Climate Insider Brief:
- Macquarie Asset Management is investing up to €175 million in SkyNRG, a sustainable aviation fuel supplier, as part of the aviation industry’s push towards greener practices.
- SkyNRG, a Dutch fuel supplier with partnerships including Boeing and KLM, anticipates long-term commitments of up to €4 billion in sustainable aviation fuel purchases, according to a statement.
- his marks Macquarie’s initial foray into the sustainable aviation fuel (SAF) sector through its Green Investment Group Energy Transition Solutions Fund.
PRESS RELEASE – November 16, 2023 – Macquarie Asset Management is investing as much as €175 million ($190 million) in alternative fuel supplier SkyNRG as the aviation industry tries to become greener.
The Dutch fuel supplier has partnerships with airlines including Boeing Co. and Dutch airline KLM NV, and has anticipated long-term commitments of as much as €4 billion in sustainable aviation fuel purchases, according to a statement on Thursday. Macquarie’s investment came through its Green Investment Group Energy Transition Solutions Fund.
It’s the first venture into the SAF space for Macquarie’s green investment division, which has invested heavily in assets like grid-scale batteries, hydrogen and metals in the past two years. Aviation has so far proved more difficult to decarbonize than other types of transport — SAF is currently the only feasible alternative to traditional jet fuel, but can cost as much as five times more.
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SOURCE: Bloomberg
