As a sustainable fuels technology company, Velocys welcomes President Biden’s commitment to incentivise the production of sustainable aviation fuel (SAF). Synthetic fuel, enabled by the Velocys technology, is THE only ‘here-and-now’ solution to decarbonising aviation as a drop-in approved fuel, and supports both environmental improvements and energy security.
The President’s commitment reflects the importance and need for technology solutions to produce synthetic fuels and recognises the value of the industry itself. We look forward to further developments, and their support of Velocys’ landmark US biorefinery reference project, Bayou Fuels in Mississippi.
President Joe Biden said:
“I’ve spoken with the leading heads of all major airlines. It’s going to require billions of gallons of sustainable aviation fuel. And you simply can’t get to net zero by 2050 without biofuels.
“Aviation isn’t a case where you blend in a little bit of biofuel. It’s where it’s called ‘drop in’ – meaning 100% biofuel.
“To bring that future within reach, I proposed a sustainable aviation fuel tax credit that we brought together — the governments, the agencies, aircraft manufacturers, airlines, fuel producers, airports — to advance cleaner and more sustainable fuels for American aviation. That’s how we’re going to get there. And we can.”
23 October 2023
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