Dutch pension services providers APG invests $285m in SkyNRG

Dutch pension services provider APG announced an investment of €250m ($285m) in Dutch sustainable aviation fuel (SAF) company SkyNRG to help the company move forward with its SAF facilities.

“SkyNRG is a frontrunner in the SAF market, demonstrating an entrepreneurial spirit and a strong commercial focus. SkyNRG represents the first investment in the SAF sector on behalf of our client, which is closely aligned with our ambition to create impact by investing at the forefront in energy transition assets that meet our investment criteria,” said Arjan Reinders, head of infrastructure Europe at APG.

The funding commitment from APG is on behalf of the pension fund ABP. The investment builds on previous injection announced by the Macquarie Asset Management in 2023.

SkyNRG is currently in the process of developing multiple SAF projects including a 100,000 tonnes per annum HEFA plant in Netherland city of Delfzijl, Netherlands. The company, in partnership with Skelleftea Kraft, is developing another 100,000 tonnes per annum eSAF facility in Sweden. The company plans to use renewable electricity and biogenic CO2.

“APG joining SkyNRG is a major step forward for SkyNRG, both in terms of our growth plans and ambition to become a SAF producer. The investment from APG, along with MAM’s existing equity commitment, will not only support SkyNRG as a company but also demonstrates that the SAF market is ready for facilities dedicated solely to the production of SAF,” said Maarten van Dijk, CEO and co-founder, SkyNRG.

The company is also planning a facility in the US. The 150,000 tonnes per annum facility will use syngas feedstock to produce SAF at the Port of Walla Walla in Washington.

SkyNRG expects production capabilities to help satiate the rising SAF demand from the mandate across EU and UK.