[Funding alert] Amsterdam-based Fuel Company SkyNRG Secures €175 Million in Funding

Read also - Tallinn-based Deeptech become Cleantech Startup Efenco Secures €4.5 Million in Funding

Leading this new investment was the specialised Green Investments team of Macquarie Asset Management. By building and running SAF production facilities, this investment will help SkyNRG reach its next stage of growth.

SkyNRG intends to construct its own SAF facilities in the US and Europe by 2030 in collaboration with key offtake partners. Using SkyNRG's SAF in jets can, throughout the course of its lifecycle, decrease emissions by at least 75% when compared to fossil jet fuel, based to the company's own life cycle analysis.

Read also - Amsterdam-based Grocery App Crisp Secures €35 Million in Funding

Philippe Lacamp, CEO of SkyNRG, commented: “It is critical that SAF production capacity is developed now to enable the aviation industry to meet its net-zero goals. We are very proud that Macquarie has made this strategic investment in our business and are confident that they, with the ongoing support of our existing shareholders, will provide us with the resources and expertise we need to accelerate our growth journey towards becoming a major player in the SAF industry.”

Mark Dooley, Global Head of MAM Green Investments, said: “We have a track record for backing businesses working at the forefront of the energy transition. This is an exciting milestone for us, as our first SAF investment. SkyNRG has been a pioneer in SAF, with an entrepreneurial spirit and a strong commercial focus. We look forward to collaborating with the SkyNRG team as they grow their business and advance solutions to decarbonise the aviation industry.”

About SkyNRG

Leading the way in the world of sustainable aviation fuel (SAF) is SkyNRG. In order to fulfil its 2050 net zero goal, the corporation has been increasing SAF demand and production capacity for the sector since 2010.

Read also - UK-based Accenture Acquire 6point6

In order to facilitate the transition from fossil jet fuel to sustainable aviation fuel, SkyNRG is now building specialised production facilities. SkyNRG has provided SAF to more than 130 customers worldwide.