Aemetis Enters Into Deal With Cathay Pacific to Deliver 38 Million Gallons of Sustainable Aviation Fuel
Aemetis, Inc., a renewable fuels company that focuses on products with negative carbon intensity, announced that it had signed an offtake agreement with Cathay Pacific Airways Limited (Cathay Pacific) for 38 million gallons of blended sustainable aviation fuel (SAF) to be delivered over the 7-year term of the agreement.
When compared to petroleum jet fuel, sustainable aviation fuel has substantial environmental benefits, including a lower lifecycle carbon footprint and reduced contrails. To fulfil international blending standards, the blended sustainable aviation fuel to be supplied under this agreement is 40% SAF and 60% Petroleum Jet A.
Cathay Pacific's supply deal with Aemetis adds to the company's continuous commitment to attaining its net-zero carbon emissions target by 2050. By 2030, Cathay Pacific intends to use SAF for 10% of its overall fuel use. The deal also demonstrates oneworld Alliance's commitment to sourcing SAF collaboratively. Cathay Pacific is a oneworld Alliance founding member.
Cathay Pacific is Hong Kong's home airline, with regular passenger and cargo routes to Asia, North America, Australia, Europe, and Africa.
Cathay Pacific Group includes HK Express, a low-cost airline, and Air Hong Kong, an express freighter airline. Cathay Pacific is a member of Swire Group and is traded on the Hong Kong Stock Exchange (HKSE).
The renewable jet/diesel facility under development on a 125-acre former US Army Ammunition production plant site in Riverbank, California, is projected to provide sustainable aviation fuel. Cathay Pacific will begin receiving the blended sustainable aviation fuel in 2025.
Eric McAfee, Chairman and CEO of Aemetis, said:
"The use of sustainable aviation fuel by Cathay Pacific is another step by the oneworld Alliance toward lowering the environmental impact of aviation. Sustainable aviation fuel is an immediate solution to the decarbonisation of air travel and cargo flights, without requiring extensive new fueling infrastructure or the expensive replacement of planes.”
The Aemetis Carbon Zero production facility design uses renewable hydrogen and is powered by 100% renewable electricity. Renewable hydrogen is used to hydrotreat vegetable and other renewable oils, which results in renewable aviation and diesel fuel.
The Aemetis Carbon Zero design includes capturing CO2 from the production plant and injecting the compressed CO2 into the sequestration well at the Riverbank site to further minimise carbon intensity. The project is intended to permanently store an estimated 300,000 metric tonnes of CO2 each year from the plant.