Future Energy Global signs eSAF offtake agreement with Sora Fuel
Dublin-based sustainable aviation fuel (SAF) market scaling platform Future Energy Global announced that it has signed a memorandum of understanding with US-based Sora Fuel Corporation to negotiate an eSAF offtake agreement.
“Our goal is to drive SAF market growth and help reduce aviation emissions,” said Natasha Mann, CEO and co-founder of Future Energy Global. “To do that, we need to support innovative SAF producers like Sora Fuel to scale up their production and drive down the cost of sustainable fuels.”
These SAF Scope 1 and Scope 3 attributes will enable airlines and corporates to reduce their CO2 emissions using book and claim. With currently low SAF production, the book and claim system addresses this challenge by enabling the environmental attributes of the fuel to be traded separately from the underlying fuel.
Under the agreement, FEG will have reserved the environmental attributes of the first 10m gallons of Sora’s future e-SAF production, with an option to increase the offtake at a later date.
“We are thrilled to be in discussions with an innovative market leader like Future Energy Global and see this partnership as one that can grow substantially through time. Securing commercial offtake is a key milestone in establishing the bankability of future Sora Fuel plants,” said Gareth Ross, CEO and co-founder of Sora.
Sora Fuel is developing a new path for producing SAF and other e-fuels using just air, water, and electricity as feedstocks.
Sora’s core technology breakthrough is the ability to capture atmospheric CO2 below $50 per ton. Sora then electrolytically converts the captured CO2 and water directly into syngas and ultimately into ASTM approved fuels.
Earlier this week, Future Energy Global said it has successfully concluded first transaction on the recently-launched International Air Transport Association (CADO) SAF Registry with the delivery to Microsoft of a first tranche of SAF Scope 3 certificates derived from Cathay Pacific Airways’ purchases of SAF.
The transaction will support Microsoft’s ongoing drive to reach net zero emissions by 2030.