Aemetis Signs Agreement with JetBlue to Supply 125 Million Gallons of Sustainable Aviation Fuel

Source: 4/26/2022, Location: North America

Aemetis, Inc., a renewable fuels company focused on negative carbon intensity products, announced that an offtake agreement has been signed with JetBlue for 125 million gallons of blended sustainable aviation fuel (“SAF”) to be delivered over the 10 year term of the agreement. The value of the contract including incentives is approximately $530 million.

Sustainable aviation fuel provides significant environmental benefits compared to petroleum jet fuel, including a lower lifecycle carbon footprint and reduced contrails. The blended sustainable aviation fuel to be supplied under this agreement is 40% SAF and 60% Petroleum Jet A to meet international blending standards.

“JetBlue is proud to lead the aviation industry with its climate and SAF commitments and is encouraged by the continued growth of the SAF market, which will be vital to reaching our own 2040 net zero target,” stated Robin Hayes, JetBlue CEO. “We also recognize the value of California’s renewable fuel incentives that help grow SAF in the state. State and federal incentives encourage clean energy jobs and economic activity, demonstrating that what’s good for our environment is often good for business.”

The sustainable aviation fuel is expected to be produced by the Aemetis renewable jet/diesel plant under development on a 125-acre former U.S. Army Ammunition production plant site in Riverbank, California. The blended sustainable aviation fuel is scheduled to begin deliveries to JetBlue in 2025.

“The adoption of sustainable aviation fuel to reduce the environmental impact of aviation is a significant megatrend led by JetBlue and other airlines,” stated Eric McAfee, Chairman and CEO of Aemetis. “Our production of SAF in California is due to the commitment by CARB to the success of the California Low Carbon Fuel Standard, creating new investment and jobs in disadvantaged minority communities in the state while improving the environment worldwide.”

Powered by 100% renewable electricity, the Aemetis Carbon Zero production plant at the Riverbank plant site is designed to sequester CO2 from the production process using injection wells, significantly reducing the carbon intensity of the renewable fuel.

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