Post by account_disabled on Feb 26, 2024 22:56:48 GMT -6
Bill Gates, founder of Breakthrough Energy, announced that the first funding for his Catalyst project, in the form of a $ million grant, will go to LanzaJet for the world's first alcohol-to-jet sustainable aviation fuel (SAF) plant. in Soperton, GA.
Breakthrough Energy Catalyst is a unique program that brings together corporate and philanthropic organizations to accelerate the deployment of essential technologies by funding key, one-of-a-kind commercial-scale projects.
LanzaJet's Freedom Pines Fuels project is the company's first commercial-scale SAF plant. It will be the first in the world to produce Alcohol-to-Jet SAF, which will reduce emissions by at least % compared to fossil jet fuel. The project is planned to be operational in
Once fully operational, this plant will play a key role in scaling up SAF production and commercializing less expensive sustainable fuels. The plant is expected to produce nine million gallons of SAF and one mi Brazil Mobile Number List llion gallons of renewable diesel annually.
This is approximately double SAF's current production in the U.S. Construction of the plant will allow for significant scale-up of LanzaJet technology in the U.S. and around the world after the plant is built. Other projects are already in the planning phase in North America, Europe and Asia that together would produce more than one billion gallons of SAF each year.
First-of-its-kind projects for emerging technologies often struggle to access low-cost capital because they have high green premiums and often face unforeseen challenges and costs, especially in the current economic climate. Catalyst financing can reduce the risk of follow-on investments and accelerate the deployment of clean technologies by providing money to these first commercial facilities.
In this case, Freedom Pines Fuels' Catalyst grant filled a funding gap and will allow the plant to maintain its current development schedule. The grant will also drive further SAF innovation by helping to create a new market for scalable, low-carbon, sustainably sourced ethanol by setting the expectation that the plant will transition to second-generation ethanol, including from feedstocks. waste-based, in its fifth year.
Breakthrough Energy Catalyst is a unique program that brings together corporate and philanthropic organizations to accelerate the deployment of essential technologies by funding key, one-of-a-kind commercial-scale projects.
LanzaJet's Freedom Pines Fuels project is the company's first commercial-scale SAF plant. It will be the first in the world to produce Alcohol-to-Jet SAF, which will reduce emissions by at least % compared to fossil jet fuel. The project is planned to be operational in
Once fully operational, this plant will play a key role in scaling up SAF production and commercializing less expensive sustainable fuels. The plant is expected to produce nine million gallons of SAF and one mi Brazil Mobile Number List llion gallons of renewable diesel annually.
This is approximately double SAF's current production in the U.S. Construction of the plant will allow for significant scale-up of LanzaJet technology in the U.S. and around the world after the plant is built. Other projects are already in the planning phase in North America, Europe and Asia that together would produce more than one billion gallons of SAF each year.
First-of-its-kind projects for emerging technologies often struggle to access low-cost capital because they have high green premiums and often face unforeseen challenges and costs, especially in the current economic climate. Catalyst financing can reduce the risk of follow-on investments and accelerate the deployment of clean technologies by providing money to these first commercial facilities.
In this case, Freedom Pines Fuels' Catalyst grant filled a funding gap and will allow the plant to maintain its current development schedule. The grant will also drive further SAF innovation by helping to create a new market for scalable, low-carbon, sustainably sourced ethanol by setting the expectation that the plant will transition to second-generation ethanol, including from feedstocks. waste-based, in its fifth year.