Willis Sustainable Fuels Receives UK Grant for Aviation Fuel Refinery
Funding to Support Planned Development of New Power-to-Liquid (PtL) Sustainable Aviation Fuel (SAF) Refinery
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COCONUT CREEK, Fla., Nov. 16, 2023 (GLOBE NEWSWIRE) — Willis Lease Finance Corporation (NASDAQ: WLFC) (“WLFC”), a leading lessor of commercial aircraft engines and global provider of aviation services, today announced that its subsidiary, Willis Sustainable Fuels (UK) Limited, has been awarded a £4.721M grant in the UK’s Advanced Fuels Fund (AFF). This funding will support the planned development of a new Power-to-Liquid (PtL) sustainable aviation fuel (SAF) refinery at Teesworks in Northeastern England.
This innovative project aims to produce SAF using a process that converts renewable electricity and captured carbon dioxide into synthetic fuels. The PtL technology is a promising solution to reduce the carbon footprint of the aviation industry, which is a major contributor to greenhouse gas emissions. By investing in sustainable fuel production, Willis Sustainable Fuels is making a significant impact on the environment and helping to create a more sustainable future for air travel.
Receiving the grant from the UK government is a testament to the importance of developing alternative fuels for the aviation sector. It demonstrates a commitment to supporting innovation and sustainability in the industry, while also stimulating economic growth and job creation in the region. The new SAF refinery at Teesworks is expected to create new opportunities for green energy production and contribute to the UK’s transition to a low-carbon economy.
Willis Sustainable Fuels is proud to be at the forefront of developing sustainable aviation solutions and looks forward to advancing the PtL technology with the support of the UK grant. The company remains dedicated to driving positive change in the aviation industry and accelerating the adoption of cleaner energy sources for air travel.
How This Will Affect Me
As a consumer of air travel, the development of a sustainable aviation fuel refinery by Willis Sustainable Fuels in the UK will potentially lead to a reduction in carbon emissions from flights. This could result in a more eco-friendly travel experience and contribute to a cleaner environment for future generations. Additionally, the increased availability of SAF may lead to greater options for environmentally-conscious passengers seeking greener travel alternatives.
How This Will Affect the World
The establishment of a Power-to-Liquid sustainable aviation fuel refinery at Teesworks in Northeastern England has the potential to have a significant impact on the global aviation industry. The adoption of PtL technology for SAF production could pave the way for a more sustainable approach to air travel worldwide, reducing the industry’s reliance on traditional fossil fuels and helping to mitigate climate change. By investing in alternative fuels, Willis Sustainable Fuels is setting a positive example for other companies in the aviation sector to follow, promoting a more sustainable future for the planet.
Conclusion
The grant awarded to Willis Sustainable Fuels for the development of an SAF refinery in the UK is a crucial step towards a more sustainable future for air travel. By investing in innovative technologies and alternative fuels, the company is leading the way in reducing carbon emissions from the aviation industry and promoting environmental stewardship. This project has the potential to not only benefit consumers by offering greener travel options but also to make a positive impact on the global fight against climate change. Willis Sustainable Fuels’ commitment to sustainability and innovation is a testament to the importance of corporate responsibility in addressing environmental challenges.
