Avfuel Announces Multi-Million Dollar Investment in Alder Fuels

Avfuel Corp. announced a multi-million dollar investment in Alder Fuels, a cleantech company pioneering ground-breaking technologies for the large-scale production of sustainable aviation fuel (SAF).

Avfuel is making this investment through its subsidiary, Avfuel Technology Initiatives Corporation (ATIC).

Alder Fuels converts abundant biomass, such as regenerative grasses and forestry and agricultural residues, into sustainable, low-carbon crude oil that replaces fossil crude oil in existing refineries producing aviation fuel. When calculating the carbon lifecycle of fuel production from field to wingtip, Alder’s technology has the ability to produce ultra-low carbon crude oil that, when refined, meets the current jet fuel specifications. Alder’s SAF-refined biocrude is currently undergoing global certification as a 100% direct replacement for petroleum-based jet fuel and expects SAF to be available in 1Q24.

As part of the deal, Avfuel will purchase 1 billion gal. of SAF over a 20-year period, and use SAF to supply business and commercial aviation globally. The Avfuel purchase agreement is the first-ever long-term drawdown from a fuel supplier, making the partnership the largest publicly announced SAF agreement in business aviation history and opening up the leads to the achievement of business aviation’s commitment to achieve net zero status by 2050.

“Avfuel is committed to providing sustainable solutions to its customers, including business aviation, fixed operators and airlines,” said CR Sincock, executive vice president of Avfuel. “We have been a forerunner in delivering SAF to business aviation and this transformative agreement builds on our commitment to lead its adoption. Avfuel is investing through ATIC to ensure SAF is available and we are excited to partner with Alder to develop the fuel globally. This is a significant milestone in the history of business aviation adoption of SAF, but we realize Net zero goals will require a collective industry-wide effort to deliver and adopt sustainable fuels. Only together can we reach this new height.

According to the US Department of Energy (DOE), US forestry and agricultural residues alone could provide enough biomass energy to generate more than 17 billion gallons. of jet fuel and replace 75% of aviation fuel consumption in the United States. If the United States were to widely adopt regenerative farming practices, which capture more carbon in healthier soil compared to traditional methods, the United States could generate an additional seven billion gallons. of SAF, which would completely replace the country’s current consumption of fossil jet fuel.

“Imagine if we could eliminate the harmful carbon added to our atmosphere when refining petroleum into jet fuel. Alder’s technology realizes this dream by converting globally available biomass into scalable green crude oil to meet the demand of the world. aerospace industry at a cost competitive with oil,” said Bryan Sherbacow, CEO of Alder Fuels. “Today, Avfuel’s historic SAF contract and investment once again demonstrates its global leadership in the fuel supply for business and commercial aviation by helping Alder and the industry establish an international logistics and supply network for zero-carbon SAFs.”

Prior to founding Alder, Sherbacow built the world’s first SAF refinery in conjunction with Honeywell and United Airlines in Paramount, California, USA. Alder’s research is supported by the US Defense Logistics Agency, the DOE, and a partnership with the DOE’s National Renewable Energy Laboratory (NREL), focused on developing technology to transform organic waste and non-living plant matter. sustainable food into carbon-negative transportation fuels.

Read the article online at: https://www.hydrocarbonengineering.com/clean-fuels/17062022/avfuel-announces-multi-million-dollar-investment-in-alder-fuels/

Comments are closed.