First Canadian offtake agreement MONTREAL, Nov. 2, 2021 /CNW/ - Air Transat A.T. Inc. ("Air Transat") and SAF+ Consortium ("SAF+") are proud to announce an offtake agreement for 90% of the sustainable e-fuel produced by SAF+ in its first plant over the first 15 years of operation. The agreement, which also includes support for the project's development, confirms Air Transat's desire to reduce its environmental footprint and continue its actions to combat climate change by becoming the first airline in Canada to reserve a significant volume of e-fuel over a long period of time.
"This agreement is an important part of our strategy to reduce our greenhouse gas emissions. SAF+'s technological approach will greatly contribute to the effort to decarbonize the aviation industry and we are proud to be taking part in building concrete solutions that will enable us to give our customers a low-carbon travel experience," said Annick Gurard, President and CEO of Transat.
Jean Paquin, President and CEO of SAF+, stated: "Today is a proud moment for SAF+. The signing of this first offtake agreement for a long-term supply of e-fuel in North America is a commitment that every clean technology developer is eager to obtain. This revenue guarantee significantly reduces the level of risk associated with carrying out our project. We have achieved this feat by keeping our promises and having the opportunity to partner with like-minded visionaries."
Mr. Paquin continued: "Air Transat has always believed in our technological approach and supported us in our journey. With this agreement, we will be able to carry out our business plan and provide our partner with a sustainable solution, enabling it to reduce its greenhouse gas emissions and remain a competitive airline while meeting its environmental objectives."
SAF+ recently announced one of the first productions of sustainable aviation fuel in North America. SAF+'s goal is to bring to market by 2025–2026 a synthetic kerosene whose carbon footprint is 80% lower than fossil kerosene by capturing 120,000 tonnes of CO2 per year. SAF+'s technology involves producing a synthetic liquid fuel by capturing and combining CO2 from industrial sources with green hydrogen produced in Quebec. While there are several types of sustainable fuels, e-fuel is a particularly promising avenue because it does not compete with other uses for its raw material.
https://www.newswire.ca/en/releases/archive/November2021/02/c1839.html