World Fuel Services (World Fuel) and Neste have signed a new supply agreement concerning sustainable aviation fuel (SAF).
The agreement provides World Fuel with greater access to the currently limited supply of SAF available for European commercial, business, and general aviation customers. Increasing the accessibility of renewable fuels like SAF worldwide is a key tenet of World Fuel's mission to enable its customers and partners to decarbonise their operations, the Miami firm said.
With greater committed volumes of SAF from Neste under the new agreement, World Fuel has increased the number of European airports it can supply with SAF from 13 to over 40. This collaboration also paves the way for expanding the accessibility of SAF at more than 100 airport locations presently in World Fuel's European network.
“Neste is fully committed to supporting the aviation industry to achieve its net zero carbon emissions goal. Working closely with partners like World Fuel Services is crucial as it will help us accelerate the supply and usage of sustainable aviation fuel across World Fuel's extensive global network of airports.
“We are excited to expand our collaboration with World Fuel as we increase our annual SAF production capability to 1.5 million tons per annum by the end of 2023,” said Alexander Kueper, vice-president EMEA in the Renewable Aviation business unit at Neste.
With this agreement, World Fuel builds on its existing track record of providing sustainable energy to customers to reduce carbon emissions. Since 2015, World Fuel has delivered nearly 40 million gallons of SAF to business and commercial aviation customers worldwide. The agreement with Neste will significantly increase the availability of SAF in Europe, according to the partners.
“We are excited to have created a framework that enables us to more reliably provide our customers across Europe with SAF in a timely and expedient manner,” said Duncan Storey, vice president, supply aviation Europe, World Fuel Services. "We are confident this agreement and deeper collaboration with Neste will serve to accelerate our ability to support customers in their decarbonisation ambitions across the globe.”