Avolon partners with global aviation leaders to launch SAF feasilibility study in Ireland
Avolon, the international aircraft leasing company, has announced a collaboration with Boeing, ORIX Aviation, SFS Ireland and SkyNRG, to conduct a feasibility study into the production of Sustainable Aviation Fuel (SAF) in Ireland.
This partnership reflects Avolon and its partners’ commitment to taking a leading role in helping develop future technologies that reduce the aviation sector’s carbon footprint.
The study is being led by SFS Ireland and SkyNRG with the goal of identifying market level opportunities for an investable commercial-scale SAF production facility in Ireland. The study will be completed in 2023.
The planned growth of renewable energy sources in country makes Ireland a potential location for SAF production. As a global leader in aviation finance and airline operations, Ireland is home to key stakeholders in aviation’s decarbonization journey.
SAF is a commercially used fuel that reduces lifecycle emissions by up to 80%, creating the opportunity to significantly lower aviation’s reliance on fossil fuels, as well as its overall emissions. IATA, the trade association of the world's airlines, sees SAF playing a key role in helping aviation reach its net zero target by 2050 – a target that has been set by its member airlines - contributing to c.65% of the reduction in emissions needed.
Andy Cronin, Avolon CEO commented: “It’s imperative that the aviation sector delivers on its promise to invest in innovation to reduce its carbon footprint. We are delighted to be partnering with a team of global experts that have a shared ambition of being at the forefront of sustainable innovation that will reshape the future of aviation. The path to net zero requires a combination of new technology aircraft and large-scale deployment of SAF, and this project will help deliver sustainable solutions to accelerate decarbonization.”
“We will need a massive increase in the amount of SAF if we are to reach our industry’s commitment to net zero carbon emissions by 2050," said Sheila Remes, Boeing Vice President, Environmental Engagement and Business Development. "Scaling SAF is paramount. Ireland’s growth in renewable energy makes it a prime location for SAF production with zero climate impact. Global partnerships like this enable us all to advocate for and scale SAF supply.”
James Meyler, ORIX Aviation CEO commented: “We are delighted to be a part of this project which we see as being an important step in the roadmap to decarbonising aviation. We are looking forward to bringing value to this partnership of global experts by leveraging the ORIX Group’s expertise. Further development and large scale commercialisation of SAF is a critical milestone for the industry to reach together and this project will help deliver on that.”
“Aviation has a rich history in Ireland, embedded in over 50 years of innovation and leadership," said Darren Carty, SFS Ireland. "As pilots, we understand and acknowledge the importance of delivering SAF to the market and see the Irish aviation industry as a central player in the mission to decarbonise air transport globally. We are proud to be a part of this exciting new team, forging a path toward a cleaner, brighter, and more sustainable future.”
Philippe Lacamp, SkyNRG CEO added: “The aviation industry will rely on a number of pathways to meet its net-zero 2050 targets and collaboration with global experts to help drive innovation in SAF is key to being successful. We are proud to be working with Avolon, Boeing, ORIX Aviation, and SFS Ireland on this feasibility study. Each new SAF research project brings us one step closer to identifying what production pathways and sustainable feedstocks are available and helping evaluate how best to assist the aviation industry in meeting mandated targets. The outcome of this study will be of great value to Ireland’s aviation sustainability journey.”
BlueSky Business Aviation News | 17th November 2022 | Issue #678