International Airlines Group (IAG), the parent company of well-known airlines such as Aer Lingus, British Airways, Iberia, Vueling, and LEVEL, has made a significant investment in Nova Pangaea Technologies (NPT), a UK-based cleantech company. NPT’s innovative technology focuses on converting agricultural waste and wood residue feedstocks into second-generation bioethanol, which can then be processed into Sustainable Aviation Fuel (SAF).
This investment from IAG will support the development of NPT’s first waste-to-fuel commercial-scale production facility, known as ‘NOVAONE.’ The project is a significant step forward, as it will be the UK’s first facility of its kind. IAG’s commitment to sustainable aviation is evident through their investment program in SAF, which reached $865 million in firm commitments on SAF purchases and investments by the end of 2022.
According to IAG, Sustainable Aviation Fuel is the most viable option for long-haul airlines to decarbonize their operations. With a goal to utilize 10% SAF by 2030, IAG is not just focused on purchasing SAF but is also actively investing in the development of the industry. However, they stress the need for governments in the UK and Europe to take action and provide further support to encourage additional investment.
Sarah Ellerby, the CEO of Nova Pangaea Technologies, expressed her excitement about the investment, calling it a transformational milestone. She believes that this partnership with IAG, a leading name in the aviation industry, will greatly benefit their mission of delivering a sustainable source of SAF to decarbonize the aviation sector, both in the UK and on a global scale.
International Airlines Group (IAG) is one of the largest airline groups globally, operating 558 aircraft that connect the UK to 334 destinations in 81 countries. It consists of prominent airlines such as Aer Lingus, British Airways, Iberia, Vueling, and LEVEL.
Nova Pangaea Technologies (NPT) is a cleantech company at the forefront of creating advanced biofuels and other bio products from wood residues and agricultural waste. Their innovative process contributes to the production of Sustainable Aviation Fuel (SAF), a vital tool in the effort to reduce flight emissions.
The partnership between British Airways, LanzaJet, and Nova Pangaea Technologies, known as ‘Project Speedbird,’ aims to process bioethanol feedstocks into SAF for British Airways through a dedicated SAF plant utilizing LanzaJet’s patented technology.
Overall, the investment from International Airlines Group (IAG) into Nova Pangaea Technologies reflects a significant milestone in the pursuit of sustainable aviation. With the development of the UK’s first waste-to-fuel commercial-scale production facility and IAG’s commitment to investing in SAF, the aviation industry can work towards decarbonizing long-haul flights and reducing their environmental impact.
