ABP, the Dutch pensions company, has announced it will invest up to €250m in SkyNRG, a company developing more sustainable aviation fuel.
The firm said the investment will enable SkyNRG to build new factories, expand research and boost commercial collaboration.
More sustainable aviation fuel involves adding fuel from renewable raw materials, such as plant residues, to kerosene. This helps reduce aircraft CO2 emissions.
SkyNRG, whose headquarters are in Amsterdam, already supplies aviation fuel to more than 50 airlines worldwide.
It also said that the demand for sustainable aviation fuel continues to grow.
The European Commission wants the blending percentage of this fuel to increase to 2 per cent in 2025 and 70 per cent in 2050, while the market for more sustainable aviation fuel could reach a value of €12bn per year in 2030.
ABP head of private markets, Martin van der Pot, commented on the investment: "This is our first investment in sustainable aviation fuel. It fits in with our ambition to invest in the energy transition and contribute to making the transport sector more sustainable."
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