GAFT secures €750k from Temasek Foundation to advance SAF tech
Dutch technology firm Green Air Fuel Technology (GAFT) announced that it has secured a €750,000 ($1m SGD) grant from Temasek Foundation to accelerate its sustainable aviation fuel (SAF) production.
The win marks GAFT as one of two grand winners of The Liveability Challenge 2024.
“We are delighted to have completed our agreement with the Temasek Foundation as we continue our technology development. We know that the global SAF market will be facing a HEFA feedstock shortage by 2030 and at GAFT, we have the technology to solve this issue,” said Frank Schreurs, CEO for GAFT.
“It is exciting for a European company, at this stage of our development, to enter the Asian market to support a forward-thinking Singapore-based organisation to combat the challenge.”
GAFT’s innovative approach involves converting surplus renewable energy into formic acid, which is then transformed into SAF feedstock. This process aims to address the growing shortage of traditional SAF feedstocks like used cooking oil. The funding will support scaling up production, conducting a life cycle analysis, and securing offtake deals.
With 10% of SAF produced in 2023 HEFA – UCO and global shortage for feedstocks for this technology, GAFT’s technology allows conventional fermentation to rapidly scale and go-to-market ahead of the impending 2030 HEFA feedstock squeeze.
Temasek Foundation, the philanthropic arm of Temasek – an investment company headquartered in Singapore, accelerates the commercialisation of deep-tech climate solutions as well as disruptive food solutions.
“GAFT’s proposal of a new, low-cost feedstock for conventional production of SAF addresses the current bottleneck of feedstock availability globally. It will pave the way for greater adoption of SAF and significantly reduce the carbon footprint of the aviation industry,” said Heng Li Lang, head, climate & liveability of Temasek Foundation.
Anchored in Asia, Temasek’s portfolio stands at SGD$389bn with 64% underlying exposure to developed economies. Temasek holdings includes big names such as Blackrock, Ali Baba, Mastercard, Visa, Tencent, Singapore Airlines etc.
If you want to know more about what GAFT is doing, SAF Investor Podcast producer Oscar Henderson spoke with Frank Schreurs, co-founder of GAFT, about the innovative approaches his company is taking to revolutionise. You can listen here.