Airbus, the Air France-KLM Group, Associated Energy Group, LLC, BNP Paribas, Burnham Sterling, Mitsubishi HC Capital Inc., and Qantas Airways Limited have co-invested in a Sustainable Aviation Fuel (SAF) financing fund aimed at accelerating its production.
These corporate partners collaborated with investment manager Burnham Sterling Asset Management to create the Sustainable Aviation Fuel Financing Alliance (SAFFA), with Airbus as the Anchor Investor. The total commitment from the seven partners amounts to approximately USD 200 million.
Each partner brings unique experience and financial expertise to the fund, with the goal of increasing the availability of SAF. Investments will primarily target technologically mature SAF-producing projects, such as those using waste-based feedstocks, and will be diversified across various production pathways and regions.
Partners may secure SAF offtakes from the projects SAFFA invests in for their allocated volumes. The fund will focus on SAF that meets the standards for RefuelEU Aviation or CORSIA (Carbon Offsetting and Reduction Scheme for International Aviation) certification.
SAFFA’s first investment is in Crysalis Biosciences, a tech company focused on renewing U.S. chemical manufacturing infrastructure with innovative fuel and chemical production technologies.
Crysalis Biosciences recently acquired and renovated the Monarch facility, an ethanol plant in Sauget, Illinois, USA, which had been closed since 2019. By the first quarter of 2024, the plant completed its upgrades and received the necessary environmental authorisations to resume operations, aiming to produce low carbon intensity SAF and biochemicals.
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