Canada bets on Saf fuels
State Bank finances production with 8.4 million dollars by 2027
The State Canada Infrastructure Bank (CIB) recently provided an 8.4 million dollar loan to support the Azure company in its plans for the production of Sustainable Aviation Fuel (SAF) by 2027. This is further funding functional to the completion of the study and research phase, which has a completion date set for the end of 2024.
"We are partnering with Canada Infrastructure Bank to advance our plans to provide a significant source of Saf fuel to global markets and support the transition to a more sustainable future. We continue to advance this opportunity", says Azure CEO Douglas Cole.
Sustainable Aviation Fuel (Saf) has the potential to reduce aviation emissions by up to 80%. Cib Bank's investment supports the development of Azure biofuel in three potential Canadian factories, where production procedures have been implemented in close contact with provincial, municipal and local governments, to adhere to all environmental regulations.
AVIONEWS - World Aeronautical Press Agency