Yokogawa Joins SAF Blockchain Programme

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by KnowESG
KnowESG_Yokogawa Joins SAF Blockchain Programme
Image courtesy of https://www.iadb.in/

Yokogawa Electric Corporation has announced its historic role as the inaugural Asian-based industrial automation customer to join Avelia, the pioneering blockchain book-and-claim platform designed for sustainable aviation fuel (SAF).

Launched in June 2022, Avelia is the brainchild of Shell and Accenture, with additional backing from the Energy Web Foundation, along with the valued partnership of American Express Global Business Travel (Amex GBT).

Avelia's primary mission is to unify global corporate demand for SAF, thereby bolstering its supply and the aviation sector's journey towards achieving net-zero emissions.

It's crucial to underscore the remarkable potential of SAF, which, when used neatly, can reduce lifecycle carbon emissions by an astounding 80% when compared to conventional fossil-based aviation fuels. In the current landscape of aviation sustainability, SAF stands as the most promising pathway to usher in a new era of environmentally responsible air travel.

Avelia harnesses the power of blockchain technology to establish a crystal-clear and fully transparent system for tracking the environmental attributes associated with SAF as it is integrated into the aviation fuel distribution network. Doing so allows for the equitable allocation of these environmental attributes to both airlines and corporate customers while simultaneously eradicating the concerns surrounding double-counting.

Jan Toschka, the President of Shell Aviation, expressed his enthusiasm, stating, "We are delighted to welcome Yokogawa as Avelia's inaugural industrial automation customer headquartered in Asia. The task of expanding the supply and utilisation of SAF can only be achieved through the collaboration of all stakeholders in the aviation industry. Through Avelia, we are partnering with esteemed companies like Yokogawa to facilitate this transition and transform it into reality."

Koji Nakaoka, a Senior Vice President at Yokogawa and the leader of the company's Energy & Sustainability Business Headquarters and Global Sales Headquarters, affirmed the company's commitment to sustainability, saying, "Through initiatives of this kind, Yokogawa is dedicated to the swift adoption of SAF and the consequential reduction of CO2 emissions as we collectively strive towards achieving net-zero emissions."

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Source: Yokogawa

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