The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Aviation fuel provider Air BP has highlighted the use of sustainable aviation fuel (SAF) at the recent NBAA-BACE industry event in Las Vegas, US.
The company highlighted how solid waste from homes and businesses, including packaging, paper, textiles and food scraps that would otherwise go to landfill or incineration, can be converted into sustainable fuel for aircraft.
https://biofuels-news.com/news/air-bp-promotes-sustainable-aviation-fuel-at-industry-event-expands-offering-to-swedish-airport/
Another typically spooky mail from you Brat. Your agenda is plain as day.
To solve such a multi-faceted issue requires a multi-faceted response and this initiative further demonstrates our commitment to a sustainable future.
"It also follows our announcement to partner with renewable fuels company, Velocys, to build a facility which converts household and commercial waste into renewable sustainable jet fuel to power our fleet."
Encouraging!
The path of least resistance by the looks of it and yet another environmental lemon being sold. I recently came across Naomi Klein and her book The Burning Case for a Green New Deal. Perhaps Willie Walsh & Co could have a read as she makes a lot of sense. As does waste to jet fuel essentially dealing with several problems at once:-
FUEL FROM WASTE: A SUSTAINABLE SOLUTION TO TODAY'S PROBLEMS
There is a climate emergency, and global fuel demand is increasing. Velocys can help reduce the impact aviation has on the climate – the toughest area of transport – and at the same time deal with household and forestry waste. We take what the world doesn't want and we turn it into something valuable.
https://www.channel4.com/news/series-3-episode-23-naomi-klein
Completely agree thurgarton.
EB was just looking for yet another opportunity to spread more F.U.D. Especially using language such as high risk. I now disregard anything E.B has to say as having little value with an agenda of spreading negativity.
Stew - I interpreted that although sustainable aviation fuel seems to be a small part of the BA/IAG environmental plan and are going to use carbon offsetting to a greater extent, did anyone else perceive this from the article?
I came across this article recently:-
https://www.airlines.iata.org/blog/2019/09/countering-misinformation-on-sustainable-aviation-fuels
“Recent independent research shows that when the public is presented with a basket of options for more sustainable flying, including taxation, flying quotas, and offsetting, the most popular solution by far is the deployment of sustainable aviation fuels. The wisdom of crowds is absolutely right on this one. We would therefore urge all those with a desire to see carbon emissions reduced to join the coalition that is working to ensure sustainable aviation fuels are deployed in bulk as soon as possible.”
SKYNRG HOPES TO STIMULATE BIOFUEL PRODUCTION WITH WORLD-FIRST SCHEME.
“SkyNRG’s DSL-01 plant is a start and will produce 100,000 tons of sustainable aviation fuel annually to give the aviation industry a CO2 reduction of over 270,000 tons a year.”
https://www.airlineratings.com/news/skynrg-hopes-stimulate-biofuel-production-world-first-scheme/
Good question jester. It’s a complex business and has been compounded by cheap and abundant Permian basin light crude along with Trumps negative EPA. Here’s some light reading for you:-
https://www.lse.co.uk/rns/VLS/velocys-plc-envia-biorefinery-rins-verified-5qbp7zylg88ewc9.html
https://www.mnbiofuels.org/media-mba/blog/item/1495-rins-101
https://www.reuters.com/article/us-usa-biofuels-rins/biofuel-credit-surplus-could-blunt-rin-price-impact-from-trump-moves-sources-idUSKCN1VG21F
Let’s not forget there’s value for companies who are geared more toward better environmental practice/governance to use bio fuels and this plays a part in the complex business model. I’m just as ignorant as most so perhaps more knowledgeable folks might chime in here.
According to a statement by Velocys, the Bayou Fuels project will take waste woody biomass and convert it into transportation fuels, such as diesel for trucks and sustainable aviation fuel, using the company’s Fischer-Tropsch process.
Integrating CCUS into the Bayou Fuels biorefinery boosts certain targeted revenue streams, such as those derived from the California Low Carbon Fuels Standard and US 45Q tax credits, to incentivise the installation of carbon capture equipment on industrial facilities. The company hopes its proposed CCUS solution can be replicated at other sites, including its UK project which recently submitted a planning application to build Europe’s first commercial scale waste-to-jet fuel facility.
“We want this facility, and others that will follow, to be as environmentally friendly as possible and offer attractive opportunities for partnerships with major energy companies,” said Velocys CEO Henrik Wareborn.
“We don’t just want to deal with waste materials and produce cleaner-burning fuels, we want the process that produces the clean fuels to be as sustainable as possible as well.
“That is why we will be capturing CO2 as a by-product from the gasification process at the Mississippi facility. This will make the facility a net negative emitter of carbon dioxide, which is highly desirable from both an environmental and an investment point of view.”
https://biofuels-news.com/news/velocys-announces-negative-emission-fuels-project-in-mississippi-us/
The U.K. Renewable Energy Association released a statement commenting on the statistics and calling for a long overdue switch to E10. “Renewable fuels are showing an increase, due to the target levels increasing—but the Renewable Transport Fuel Obligation is nowhere near ambitious enough,” said Gaynor Hartnell, head of renewable transport fuels at the FEA. “We could double the consumption of renewable ethanol overnight, with a switch to E10 petrol which is long overdue. There’s potential for higher blends of biodiesel too and enough sustainable feedstocks to produce it.
Interesting the renewable energy association are predicting an ever increasing trend in co2 emissions.
http://www.ethanolproducer.com/articles/16614/uk-liquid-biofuel-consumption-up-in-q2
“With overall volumes of liquid fuels set to fall, with the uptake of electrification, the percentage targets need to increase in order to ensure volumes of biofuels consumed don’t fall,” Hartnell continued. “We need to get liquid fossil fuel consumption down, as swiftly as we can, as transport is now the largest CO2 emitting sector and the overall trend is for it to continue to increase.”
More. Nonsense being spouted by you EB. I’m slowly edging your posts to the shorters bin either that or you are wholly ignorant. FYI BA/Shell don’t make FID Punts. They will make fully qualified investment decisions. I would expect some engineering power house such as Bechtel/woods to be involved with building the immingham plant along with Shell & Velocys.
Can you back up your statement on Velocys payroll deficits with some fact please as I was unaware they were struggling with the payroll.
Well loosely they were there in 2013 boots on ground when the plant was being commissioned albeit maybe supporting Sasol I know coz I was / am still there........
Expat - need to challenge you on your post. BP don't see it as an overwhelming issue:- https://www.bp.com/en/global/corporate/sustainability/climate-change/low-carbon-accreditation-programme/case-study-fulcrum.html
Nor are these plants a first of a kind. Velocys were involved with the Chevron GTL plant in the Niger Delta. And for goodness sake what was Envia plant all about if not for proving Velocys tech at small scale.
Many of us expect Shell to build and finance the UK plant (not the banks) with offtake agreements with B.A and perhaps some further support & underwrting from the UK Goverment.
Did anyone attend. Just wondering what Henrik had to say for himself. Not found any write up or recording of the event.
https://www.***************************/turner-pope-cora-gold-coro-energy-europa-hummingbird-toople-velocys-investor-event/412793872
The Finnish company, whose bet on renewable fuels made it the best-performing large-cap in Finland over the past decade, has set its sights on a new market to conquer: aviation fuel.
https://www.bloomberg.com/news/articles/2019-07-31/neste-ceo-gazes-at-sky-to-tap-cleaner-aviation-fuel-opportunity
Can't we just build more waste to bio fuel plants please:-
"Air passengers may have to pay an extra “carbon charge” on flights as part of a government initiative to reduce CO2 emissions and tackle the climate crisis."
https://www.theguardian.com/environment/2019/jul/22/air-travellers-may-have-to-pay-carbon-charge-to-offset-emissions
"The airport also called on government to invest some of the nearly £4 billion ($4.46 billion) in annual revenue raised from Air Passenger Duty to scale-up production of sustainable fuels."
Lets get that f4c announcement out to Velocys so we can crack on with the immingham plant build.
http://biomassmagazine.com/articles/16346/heathrow-calls-on-icao-to-set-targets-for-aviation-biofuel
"Boeing has just flown a 787-9 Dreamliner from Seattle to Cairo fuelled entirely by biofuel. The 10,973-kilometer delivery flight for EgyptAir was the longest 787 flight undertaken thus far using biofuels."
https://simpleflying.com/boeing-biofuel-delivery-flights/
Heathrow Airport has appealed to aviation body International Civil Aviation Organization (ICAO) to set targets for the use of biofuels in aviation.
https://biofuels-news.com/news/heathrow-airport-calls-on-icao-to-set-biofuels-targets-for-aviation-sector/
The Visa issue is not personal to him but part of the wider political fall out with reference to:-
https://www.theguardian.com/politics/video/2019/jun/28/theresa-may-shares-frosty-handshake-with-vladimir-putin-video