SkyNRG Raises $191 Million for Sustainable Aviation Fuel Startup | News World – Buy Aussie News

Skift Take

The sustainable aviation fuel fundraise of $191 million is a drop in the bucket of what is needed if there’s any hope of reaching the net-zero emissions goals by 2050.

Justin Dawes

Two travel tech startups announced fundraises over the past week totaling more than $203 million.

>>SkyNRG, which is focused on developing the market of sustainable aviation fuel, has raised $190.9 million (€175 million) from Macquarie Asset Management.

Amsterdam-based SkyNRG said it sells SAF to airlines now and also has research and development operations and advisory services.

Macquarie Asset Management said the “initial investment” will go toward SkyNRG’s next phase of growth, which includes establishing facilities for SAF production. The company plans to build facilities in Europe and the U.S. by 2030.

SkyNRG said it has secured long-term commitments with KLM Royal Dutch Airlines and Boeing, among others, for SAF purchases worth €4 billion.

SkyNRG is among the companies working to reach the collective goal of airlines achieving net zero carbon emissions by 2050.

“It is critical that SAF production capacity is developed now to enable the aviation industry to meet its net-zero goals,” said Philippe Lacamp, CEO of SkyNRG, in a statement.

The…