BioFuels and SAF – News Roundup
There is solid momentum happening behind the scenes for Northwest Advanced Bio-Fuels LLC, as we move ever closer to the construction of a facility to produce and supply Delta Air Lines with 60+ million gallons of sustainable aviation fuel annually.
As we continue to forge new partnerships with world-class engineering firms to fill the role of Owner’s Engineer, Project Manager, and eventually Construction Manager, the SAF and biofuels world continues to grow. Here are a few recent news stories that are indicative of the future growth we will all see in this sector.
Agriculture & Biofuels Industry Group Pushes for SAF Tax Credit
A group of biofuel and agriculture industry associations teamed up recently to send a letter to the U.S. Senate members to outline their recommendations for the SAF tax credit. You can read the letter in full at the link.
The undersigned groups are:
- American Farm Bureau Federation
- Growth Energy
- National Biodiesel Board
- National Corn Growers Association
- National Farmers Union
- Renewable Fuels Association
The letter comes at a time when the U.S. Senate and House of Representatives are considering legislation to establish a tax credit to promote and develop sustainable aviation fuel (SAF) this year.
New Partnerships in SAF
The SAF industry has notched another high-profile partnership, helping its credibility to grow. In late July, Boeing, SkyNRG, and SkyNRG Americas announced a partnership to help grow the use and availability of sustainable aviation fuels (SAF) globally. Boeing will also invest in SkyNRG Americas’ SAF production project. Read more at the link.
White House targeting 2050 for all jet fuel to be from renewable sources
The White House administration is said to be targeting 2050 as the year for all U.S. airlines to fly on 100% jet fuel from renewable sources. To do this, CNBC reports that
“The Biden administration is contemplating incentives to support private-sector production of sustainable aviation fuel (SAF) as it searches for ways to eliminate greenhouse gas emissions in the hard-to-electrify aviation industry.”
The article continues to note that “Global demand for jet fuel currently totals roughly 200 billion liters a year, but airline trade group IATA estimates just 100 million to 120 million liters of SAF will be produced in 2021 – just 0.05% of overall fuel.”
COVID 19 Impact on Biodiesel Demand
A new market research study predicts that the global biodiesel market could hit $50.1 billion by 2027. This is despite the devastating COVID-19 pandemic has had on our economy in the past 18 months.
The report notes that manufacturing activities and logistic operations have seen a dip in the biodiesel market due to COVID. However, once the pandemic subsides and the economy recovers, demand for biodiesel products is expected to stabilize.
World Biofuel Day (Aug 10) – We recently marked World Biofuel Day, a day that’s marked to build greater awareness about the significance of non-fossil fuels to eventually replace conventional fossil fuels. Biofuels help to safeguard energy security by diminishing the population’s reliance on fossil energy sources.
To stay on top of news about biofuels, renewables, and sustainable energy, check these informative sites:
These are some of the stories that caught our eye in recent weeks. Hope they are of interest to you. Click here to read more about the NWABF SAF Project, which when completed, will produce and supply 60+ million gallons of SAF annually for Delta Air Lines. We are a committed team that’s excited for the future of sustainable aviation fuel.
David P. Smoot
David Smoot has an extensive background in Project Development, including the Financing and Technology Integration for those Projects. Mr. Smoot also held positions of upper management with leading companies in the Computer Software and Hardware industries, including the Financing and Leasing industries specifically related to those industries prior to moving into the renewable energy industry which morphed into renewable fuels. Smoot has created a turnkey solution model not yet seen in the industry.