Pensioenfonds ABP invests 250 million euros in SkyNRG, a manufacturer of more sustainable aviation fuel. SkyNRG uses the money for research and building factories.
The investment from pension fund ABP should give “a strong impulse” to the development of Sustainable Aviation Fuel (SAF), writes pension manager APG in a press release. APG invests the money on behalf of the pension fund. This alternative aviation fuel should contribute to reducing CO2 emissions, as it is made with renewable raw materials.
SkyNRG wants to build factories in Sweden and the United States, but also in Delfzijl. The production of the factory in Delfzijl was delayed due to nitrogen requirements. The company expects production to start in 2028, says a spokesperson. SkyNRG was founded in 2009, partly by KLM.
The expectation is that the demand for more sustainable fuel will increase, as aviation needs to become more sustainable as quickly as possible. The European Commission requires that at least 2 percent of the fuel consists of SAF in 2025, but that blending percentage will increase in the coming years.
“SkyNRG is ABP’s first investment in sustainable aviation fuel,” says Martin van der Pot, head of private markets at ABP. ABP is the pension fund for civil servants and teachers, among others. It is the largest pension fund in the Netherlands. “This investment fits well with our ambition to invest in the energy transition with impact.”