Octopus Energy Invests in Nordic Generation Fuels for Sustainable Air Travel Acceleration
Key Ideas
- Octopus Energy's investment in Nordic Generation Fuels will facilitate the development of two fuel production facilities in Finland, aiming to power nearly 2,000 flights from London to New York annually.
- The sustainable aviation fuel will be produced using biogenic CO2 and green hydrogen, contributing to a greener aviation sector and lower environmental impact for flights.
- This initiative aligns with global efforts for sustainable aviation, with the market expected to grow significantly, driven by EU and UK initiatives to increase sustainable aviation fuel usage by 2030.
- Nordic Generation Fuels' partnership with Octopus Energy signifies a crucial step towards building a sustainable fuels economy and making air travel cleaner and more eco-conscious.
Octopus Energy's generation arm has made a strategic investment in Nordic Generation Fuels (NGF) to enhance sustainable air travel. The investment will support NGF in establishing two new fuel production facilities in Finland, with the capacity to fuel approximately 2,000 flights from London to New York each year. By capturing biogenic CO2 and utilizing green hydrogen, the produced sustainable aviation fuel is set to reduce the environmental footprint of flights, paving the way for a greener aviation industry. The construction of these facilities, expected to commence soon, aligns with the broader industry goal of transitioning towards cleaner fuel sources. NGF's collaboration with Business Finland, backed by the Finnish government, highlights a collective effort to drive sustainability in fuel production. With sustainable aviation fuel currently representing a minor fraction of global jet fuel, initiatives from the EU and UK aim to significantly boost its usage by 2030. Octopus Energy's endorsement of NGF through the Octopus Energy Transition Fund reflects a shared commitment to advancing green initiatives in the aviation sector. The positive sentiment is echoed by key figures like Zoisa North-Bond of Octopus Energy Generation and Miko Pironetti of Nordic Generation Fuels, emphasizing the importance of sustainable fuel development for a cleaner future in air travel.