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Willis Sustainable Fuels (UK) Limited Enters into Master Services Agreement with McDermott
Key Milestone in Development of Advanced Sustainable Aviation Fuel (SAF) Facility in the UK COCONUT CREEK, Fla., Nov. 20, 2024 (GLOBE NEWSWIRE) -- Willis
About this update from Willis Lease Finance Corporation
[{"type":"text","content":"Key Milestone in Development of Advanced Sustainable Aviation Fuel (SAF) Facility in the UK\nCOCONUT CREEK, Fla., Nov. 20, 2024 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) (“WLFC” or the “Company”), the leading lessor of commercial aircraft engines and provider of global aviation service operations, today announces its subsidiary, Willis Sustainable Fuels (UK) Limited (“WSFL”), has entered into a master services agreement (MSA) with McDermott for early engineering, procurement and construction (EPC) related services for its SAF initiative. The agreement commences with WSFL’s first planned SAF facility, supported by the UK Government’s Advanced Fuels Fund, with a capacity of producing 50,000 litres per day of SAF in Teesside, with the parties intending to enter into a sole-source negotiation of the EPC scope in 2025. WSFL intends to deploy technology which produces next-generation SAF, either Biogas-to-Liquid (BtL) or Power-to-Liquid (PtL), depending on the feedstock. “Our partnership with McDermott on one of the UK’s most advanced sustainable aviation fuel projects represents a key milestone in our ongoing efforts to be a leader in aviation decarbonization. This collaboration underscores our commitment to working with industry leaders who share our vision for a cleaner, more sustainable future,” said Amy Ruddock, Senior Vice President, Sustainable Aviation & Corporate Development of Willis Lease Finance Corporation, WSFL’s parent company. “This agreement is testament to McDermott’s expertise in integrating design, fabrication and installation, and our capabilities across low carbon solutions,” said Rob Shaul, McDermott’s Senior Vice President, Low Carbon Solutions business. “We are well positioned to offer WSFL a self-perform EPC model via our strategic relationship with Bilfinger UK, which is expected to further reduce risk and drive cost optimizations.” For more information on Willis Lease Finance Corporation and the Company’s comprehensive aviation services, visit www.wlfc.global. About Willis Lease Finance Corporation Willis Lease Finance Corporation (“WLFC”) leases large and regional spare commercial aircraft engines, auxiliary power units and aircraft to airlines, aircraft engine manufacturers and maintenance, repair, and overhaul providers worldwide. These leasing activities are integrated with eng...