Investment Firm APG Commits €250 Million for Expansion of SkyNRG's Sustainable Jet Fuel Infrastructure
SkyNRG, a leading sustainable aviation fuel (SAF) provider, has announced a significant investment round of up to €250 million. This investment comes from global pension asset manager APG on behalf of Dutch pension fund APB, and returning investor Macquarie Asset Management (MAM).
Kate Vidgen, Chair of the Board of SkyNRG and Operating Partner at MAM, stated that the aviation industry continues to be a hard-to-abate sector, and meeting the demand for sustainable aviation fuel remains a key challenge. This investment, she said, will help SkyNRG scale up industrial-scale SAF production to address the growing demand from the aviation sector aiming for net-zero carbon emissions by 2050.
The funds will be used to develop and construct new dedicated SAF production facilities in three key locations: Delfzijl in the Netherlands, Sweden, and the United States. The U.S. site, being built in Eastern Washington, has a projected capacity of 50 million gallons per year of SAF and renewable fuels.
SkyNRG's CEO, Maarten van Dijk, expressed his excitement about the company's ambition to become a major SAF producer. He emphasised that the investment from APG and MAM will help pave the way for global SAF adoption.
Arjan Reinders, Head of Infrastructure Europe at APG, praised SkyNRG as a frontrunner in the SAF market. He added that the investment demonstrates that the SAF market is ready for facilities dedicated solely to the production of SAF.
SkyNRG has been working with various actors from across the industry, including OEMs, technology providers, corporates, and airlines. The company's platform now includes a portfolio of capacity development projects, R&D activities, advisory services, and a range of commercial innovative customer programs.
MAM is pleased to welcome this additional investment from APG and to work alongside them and the SkyNRG management team to grow the business and support the decarbonisation of the industry together.
To date, SkyNRG has supplied SAF to over 50 airlines globally. The company was the first in the world to supply SAF on a commercial flight in 2011. Following a €175 million investment by Macquarie in 2023, SkyNRG shifted from sourcing, blending, and distributing SAF to becoming a major SAF producer.
This latest investment round brings SkyNRG's total funding to approximately €300 million. SkyNRG, founded in 2009, aims to build up SAF capacity to help the aviation sector meet its 2050 net zero commitment. The company has appointed Richard Gort, formerly of TenneT and Shell, as its new Chief Operating Officer to support this phase of growth and operational execution.
The projects in Delfzijl, Sweden, and the U.S. exemplify SkyNRG’s international ambition to lead SAF supply and help close the gap between current SAF production and future aviation industry demand.
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