Funding

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

Nov 17, 2023 | By Startup Rise EU

Amsterdam-based fuel company SkyNRG secures €175 million in funding. SkyNRG, which was founded 14 years ago, is leading the way in the development of sustainable aviation fuel (SAF), having provided the fuel for the first commercial flight in history in 2011.
Philippe Lacamp - Chief Executive Officer(left), Maarten van Dijk - Chief Development Officer, Co-founder(middle), Theye Veen - Chief Commercial Officer, Co-founder(right)

Amsterdam-based fuel company SkyNRG secures €175 million in funding. SkyNRG, which was founded 14 years ago, is leading the way in the development of sustainable aviation fuel (SAF), having provided the fuel for the first commercial flight in history in 2011.

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.

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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.

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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.

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