Mentioned:
Iceland’s largest commercial airline wants to get in on sustainable aviation fuel. And they’re partnering up with a publicly traded company to do it.
What’s happening:
- Syntholene Energy (TSXV: ESAF) has landed an expression of interest from Icelandair to supply them with 20,000 tonnes of synthetic sustainable aviation fuel
By the numbers:
- The new potential supply deal would take place over 10 years and would see Syntholene Energy supply Icelandair with approximately 25M litres of synthetic sustainable aviation fuel
Why it matters:
- The European Union previously introduced regulation for airlines to begin purchasing minimum amounts of sustainable aviation fuel to be blended into traditional jet fuel in order to begin reducing the overall carbon emissions of commercial aircraft operators
Going deeper:
- Syntholene Energy is developing a demonstration facility located Iceland which is aiming to deploy their propriety Hybrid Thermal Production System for sustainable fuels
- Syntholene Energy’s Hybrid Thermal Production System uses combined heat and electricity to target sustainable fuel production at roughly 70% than other competing technology
The fine print:
- Pricing for the new potential supply deal between Syntholene Energy and Icelandair has not yet been finalized
