In this episode of The SAF Podcast, David Lloyd from Emerging Fuel Technology joins Oscar to discuss sustainable aviation fuel production, biogas feedstocks, and the challenges of scaling renewable fuel projects. Lloyd, a former airline strategy executive turned SAF technology entrepreneur, shares his transition from Qantas to the emerging fuels sector and explains why biogas represents an untapped opportunity in sustainable aviation fuel production.

The conversation explores Fischer-Tropsch technology's century-long history, from World War Two applications to its modern applications in renewable fuel production. Lloyd argues that biogas and renewable natural gas offer significant advantages over traditional SAF feedstocks, potentially providing 30% of US jet fuel supply from existing landfills alone. He challenges conventional thinking about project scale, advocating for smaller, replicable facilities rather than massive billion-dollar plants that face lengthy development cycles and higher risks.

Key topics include the economics of different SAF pathways, the role of government mandates versus subsidies in driving adoption, and why the "green premium" terminology may need revision. Lloyd discusses power-to-liquid fuels, comparing eSAF production costs with biosynthetic alternatives, and examines how renewable natural gas infrastructure creates opportunities for distributed SAF production.

The episode addresses critical industry challenges including capital expenditure optimization, investor expectations, and the technology valley of death that many startups face. Lloyd's insights on replicating successful models from the ethanol industry provide valuable perspectives on scaling sustainable aviation fuel production efficiently while managing financial and technical risks in the rapidly evolving clean energy sector.

If you enjoy this join us for SAF Investor New York on 23rd September as part of New York Climate Week. Find out more here: https://eu1.hubs.ly/H0mv63z0

This week on The SAF Podcast we are joined by Greg Constantine, Co-Founder & CEO, AIRCO (Formerly Air Company). 

Originally from Australia, Greg explains the strategy behind building out technology development from revenue generating consumer products like carbon negative Vodka, hand sanitizer and perfume building towards production of Sustainable Aviation Fuel. This allows for ongoing revenue generation and less reliance on raising outside investment. 

Constantine explains their technology-licensing business model, contrasting it with the capital-intensive mega-project approaches favored by many competitors in the power-to-liquid (PTL) space. This strategy allows them to avoid massive FID funding rounds while still scaling sustainable aviation fuel production globally.

Their strong partnerships with the US military have provided rigorous testing opportunities across air, land, and marine vehicles, validating their technology beyond what's possible in purely commercial settings. After closing a $70 million Series B funding round with strategic investors including JetBlue, Alaska Airlines, and Toyota Ventures, AIRCO is positioning itself as a technology provider rather than a large-scale fuel producer—focusing on licensing their technology to established operators who can scale production globally.

Constantine also discusses the challenges of balancing emissions reduction with cost competitiveness in the eSAF market, where fuels can cost seven times more than conventional jet fuel. The conversation then moves to feedstock flexibility, policy implications for e-fuels development and which policy structures he finds most practical. 

Check out the full conversation to find out more. 

Want to learn more about sustainable aviation fuel investment opportunities? Join us at the SAF Investor New York conference on September 23rd during New York Climate Week. Find out more information here: https://www.safinvestor.com/event/148108/saf-investor-new-york-2025-new/

In this episode of The SAF Podcast, host Oscar Henderson speaks with Gianluca Ambrosetti, CEO and co-founder of Synhelion, to explore the future of solar fuels and their role in scaling sustainable aviation fuel (SAF) production. Synhelion’s pioneering thermochemical process converts CO₂ and biomass-derived carbon into renewable liquid fuels using high-temperature solar heat and thermal energy storage—delivering continuous, 24/7 production without relying on costly green hydrogen.

Gianluca shares his journey from physicist to clean-energy entrepreneur, explains the technical differences between solar fuels, e-fuels, and biofuels, and details how Synhelion’s technology achieves high carbon efficiency and cost-competitive production targets—potentially under €1 per litre at commercial scale. The discussion covers their Dawn pilot plant in Germany, which integrates both concentrated solar power and photovoltaic-powered heating, enabling full end-to-end SAF production and critical scale-up learning.

We also examine feedstock strategies, including biomethane and CO₂ utilisation, location selection for optimal solar conditions, and the logistics of transporting high-energy-density fuels globally with minimal emissions. Gianluca outlines Synhelion’s scale-up roadmap, including intermediate commercial steps to de-risk investment, the importance of strategic and institutional partnerships, and the role of policy frameworks, mandates, and debt guarantees in financing large-scale SAF facilities.

If you enjoy the podcast, join us at SAF Investor New York where we are bringing together industry leaders to discuss the critical issues around accelerating capital deployment in SAF production. We would love to see as many of you there! You can register through the following link: https://corporate-jet-investor.myshopify.com/collections/saf-investor-new-york

In this episode of The SAF Podcast, we sit down with Martin Forman, Director at Sumitomo Mitsui Banking Corporation (SMBC), to explore the challenges and opportunities in financing sustainable aviation fuel (SAF) projects. With a background spanning energy M&A, hydrogen, CCS, and biofuels, Martin brings a pan-European and global view on decarbonisation finance.

We discuss why Japanese institutions—particularly trading houses and banks—have become such active SAF investors, and how Japan’s domestic SAF mandates are triggering large-scale international investments. Martin explains SMBC’s strategic interest across the SAF value chain, from project lending to aircraft leasing and storage infrastructure, and outlines what makes a SAF project attractive from a lender's perspective.

The conversation dives deep into equity versus debt in project finance, the challenges of funding first-of-a-kind SAF technologies, and the growing importance of public-private partnerships. Martin shares candid insights on why equity—more than debt—is the bottleneck, and how regulation, price certainty, and government support mechanisms like Project SkyPower are critical for unlocking financing and achieving 2030 mandate targets.

Finally, Forman discusses SMBC's preference for club lending arrangements, strategic sponsors over financial investors, and the importance of proximity to feedstock sources. 

If you enjoyed this discussion check out our previous episode with Richard Mathers, Honeywell here: https://www.buzzsprout.com/2202964/episodes/17475885

In this episode of The SAF Podcast we are joined by Richard Mathers, Senior Director of Business Development at Honeywell Sustainable Technology Solutions, for an in-depth exploration of Honeywell’s expanding role in sustainable aviation fuel (SAF) technology. 

If you follow any form of SAF news, you will have heard of Honeywell given their announcements of the ongoing $1.8bn all cash acquisition of Johnson Matthey's Catalyst Technology solutions business and the formation of the SAF Alliance alongside Johnson Matthey, Samsung Electronics E&A, GIDARA Energy. These collaborations aim to streamline project delivery, reduce capital expenditure by up to 10%, and accelerate project timelines by 15%. 

First, Richard walks us through Honeywell’s approach to technology licensing, project financing, and feedstock flexibility across multiple SAF pathways—including HEFA, ethanol-to-jet, methanol-to-jet (eFining), and FT-Unicracking.

Richard explains the critical role technology licensors play beyond just providing technology – from performance guarantees and warranties to supporting project finance and reducing perceived risks throughout the project lifecycle.

Richard provides valuable insights into technology licensing benefits, project financing considerations, and how Honeywell's evolutionary approach to proven technologies helps de-risk SAF production investments.

If you enjoyed this discussion check out our previous episode with SKyNRG and ICF discussing their recent Global Market Outlook report here: https://www.buzzsprout.com/2202964/episodes/17435560

This week's SAF Podcast is our now annual deep dive into the global SAF Market Outlook from SkyNRG and ICF. This year we were joined by Anna Liznerova, SkyNRG and Mark Kelly, ICF. After weeks of late nights and weekends on this extra curricular project they share key insights and methodologies from the report.

The conversation kicks off with the key takeaways from the report notably, Europe's role as the backbone of SAF demand with strong mandates requiring over one million tonnes in 2025, rising to four million tonnes by 2030. Despite Europe driving demand, it represents only 18% of global jet fuel uplift, highlighting the critical need for policy development beyond European borders.

Another major takeaway is Asia's remarkable growth, now accounting for nearly 30% of announced SAF capacity by 2030, overtaking Europe and trailing only the United States. The rise raising important questions about feedstock diversion, sustainability concerns, and potential fraud in waste oil supplies from the region.

The discussion delves into demand modeling challenges, examining three scenarios ranging from pessimistic, realistic and optimistic outlooks through 2050. Mark explains the methodology behind forecasting policy-driven versus voluntary corporate demand, while Anna details SkyNRG's production mapping approach across nearly 400 global projects.

The final and new section of the report, Mark and Anna give an overview of the "HEFA tipping point" – when demand for HEFA based SAF will exceed available sustainable feedstocks, likely around 2030-2031. This timeline creates urgency for advancing alternative pathways like e-fuels, which face their own regulatory and economic challenges. The experts navigate the complex interplay between policy design, investor confidence, technical feasibility, and sustainability imperatives that will determine SAF's future.

What emerges is a nuanced picture: despite delays and setbacks, the industry continues moving forward, though perhaps not as rapidly as hoped. The coming years will be critical for project development, particularly for facilities using advanced technologies beyond conventional HEFA. 

With the amount of developments globally in SAF, is 30 pages enough to cover the ground or does it need extending to a 200 page thesis?

Check out the full report here, it is well worth a read: https://skynrg.com/safmo25/

If you enjoyed this check out our previous discussion with Jim Stonecipher, EdyMac about the lessons industry can learn from failed projects like Fulcrum BioEnergy: https://www.buzzsprout.com/2202964/episodes/17395177

In this episode of The SAF Podcast, we are joined by Jim Stonecipher, Managing Director at EdyMac and former executive at Fulcrum BioEnergy. 

With over 30 years of chemical engineering experience, Jim offers a candid, behind-the-scenes look at Fulcrum's high-profile journey—from promise to Chapter 11 bankruptcy. The company's ambitious vision to convert municipal solid waste into sustainable aviation fuel represented a promising technological pathway, but faced numerous obstacles—from COVID-related supply chain disruptions to fundamental issues with technology scale-up and integration.

The conversation explores the delicate balance between technological development and financial reality, revealing how the notorious "valley of death" between pilot demonstration and commercial deployment claims so many promising innovations. Stonecipher advocates for more thorough engineering work early in the development process, describing it as "intelligence gathering" that identifies risks before they become expensive problems.

At the heart of Stonecipher's message is some crucial advice for technology developers: pilot testing must be comprehensive, integrated, and representative of what will be deployed at commercial scale. "The more you can mimic at the pilot scale," he explains, "the higher your chances of success." This lesson, while seemingly straightforward, runs counter to the pressure many startups face to move quickly toward commercialization to satisfy investor timelines.

The conversation also delves into investor relations, capital stack composition, and how early-stage decisions can make or break long-term success. Jim explains that he sees promise in more modular, incremental approaches to scaling SAF production—starting smaller, proving performance, and then replicating successful units rather than attempting massive facilities from the outset. This "Lego-style" approach could help bridge the gap between technological promise and commercial reality.

If you enjoyed this episode check out our previous episode with Smitha Hariharan, Gulfstream here: https://www.buzzsprout.com/2202964/episodes/17362935

This week on the SAF Podcast Smitha Hariharan, Vice President and Chief Sustainability Officer at Gulfstream Aerospace, discusses how one of the leading business jet manufacturer is pioneering sustainability through a comprehensive three-pillar strategy that balances environmental responsibility with business performance, with a heavy focus on Sustainable Aviation Fuel since 2011. 

From Gulfstream's groundbreaking 2011 transatlantic flight using 50% SAF to their 2023 achievement of flying a G600 from Savannah to Farnborough with 100% SAF in both engines (a full week before Virgin Atlantic's much-publicized commercial demonstration). 

Hariharan reveals Gulfstream's comprehensive sustainability strategy built on three pillars: aircraft efficiency, operational improvements, and fuel innovation. The company has committed to reducing Scope 1 and 2 emissions by 40% by 2034 while supporting the aviation industry's ambitious 2050 net-zero goal. Their groundbreaking achievements include the first transatlantic business jet flight using 100% SAF—accomplished one week before Virgin's celebrated commercial flight.

The conversation explores how corporate customers are increasingly demanding sustainable aviation solutions, driving business aviation's transformation. Hariharan discusses the critical importance of book-and-claim mechanisms for expanding SAF access, particularly at smaller regional airports where business jets operate. She also addresses the challenges of scaling beyond HEFA-based SAF to next-generation pathways essential for meeting 2050 targets.

As a member of the Business Aviation Coalition for Sustainable Aviation Fuel, Gulfstream continues advancing industry-wide SAF adoption through rigorous testing, ASTM evaluation processes, and strategic partnerships with engine manufacturers like Rolls-Royce. This episode provides invaluable insights into how business aviation serves as a crucial testing ground for sustainable aviation innovations that will eventually benefit the entire aviation sector.

If you enjoyed this episode, check out our previous discussion which dives into Book and Claim more deeply with Andre de Fontaine about the Sustainable Aviation Buyers Alliance here, https://www.buzzsprout.com/2202964/episodes/17279231

This week Andre de Fontaine, Sustainable Aviation Buyers Alliance (SABA) joins us on The SAF Podcast. Founded in 2021, SABA has been at the forefront of driving the Book and Claim conversation and allowing corporates to purchase SAF for their operations when they cannot control what fuel they fly on. 

Andre explains how SABA has grown to include approximately 35 major companies—including BCG, Bank of America, Netflix, and Meta—that share ambitious climate targets and significant aviation footprints. Together, they've facilitated around $200 million worth of SAF certificates representing 50 million gallons of sustainable fuel. The evolution has been dramatic; what began as an almost non-existent market in 2021 now features multiple producers and growing corporate demand. 

We also discuss one of SABA's latest initiatives, the launch of SAF Connect, a platform designed to streamline the connection between SAF providers and buyers. Lowering the barriers to entry and the ease with which companies can access SAF is critical to accelerating the higher levels of demand. 

The conversation also looks at whether SAF certificates have the ability to provide the long time certainty required by investors to consider demand signals bankable and make projects worth investing in, how purchasing certificates directly from producers or in partnership with airlines differ.

For more information about SABA and how you can get involved, visit flysaba.org.

If you enjoy this episode check out our previous discussion with Gediminas Ziemelis, Avia Solutions Group here: https://www.buzzsprout.com/2202964/episodes/17239222-the-saf-podcast-avia-solutions-group-unleasing-baltic-saf-production.mp3?download=true

In this episode of The SAF Podcast, we welcome Gediminas Ziemelis, Founder and Chairman of Avia Solutions Group, to discuss the company’s move into sustainable aviation fuel (SAF) production through its NorSAF project. As the world’s largest wet-leasing provider, Avia Solutions Group operates across six continents and is now leveraging its extensive infrastructure to help decarbonize aviation.

Gediminas shares how the company is developing a state-of-the-art SAF and eSAF production facility in Liepāja, Latvia, strategically positioned to serve the Baltic, Nordic, and Central European regions. He reveals how acquiring an existing oil storage terminal has saved years on permitting and construction, while enabling cost-effective scaling of synthetic SAF production using KBR’s PureSAF technology—based on captured CO₂ and green hydrogen.

Behind this ambitious venture lies a revealing look at how nimble, privately-held companies can move faster in the green transition. Unlike publicly-listed giants retreating from environmental initiatives to focus on core business, Avia Solutions Group can make rapid decisions without justifying every move to shareholders. This agility might be exactly what's needed to accelerate aviation's sustainability journey.

Beyond environmental benefits, Ziemelis frames the project as a strategic move toward European energy independence—drawing parallels to how Europe developed sugar beet production in the 18th century to reduce dependency on imported sugar cane. Could synthetic aviation fuel represent the next chapter in Europe's quest for energy sovereignty? Listen now to discover how the future of flight might be taking shape in the Baltic region.

Check out our previous discussion with Dani Charles, Veriflux on AI and traceability here: https://www.buzzsprout.com/2202964/episodes/17201492