Project Speedbird, a collaboration between British Airways, Nova Pangaea Technologies, and LanzaJet, has secured a £9 million grant from the UK's Advanced Fuels Fund (AFF) today. The initiative aims to establish a leading sustainable aviation fuel (SAF) production facility in Teesside by 2027, with a focus on using agricultural waste and wood residue as feedstocks.
The financial boost is a significant step towards the UK's goal of becoming an international leader in SAF production. British Airways and its parent company IAG (LON:ICAG) have also invested in the project, underlining their commitment to sustainability. Carrie Harris, BA's sustainability director, emphasized the importance of the government's support and the potential for the UK to take the forefront in SAF production.
Starting in 2028, the Teesside facility is expected to reach full production capacity, generating 102 million litres of SAF annually. This output is projected to reduce CO2 emissions by approximately 230,000 tonnes each year, aligning with the UK's strategy to source at least 10% of jet fuel sustainably by 2030.
The grant is part of a larger £53 million (GBP1 = USD1.2436) allocation by the UK government to nine SAF projects, including Airlines UK. This move supports the broader effort to increase fuel production to meet upcoming mandates for airlines. Tim Alderslade, CEO of Airlines UK, has endorsed this latest round of funding, recognizing its potential to stimulate job creation in the North East region and reshape SAF production in the UK.
Spokespersons from both British Airways and Nova Pangaea Technologies have expressed optimism about Project Speedbird's future impact on both the environment and the economy. With this funding, Project Speedbird is poised to play a pivotal role in achieving a more sustainable aviation industry.
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