International Airlines Group announces investment into Nova Pangaea Technologies
The landmark investment is a commitment to scaling up Sustainable Aviation Fuel ('SAF') production in the North of the UK and will be put towards building the UK's first commercial waste-to-fuel plant, NovaOne, at Redcar, which will be operational in 2025.
Alongside the investment NPT is progressing its scale-up work with IAG and LanzaJet as part of Project Speedbird.
"The project is part of the FTSE 100 airline group’s investment programme in sustainable aviation fuel, which at the end of last year amounted to $865 million and accounted for a quarter of the 1.25 billion litres a year of sustainable aviation fuel it will need in 2030."