Renewable fuel producer and bio refiner Velocys announced Monday a partnership with British Airways, Suez and Norma to construct a renewable jet fuel facility.
The plant, which would be based in the UK, would create the renewable fuel by converting thousands of tons of post-recycled waste slated to be landfilled or burned.
The new, cleaner-burning jet fuel would achieve a 60% reduction in greenhouse gases and a 90% reduction in particulate matter compared to conventional aviation fuel. Velocys expects the recent changes to the UK’s Renewable Transport Fuels Obligation (RTFO) to benefit the project by allowing for jet fuel to qualify for RTFO credits.
In the partnership, Velocys would be responsible for the technology, project management, engineering, technical service, and operations of the renewable jet fuel plant, while British Airways plans to incorporate this sustainable fuel into its fleet. Water treatment and waste management utility company Suez will oversee the feedstock supply and administer operational and technical guidance, with future investment in the project to be funded by Norma, an affiliate of Ervington Investments, the largest investor in Velocys.
The project’s initial feasibility stage will be completed by Velocys and funded by all partners. Pending the completion of this stage, Velocys hopes to reach a final investment decision in 2019.
Velocys chief executive David Pummell stated that “this opportunity leverages further our technology, integrated plant design and skills base, and is consistent with our renewable fuels strategy of delivering integrated plant solutions, in collaboration with partners, to fulfill a real market need.”