Sunita Somvanshi
In a significant move for the sustainable aviation fuel (SAF) industry, Macquarie Asset Management has committed up to €175 million to SkyNRG through the Macquarie GIG Energy Transition Solutions (MGETS) Fund. This investment aims to bolster SkyNRG’s growth, helping it reach its goal of becoming a key SAF producer. SkyNRG, a pioneer in SAF since its inception over 14 years ago, has played a crucial role in the market, supplying the first commercial flight with SAF in 2011. Today, it continues to be a leader in SAF, providing fuel to airlines and corporates worldwide.
The SAF sector is gaining momentum, driven by corporate commitments to net-zero targets and increasing political and regulatory backing. Key initiatives like the European blending mandate (ReFuelEU) and the Biden Administration’s SAF Grand Challenge and the Inflation Reduction Act in the US are propelling the industry forward with strong tax incentives. By 2050, SkyNRG anticipates these incentives could spur up to €650 billion in sector investment, fast-tracking the aviation industry’s shift from fossil fuels.
Philippe Lacamp, CEO of SkyNRG, stresses the importance of developing SAF production capacity to meet aviation’s net-zero goals. He expresses confidence in Macquarie’s investment bolstering their growth towards being a SAF industry leader. Mark Dooley, Global Head of MAM Green Investments, echoes this sentiment, highlighting SkyNRG’s pioneering role and commercial focus in SAF.
SkyNRG’s SAF, derived from renewable feedstocks, can significantly cut emissions, with a potential reduction of at least 75% compared to fossil jet fuel over its lifespan. This investment by Macquarie Asset Management aligns with its strategy of supporting emerging green technologies, including green hydrogen and biomethane producers. However, the finalization of this transaction is contingent on specific closing conditions and terms.
