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AIR COMPANY raises $69M in Series B to commercialize carbon utilization technology and SAF

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By Air Company

September 20, 2024

Business

AIR COMPANY on Sept. 18 announced it has raised $69 million in Series B funding to advance its carbon conversion technology. Avfuel, a leading global supplier of aviation fuel and services, led the round.

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The U.S. EPA has announced that 2.06 billion RINs were generated under the RFS in August, down from 2.07 billion generated during the same month of last year. Total RIN generation for the first eight months of 2024 reached 16.49 billion.

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Less than two weeks after Fulcrum BioEnergy Inc. and affiliated companies filed for Chapter 11 bankruptcy protection, the assets of Fulcrum Sierra Biofuels LLC and Fulcrum Bioenergy Inc. are being offered for sale at auction.

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Fiji Airways is collaborating with The Fiji Sugar Corp. Ltd. (FSC) and Lee Enterprises Consulting to evaluate the feasibility of sustainable aviation fuel (SAF) production in Fiji. The collaboration is funded by The Asian Development Bank.

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Comstock Inc. on Sept. 18 announced the execution of a binding agreement between Comstock Fuels Corp. and SACL Pte. Ltd. related to three biofuel sites under development in Australia to produce 300 MMgy of SAF and renewable fuels.

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Neste, ITOCHU and GS Caltex have collaborated to make the first batch of CORSIA-eligible ISCC-certified sustainable aviation fuel (SAF) available for purchase at Narita International Airport in Japan.

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Infinium and Brookfield Asset Management on Sept. 10 announced a strategic funding partnership to accelerate the growth of Infinium’s eFuels platform. Infinium eFuels, which includes eSAF, can reduce lifecycle GHG emissions by approximately 90%.

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United and the San Francisco 49ers on Sept. 18 announced that the team has become the first in the NFL to purchase SAF. The team has purchased enough SAF to cover its game-related flying on United from San Francisco to Los Angeles on Sept. 22.

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Haffner Energy announces SAF Zero spin-off

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By Haffner Energy

September 17, 2024

Haffner Energy has announced the creation of SAF Zero, a spin-off focused on the sustainable aviation fuel (SAF) market. SAF Zero aims to fully leverage SAFNOCA, Haffner Energy's advanced technology.

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Legislation introduced in the California State Assembly on Sept. 11 aims to prevent the California Air Resources Board from amending the state’s Low Carbon Fuel Standard regulations prior to Jan. 1, 2026.

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An oil refinery located in Scotland planned for decommissioning next year could find new life as a sustainable aviation fuel (SAF) production facility thanks to a joint investment plan announced by the U.K. and Scottish governments on Sept. 12.

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Fulcrum BioEnergy files for bankruptcy

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By Erin Voegele

September 16, 2024

Fulcrum BioEnergy Inc. and affiliated companies Fulcrum Seirra Holdings and Fulcrum Sierra Finance Co. on Sept. 9 filed voluntary petitions for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware.

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Summit Next Gen LLC has closed on its site acquisition for the future development of its previously announced SAF production platform. The 60-acre site is located on the Houston Ship Channel in Texas.

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Simply Blue Group has announced the Goldboro site in Nova Scotia, Canada formerly proposed as Goldboro Liquified Natural Gas Project, as the location for their major sustainable aviation fuels (SAF) hub.

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Gevo Inc. on Sept. 12 announced it has entered into a definitive agreement to acquire the ethanol production plant and CCS assets of Red Trail Energy LLC for $210 million. Gevo plans to add net-zero SAF production capacity to the site.

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On Sept. 11, SK Energy, the largest refiner in South Korea and a subsidiary of SK Innovation, announced the completion of the nation’s first dedicated sustainable aviation fuel (SAF) production line.

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Neste has revised down its 2024 guidance for renewable products, citing substantially reduced diesel prices. The company said waste and residue feedstock prices have not decreased and renewable product market price premiums have remained weak.

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The U.S. Energy Information Administration on Sept. 10 began publishing new monthly forecasts for renewable diesel and other biobased fuels to better capture how biofuels are being consumed and overall demand for distillate fuels.

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GREATER MSP Partnership has announced major developments and celebrated a year of accomplishments toward operating the first large-scale, end-to-end sustainable aviation fuel (SAF) value chain in the United States.

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More than three dozen members of the U.S. House of Representatives are urging the U.S. Treasury Department to ensure only fuels manufactured from domestically sourced feedstocks qualify for the upcoming 45Z Clean Fuel Production Credit.

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On Aug. 30, Korean Air began using domestically produced SAF for the first time on flight KE719 from Seoul Incheon to Tokyo Haneda. Korean Air is the first Korean flag carrier to operate commercial flights partially powered by SAF produced in Korea.

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The U.S. Department of Energy Bioenergy Technologies Office (BETO) is overseeing a call for industry partnerships to connect industry stakeholders with the capabilities of the Feedstock-Conversion Interface Consortium.

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Operable U.S. biofuels production capacity increased in June, with gains for both ethanol and renewable diesel, according to data released by the U.S. Energy Information Administration on Aug. 30. Feedstock consumption was up for the month.

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LanzaTech Global Inc. has signed a master license agreement with SEKISUI CHEMICAL CO. LTD. to deploy, at commercial scale, a jointly developed platform that converts syngas derived from MSW and industrial solid waste into ethanol.

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Avflight Mesa, in partnership with leading aviation fuel supplier, Avfuel Corp., is excited to announce it now offers an emission-reducing fuel option: sustainable aviation fuel (SAF). The first truckload of SAF arrived on Aug. 28.

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SAFFiRE Renewables LLC broke ground on its pilot plant at Conestoga Energy’s Arkalon Energy facility in Liberal, Kansas, marking a significant step in SAFFiRE’s journey to transform corn stover into an abundant low carbon feedstock for SAF.

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SAF Magazine has announced the six companies selected to pitch to a group of investors at Pitch Day at the 2024 North American SAF Conference & Expo, taking place Sept. 11-13 at the Saint Paul RiverCentre in Saint Paul, Minnesota.

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Cepsa Bioenergia San Roque SL (CBSR), a joint venture between Cepsa and Bio-Oils (subsidiary of Apical), has awarded Worley a services contract for the expansion of CBSR’s renewable fuel complex in Huelva, Spain, including a new biofuel plant.

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Acer, Cathay Cargo, and Dimerco Express Group are joining forces to reduce carbon emissions in aviation. Acer and its logistics provider Dimerco have signed an agreement to SAF use on Cathay Cargo's flights, beginning from 2024.

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The government of Brazil on Aug. 22 announced it will offer R$6 billion ($1.09 billion) to support the development of biorefineries to produce sustainable aviation fuel (SAF) and sustainable marine fuels.

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