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WIZZ INVESTS IN SUSTAINABLE AVIATION FUEL PRODUCER
WIZZ INVESTS IN SUSTAINABLE AVIATION FUEL PRODUCER.
About this update from Wizz Air Holdings Plc
[{"type":"text","content":"\n\n \nWIZZ AIR INVESTS £5M IN SUSTAINABLE AVIATION FUEL PRODUCER FIREFLY\n· First equity investment in biofuel company will allow Wizz Air to supply sustainable aviation fuel (SAF) to its UK operations from 2028\n· The £5m investment will support the development and certification of SAF produced from sewage sludge\n· Partnership with Firefly has the potential to save 1.5m tonnes of CO2-eq1\n \n24 April 2023: Wizz Air, Europe's fastest growing and most environmentally sustainable airline globally2, today announces a £5 million investment in a biofuel company, Firefly. This is Wizz Air's first equity investment in sustainable aviation fuel (SAF) research and development. The partnership with Firefly will allow the airline to supply SAF to its UK operations from 2028, up to 525,000 tonnes over 15 years. The agreement has the potential to save 1.5 million tonnes of CO2-eq.\nFirefly specialises in a process, which converts sewage sludge, a low-value waste product available in large quantities, into SAF. More than 57 million tonnes of sewage sludge are produced in the UK each year, with the potential to produce 250,000 tonnes of SAF.\nFirefly's SAF, which will be independently certified against the leading sustainability standard RSB, is projected to deliver a 90% reduction in greenhouse gas emissions compared to fossil jet fuel on a life cycle basis3 Firefly aims to have its first commercial plant operating within the next 5 years4.\nThe agreement with Firefly and investment in new SAF technology represents the latest milestone in Wizz Air's broader sustainability strategy, including its ambitious fleet renewal plan and already efficient low-cost operations with the latest technology aircraft and high seat density and load factors. This will further strengthen Wizz Air's position as an industry leader in sustainability and drive its commitment to reducing its carbon emissions per passenger/km by 25% by 2030.\nIn 2022, Wizz Air achieved its lowest-ever annual carbon intensity which amounted to 55.2 grams per passenger/km, representing a 15% reduction year-on-year. To achieve this, the airline has invested heavily in its fleet by adding new and replacing older aircraft with the Airbus A321neo aircraft. The Airbus A321neo aircraft incorporates the latest technology, offeri...