This week sees Amsterdam's sustainable aviation fuel company SkyNRG raise €175 million in funding.
Founded 14 years ago, SkyNRG is at the forefront of developing sustainable aviation fuel (SAF), supplying the world’s first commercial flight using SAF in 2011. Today, the company provides SAF to airlines and corporations worldwide, such as Boeing and KLM Royal Dutch Airlines, and is one of the leading and most active participants in the SAF market.
The SAF industry benefits from voluntary corporate offtake commitments aligned to net-zero targets and growing political and regulatory support. By 2050, SkyNRG estimates that such incentives will create demand for up to €650 billion of investment in the sector and accelerate the aviation industry’s transition from fossil jet fuels.
Based on SkyNRG’s own life cycle analysis, using its SAF in jets can result in a minimum emissions reduction of 75 percent compared to fossil jet fuel over its lifespan.
This new investment was led by Macquarie Asset Management’s specialist Green Investments team and will support SkyNRG’s next growth phase through the development and operation of SAF production facilities.
By 2030 SkyNRG aims to build its dedicated SAF facilities in Europe and the US in cooperation with strategic offtake partners.
Philippe Lacamp, CEO of SkyNRG, commented:
“It is critical that SAF production capacity is developed now to enable the aviation industry to meet its net-zero goals.
We are very proud that Macquarie has made this strategic investment in our business and are confident that they, with the ongoing support of our existing shareholders, will provide us with the resources and expertise we need to accelerate our growth journey towards becoming a major player in the SAF industry.”
Mark Dooley, Global Head of MAM Green Investments, said:
“We have a track record for backing businesses working at the forefront of the energy transition. This is an exciting milestone for us, as our first SAF investment.
SkyNRG has been a pioneer in SAF, with an entrepreneurial spirit and a strong commercial focus. We look forward to collaborating with the SkyNRG team as they grow their business and advance solutions to decarbonise the aviation industry.”
Lead image: Photo by Rocker Sta