COLUMBUS, OH, 04 Feb 2021 (GLOBE NEWSWIRE) – NetJets announces today that it has made a significant investment in WasteFuel, a next generation of waste for fuel business aimed at converting landfill waste into sustainable aviation fuel (SAF), making it the first private airline to buy a stake in the production of sustainable aviation fuel. NetJets will also buy at least 100 million liters of WasteFuel’s SAF over the next ten years.
NetJets and WasteFuel are in the early stages of developing a facility in Manila, Philippines, which is expected to be operational in 2025 in partnership with leading infrastructure developer Prime Infra. The fuel is expected to be imported into Los Angeles and distributed over the NetJets network.
“As a leader in private aviation, NetJets is deeply invested in promoting sustainability throughout the industry. Following the launch of our expanded global sustainability program last year, the opportunity to invest in the production of SAF with WasteFuel was a natural next step, ”said Brad Ferrell, Executive Vice President of Administrative Services. “The biorefinery tackles the dual environmental problems of the global waste crisis and sustainable fuels; and we are pleased to take this step towards improving the availability of SAF in the aviation industry. ”
At full capacity, the biorefinery converts 1 million tonnes of municipal waste into 30 million gallons of SAF annually. Using the most efficient technologies available, WasteFuel produces fuels that burn at least 80 percent reduction in carbon compared to fossil fuels. WasteFuel’s SAF has a carbon intensity (CI) of 0 compared to an average CI of 41 for alternative SAFs and a baseline of 89.4 for non-renewable aviation fuel.
Globally, landfills are the third largest source of methane produced by human activity and account for approximately 11 percent of estimated global methane emissions. Methane is a powerful greenhouse gas – about 28 times more powerful than carbon dioxide when warming the Earth on a 100-year time scale and more than 80 times more powerful over 20 years.
“Our waste can be our fuel,” said Trevor Neilson, chairman and CEO of WasteFuel. “Our partnership with NetJets and Prime Infra marks the beginning of a bold new era in travel – the beginning of the hard work of making aviation truly sustainable.”
Prime Infra’s core investment strategy focuses on infrastructure that is socially relevant and sustainable and works hand in hand with host communities. “Solid waste management remains a major problem in the Philippines, especially in urban areas such as Metro Manila, which generates about 10,000 tons of waste per day. A biorefinery that converts solid waste into SAF will have a major impact on reducing solid waste and the consequent environmental and health hazards, landfill emissions and the use of fossil fuels. An added bonus, it will create jobs for the local community, ”said Guillaume Lucci, President, Prime Minister of Infra.
Other investors in WasteFuel include in (x) investments, Guy Oseary and Prime Infra. Contact investment opportunities [email protected].
Looking beyond Manila, NetJets and WasteFuel also plan to develop four more biorefineries in the coming years. This partnership comes on the heels of the launch of NetJets’ expanded global sustainability program in October 2020, which prioritises a commitment to sustainable fuel, corporate responsibility and consumer participation. Visit to follow NetJets’ sustainability progress https://www.netjets.com/en-us/sustainability.
NetJets Inc., a Berkshire Hathaway company, is the world leader in private aviation. More than 50 years ago, we launched the world’s first private jet charter and management company. We continued to be a pioneer in shared air ownership – which provided the benefits of owning a private jet without responsibility. Today, we continue to innovate from cockpit and cabin to safety and accessibility. As the owner and operator of the world’s largest and most diverse private jet fleet, NetJets employs only the most experienced and skilled pilots, and safety is our first and highest priority. Our complete range of aviation options helps individuals and businesses do more and miss less through NetJets®, Executive Jet Management® and Marquis Jet Card® service brands in North America and Europe. For more information on the world’s most reliable and dependable carrier, visit netjets.com.
WasteFuel is a next generation of waste for fuel company that uses proven technology to meet the climate and revolutionize mobility. With an initial focus on air travel, WasteFuel uses proven technology that converts municipal waste into biofuels in aviation that burn at an 80% reduction in carbon to fossil fuel-based aviation fuel. For more information visit: www.wastefuel.com.
About Prime Infra
Prime Infra, the key infrastructure arm of Philippine billionaire Enrique K. Razon Jr., is involved in the business of developing, designing, managing and operating key infrastructure assets that enable the delivery of key services to communities in emerging markets worldwide. Currently, our infrastructure assets include both renewable and sustainable energy, water and construction, but will soon expand to other industries and further diversify our portfolio and improve our services and engagement in various communities around the world. For more information, visit www.primeinfra.ph.
NetJets PR Team NetJets [email protected]
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