Published by Todd Bush on November 14, 2023
HydrogenPro's collaborative partner, DG Fuels, recently announced the strategic cooperation with Air France – KLM. The latter has made an investment in DG Fuels "to support the completion of the development work necessary to reach the Final Investment decision".
PORSGRUNN, Norway, Nov. 13, 2023 /PRNewswire/ -- HydrogenPro's collaborative partner, DG Fuels, announced on Friday, November 10th, the strategic cooperation with Air France – KLM. The latter has made an investment in DG Fuels "to support the completion of the development work necessary to reach the Final Investment decision". The group has invested USD 4.7 million in the SAF (Sustainable Aviation Fuel) producer. HydrogenPro has been contracted as the supplier of electrolyzers for the plant in a potential 500 million USD deal, excluding life cycle services.
In addition to the investment Air France-KLM «acquired an option to purchase up to 25 million gallons / 75 000 tons of SAF annually over a multi-year period beginning in 2029. This option comes in addition to the long-term offtake contract announced by Air France-KLM and DG Fuels last year.
>>Read about HydrogenPro Completing Electrolyser Delivery to World Leading Validation Center
Compared to conventional fuel, the use of SAF can reduce emissions by an average of 80% and is considered more energy-efficient, providing airlines with operational advantages in addition to environmental benefits.
In April this year the European Commission announced ReFuelEU Aviation proposal, including:
1) Aviation fuel suppliers to supply a minimum share of SAF at EU airports, starting at 2% of overall fuel supplied by 2025 and reaching 70% by 2050. The new EU jet fuel blend will need to also contain a minimum share of the most modern and environmentally-friendly synthetic fuels, which increases over time;
2) Aircraft operators departing from EU airports to refuel only with the fuel necessary for the flight, to avoid emissions related to extra weight or carbon leakage caused by 'tankering' practices (deliberately carrying excess fuel to avoid refueling with SAF);
3) Airports to ensure that their fueling infrastructure is available and fit for SAF distribution.
"SAF is an important part of decarbonizing the aviation industry. We are happy to play an integral role as we are delivering our green hydrogen technology to transform the aviation sector through our collaboration with DG Fuels" says HydrogenPro CEO, Jarle Dragvik.
SOURCE HydrogenPro ASA
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 💰 Gevo Sells Carbon Credits from North Dakota Asset ⚡ US Companies CPS Energy, Modern Hydrogen Agree to Work on Clean Power Generation Project ✈️ ESAF Takes Flight: Power-to-Liqu...
Inside This Issue 💰 Gevo Transforms Carbon Waste Into Market Gold 🛫 CADO and 4AIR Harmonize SAF Registries for Commercial and Business Aviation 🌊 Vortex Energy Receives Government Approval for Amb...
Inside This Issue 🌎 US Carbon Capture Race: $77B Industry Shifts Global Balance 🛠️ NETL Releases Tool To Calculate Costs of Geologic Carbon Storage Projects in the Gulf of America ✈️ Avia Solution...
SLB Awarded Carbon Storage Contract for Northern Endurance Partnership Project in UK
Global energy technology company SLB (NYSE: SLB) has been awarded a technologies and services contract for carbon storage site development in the North Sea by the Northern Endurance Partnership (NE...
SANTA MONICA, Calif. & HOUSTON—Carbon Ridge, a leading developer of onboard carbon capture and storage solutions for the maritime industry, has achieved a shipping industry first with the succe...
Decarbontek Launches Commercial Production and Sale of Breakthrough Low-Cost MOF for Carbon Capture
BOSTON--Decarbontek, Inc., a leader in carbon capture and removal technologies, today announced the commercial availability of DCF-1 (De-Carbon Framework -1), a groundbreaking, low-cost, high-perfo...
Amogy, a provider of scalable and efficient ammonia-to-power solutions, today announced a landmark partnership with GreenHarvest, a Taiwan-based renewable energy firm, to deploy the first-ever ammo...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.