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Aemetis Signs MOUs with Eight Airline Members of the oneworld Alliance for 350 Million Gallons of Sustainable Aviation Fuel
CUPERTINO, CA, Nov. 30, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Aemetis, Inc. (NASDAQ: AMTX), a renewable fuels company focused on negative carbon
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[{"type":"text","content":"CUPERTINO, CA, Nov. 30, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Aemetis, Inc. (NASDAQ: AMTX), a renewable fuels company focused on negative carbon intensity products, announced today that memorandums of understanding have been signed with 8 airline members of the oneworld Alliance for 350 million gallons of blended fuel containing sustainable aviation fuel (“SAF”) to be delivered to San Francisco International Airport. Once finalized, the agreements will cover the delivery of sustainable aviation fuel over a seven-year term beginning in 2024. oneworld members including Alaska Airlines, American Airlines, British Airways, Cathay Pacific, Finnair, Iberia, Japan Airlines and Qatar Airways will look to utilize the sustainable aviation fuel for their operations at San Francisco Airport, with the potential for additional oneworld members to participate in the coming months. The blended sustainable aviation fuel is 40% sustainable aviation fuel and 60% petroleum jet fuel to meet international blended sustainable aviation fuel standards. Today’s announcement follows a joint request for proposals by oneworld member airlines to fuel suppliers – marking the first such effort announced by a global airline alliance to purchase sustainable aviation fuel and furthering the alliance’s commitment to the decarbonization of aviation. It builds upon the alliance’s target of 10% sustainable aviation fuel use across the alliance by 2030 and underlines the alliance’s commitment to collectively source sustainable aviation fuel. oneworld was the first global airline alliance to commit to net zero emissions by 2050 – with sustainable aviation fuel a crucial pillar in oneworld’s pathway to carbon neutrality. The sustainable aviation fuel will be produced at the Aemetis Carbon Zero plant currently under development in Riverbank, California. The facility will use waste wood to produce cellulosic hydrogen, which is then combined with wastes and non-edible sustainable oils and zero carbon intensity hydroelectric electricity to produce sustainable aviation fuel. Sustainable aviation fuel has a significant environmental advantage over traditional jet fuel, with an up to 100% reduction in greenhouse gas emissions on a lifecycle basis. It is a vital solution in the decarbonization of aviation in the near and medium-term, particularly for longer-haul flights. ...