Velocys welcomes UK government plan for SAF revenue mechanism
In the UK, letsrecycle.com reported that Velocys has welcomed the publication of the UK government’s delivery plan for a revenue certainty mechanism for sustainable aviation fuel.
In partnership with British Airways, Velocys is developing its Altato facility in Immingham, North East Lincolnshire, that could convert up to 500,000 tons of municipal solid waste into SAF.
Henrik Wareborn, chief executive officer of Velocys, said: “The announcement is very positive for the UK SAF industry and especially for the Altalto project.”
“This commitment from the government is a major step towards unlocking the capital required to further fund SAF projects in the UK. As noted by the Department for Transport, this revenue certainty will provide SAF producers greater assurance over the earnings from the SAF produced in projects such as Altalto, enabling projects to attract the necessary finance,” the executive added.
