SkyNRG, a leading supplier of sustainable aviation fuel (SAF), has announced a new funding round that will bring in up to €300 million (USD $340 million) to support its plans for expanding SAF production facilities across Europe and the United States, reports ESGtoday.
The investment includes up to €250 million from global pension asset manager APG, on behalf of Dutch pension fund ABP, and around €50 million from returning investor Macquarie Asset Management (MAM).
“We believe in SkyNRG’s leadership in this field,” said Arjan Reinders, Head of Infrastructure Europe at APG. “This marks our first move into the SAF market, and we’re doing it with a company that’s showing strong progress and real potential to contribute to the clean energy transition.”
Founded in 2009 and based in Amsterdam, SkyNRG was the first company in the world to supply SAF for a commercial flight, which was operated by co-founder and shareholder KLM in 2011. Since then, the company has supplied SAF to over 50 airlines worldwide.
SkyNRG originally focused on sourcing, blending, and distributing SAF, as well as building partnerships to increase global production. A €175 million investment from Macquarie in 2023 enabled the company to pivot toward becoming a full-scale producer, with plans to build and operate SAF production facilities.
Today, SkyNRG’s platform includes a portfolio of production projects, research and development, advisory services, and commercial customer programs aimed at accelerating the use of cleaner aviation fuel.
“Welcoming APG as an investor is a big moment for us,” said Maarten van Dijk, SkyNRG’s CEO and co-founder. “This support, along with Macquarie’s continued backing, allows us to push forward with our plans to become a major producer of SAF. It also shows that the market is ready for facilities focused entirely on sustainable fuel.”
The new funding will help advance construction of production sites in the Netherlands, Sweden, and the United States, the company said.
Kate Vidgen, Chair of the Board at SkyNRG and Operating Partner at MAM, added, “The aviation sector is one of the toughest to decarbonize. SkyNRG has taken a clear lead in finding solutions to this challenge. We’re excited to work alongside APG and the SkyNRG team to grow the company and help drive change in the industry.”
