Airbus, Air France-KLM Group, Associated Energy Group, LLC, BNP Paribas, Burnham Sterling, Mitsubishi HC Capital Inc., and Qantas Airways Limited co-invested in a Sustainable Aviation Fuel (SAF) financing fund aimed at accelerating SAF production.
These corporate partners collaborated with investment manager Burnham Sterling Asset Management to establish the Sustainable Aviation Fuel Financing Alliance (SAFFA) investment fund, with Airbus serving as the Anchor Investor. The total commitment from the seven partners amounts to approximately US$200 million.
Each partner contributes expertise and financial support to the fund, targeting the rapid expansion of SAF availability. Investments will primarily focus on technologically advanced SAF projects utilizing waste-based feedstocks. The fund will diversify investments across various SAF production pathways and geographic regions.
Partners will have priority access to SAF off-takes from projects supported by SAFFA, intended for their respective allocated volumes. SAFFA specifically targets SAF eligible for RefuelEU Aviation or CORSIA certification (Carbon Offsetting and Reduction Scheme for International Aviation).
SAFFA’s inaugural investment was made in Crysalis Biosciences, a technology company dedicated to revitalizing U.S. chemical manufacturing infrastructure through innovative fuel and chemical production technologies.
Among its recent achievements, Crysalis Biosciences acquired and revamped the Monarch facility, a former ethanol plant in Sauget, Illinois, USA, which ceased operations in 2019. By early 2024, the plant completed upgrades and secured necessary environmental approvals to resume operations, focusing on producing SAF and biochemicals with low carbon intensity.
