refinery in Oklahoma is mechanically complete. The company is also continuing to evaluate projects to add SAF capacity at two refineries.

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Ampaire Inc. has achieved a significant milestone in sustainable aviation by completing its first ground test utilizing pure 100 percent ASTM D7566 SAF produced by Dimensional Energy from electricity and CO2.

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Cepsa and Bio-Oils, a subsidiary of Apical, are beginning construction of the largest second-generation biofuels plant in southern Europe. The facility will have the flexibly produce 500,000 tons of SAF and renewable diesel.

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The U.S. Department of Energy has announced its intent to issue funding to support research and development (R&D) projects for converting algae and other wet waste feedstocks to low-carbon fuels, chemicals and agricultural products.

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Technip Energies announces a strategic investment in the United Airlines Ventures Sustainable Flight Fund, which is designed to leverage cross-industry support, providing start-ups working on SAF research, production and technology.

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A Pennsylvania refinery operated by a subsidiary of Delta Air Lines Inc. is evaluating the possibility of producing sustainable aviation fuel (SAF) and other renewable fuels, according to information contained in the company’s annual report.

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