IAG Group, Twelve bag “Offtake Agreement of the Year” award

International Airline Group’s (IAG) 14-year offtake agreement with Twelve won away with the “Offtake Agreement of the Year” at SAF Investor Conference.

Under the terms of the fourteen-year contract, Twelve will supply IAG with  of e-SAF to support its five European airlines (British Airways, Iberia, Aer Lingus, Vueling and LEVEL).

This deal is the largest e-SAF commitment announced by any European airline Group.

The next-generation fuel will reduce lifecycle greenhouse gas emissions by up to 95% versus conventional jet fuel. IAG is the first European airline group to announce an e-SAF deal, and the agreement will enable IAG to continue increasing its SAF use, which was approximately 12% of the world’s supply in 2023.

The two companies first began partnering in 2020, when Twelve joined IAG’s Hangar 51 start-up accelerator programme to commercialise Twelve’s technology.

“This new deal will contribute towards our 2030 SAF target as well as helping IAG to meet future mandate requirements in key markets. We would like to see similar projects scale in Europe, and we look forward to working with governments across our key markets to build a SAF industry to deliver jobs, economic growth and a stable supply of SAF,” said Luis Gallego, CEO, IAG.

Moreover, Nicholas Flanders, CEO of Twelve said: “Power-to-liquid fuels like Twelve’s E-Jet mean no compromises when it comes to air travel. Aviation is a hard to decarbonise sector and power-to-liquid e-SAF offers an industry-leading emissions reduction potential, with the added benefits of abundant feedstock supply and significantly smaller land and water footprints compared to alternative SAF pathways.

“We are proud to partner with IAG to advance toward a cleaner future of aviation with our E-SAF, a drop-in ready SAF made from CO2.”