Nova Pangaea appoints Stewart as new CEO

International Airlines Group backed sustainable aviation fuel (SAF) company Nova Pangaea announced appointment of Stewart Stewart as CEO.

Stewart brings 30 years’ experience in commercialising breakthrough energy and low-carbon technologies, and scaling venture-backed companies across the US and the UK. As CEO, he will lead the growth of UK-based Nova Pangaea including development of the first commercial plant using its proprietary technology, as part of its mission to decarbonise aviation.

“Nova Pangaea has developed a truly differentiated platform to convert biomass into carbon negative sustainable fuels at scale,” said Stewart. “I’m excited to work with the team and our strategic partners to accelerate commercialisation, develop projects in the UK and globally, and build a world-class company, delivering both climate impact and long-term value.”

The company, which has developed a novel technology to produce carbon negative SAF from waste biomass, is currently working with British Airways and LanzaJet on Project Speedbird, a government-supported collaboration to produce SAF in the UK.

Stewart joins from the New York-based investment bank Javelin Capital, where he advised on ‘green fuel’ opportunities. Originally from Texas, he previously held executive leadership roles with cleantech companies BayoTech and Concord Blue Energy in Los Angeles, and guided UK infrastructure owners on decarbonisation as a senior advisor to London-based Ikigai Energy.

Across these ventures, his teams have successfully raised over £150m in equity and project capital for breakthrough energy technologies.

The company has raised over £21m to date from investors, including IAG, PXN Ventures, Mercia Ventures and the first Northern Powerhouse Investment Fund, in addition to grant funding of £7m.