Aemetis signed an offtake agreement has been signed with oneworld Alliance airline member Finnair for 17.5 million gallons of blended sustainable aviation fuel (SAF) to be delivered over the 7-year term of the agreement. The value of the contract including incentives is approximately $70 million.
Sustainable aviation fuel provides environmental benefits compared to petroleum jet fuel, including a lower lifecycle carbon footprint and reduced contrails. The blended sustainable aviation fuel to be supplied under this agreement is 40% SAF and 60% Petroleum Jet A to meet international blending standards.
The sustainable aviation fuel is expected to be produced by the Aemetis renewable jet/diesel plant under development on a 125 acre former US Army Ammunition production plant site in Riverbank, California. The blended sustainable aviation fuel is scheduled to begin deliveries to Finnair in 2025.
Powered by 100% renewable electricity, the Aemetis Carbon Zero production plant at the Riverbank plant site is designed to sequester CO2 from the production process using injection wells, significantly reducing the carbon intensity of the renewable fuel.