iFuel AG launches as new sustainable aviation fuel broker
iFuel AG has launched its global operations as a new sustianable aviation fuel broker. The company will also make Jet A1 fuel available to its clients.
CEO Rinad El-Rabaa — whose experience includes former fuel company iFuel GmBh — told Corporate Jet Investor iFuel AG aims to be one of the few companies to “wholeheartedly dedicate itself to the environment”.
“Our main competitive advantage will be aggressive fuel pricing and credit facilities. This approach is a result of having direct agreements with leading fuel suppliers around the world,” he said.
However, among the top reasons for the slow adoption of SAF are its relatively high cost and lack of availability. These reasons are also why iFuel has decided to commit itself to SAF brokerage, said El-Rabaa.
“We started our own research to get a direct SAF supply from the US and found a reliable SAF producer with whom we are now discussing the European Market enter strategy,” he said.
Addressing the premium customers have to pay for SAF, he said the only way to bring the price down is to start bigger production lines. “The sale of the product must be forced by industry leaders,” said El-Rabaa.
iFuel is approaching European FBOs to supply fuel in bulk as well as serving private, military, and commercial operators more regularly.
“After our agreements are signed, we will be able to advise accurate volume figures regarding the current supply level in Europe. And as we build volume, we are well placed to grow a direct supplier network of our own.”
iFuel is headquartered in Zug, Switzerland with offices located in Vienna, Barcelona, London, Moscow, and Dubai. The company will work directly with more than 170 suppliers and also offer IT solutions as of next year.