HydrogenPro Partner, DG Fuels announces strategic cooperation with Air France- KLM

News provided by

Nov 13, 2023, 09:59 ET

HydrogenPro's collaborative partner, DG Fuels, recently announced the strategic cooperation with Air France – KLM. The latter has made an investment in DG Fuels "to support the completion of the development work necessary to reach the Final Investment decision".

PORSGRUNN, Norway, Nov. 13, 2023 /PRNewswire/ -- HydrogenPro's collaborative partner, DG Fuels, announced on Friday, November 10th, the strategic cooperation with Air France – KLM. The latter has made an investment in DG Fuels "to support the completion of the development work necessary to reach the Final Investment decision". The group has invested USD 4.7 million in the SAF (Sustainable Aviation Fuel) producer. HydrogenPro has been contracted as the supplier of electrolyzers for the plant in a potential 500 million USD deal, excluding life cycle services.

In addition to the investment Air France-KLM «acquired an option to purchase up to 25 million gallons / 75 000 tons of SAF annually over a multi-year period beginning in 2029. This option comes in addition to the long-term offtake contract announced by Air France-KLM and DG Fuels last year.

Compared to conventional fuel, the use of SAF can reduce emissions by an average of 80% and is considered more energy-efficient, providing airlines with operational advantages in addition to environmental benefits.

In April this year the European Commission announced ReFuelEU Aviation proposal, including:

1) Aviation fuel suppliers to supply a minimum share of SAF at EU airports, starting at 2% of overall fuel supplied by 2025 and reaching 70% by 2050. The new EU jet fuel blend will need to also contain a minimum share of the most modern and environmentally-friendly synthetic fuels, which increases over time;

2) Aircraft operators departing from EU airports to refuel only with the fuel necessary for the flight, to avoid emissions related to extra weight or carbon leakage caused by 'tankering' practices (deliberately carrying excess fuel to avoid refueling with SAF);

3) Airports to ensure that their fueling infrastructure is available and fit for SAF distribution.

"SAF is an important part of decarbonizing the aviation industry. We are happy to play an integral role as we are delivering our green hydrogen technology to transform the aviation sector through our collaboration with DG Fuels" says HydrogenPro CEO, Jarle Dragvik.

Air France-KLM confirms its strategic cooperation with SAF producer DG Fuels by investing in their SAF production facility in the United States – DGFuels

CONTACT:

Olaf Thommessen
Head of Communications

+47 975 48 585
olaf(at)hydrogen-pro.com

SOURCE HydrogenPro ASA