Heliae and SkyNRG Sign MOU to Bring Algae-Based Jet Fuel to Market
(Enhanced Online News) Heliae, an Arizona-based algae technology company, today announced signing a Memorandum of Understanding to produce algae-based jet fuel for SkyNRG, an Amsterdam-based market-maker of renewable aviation fuel.
While both companies acknowledged that a cost-competitive, large-scale supply of aviation fuel derived from algae is not yet a reality, they cited significant progress and a marketplace eager for an alternative supply of renewable fuel.
“We fully understand that algae-based jet fuel is in its infancy,” said SkyNRG Managing Director Dirk Kronemeijer. “But we firmly believe in algae’s promise as a source of truly renewable aviation fuel, and our aviation customers are, of course, very keen to see sustainable alternatives to fossil fuel that, in time, can be cost competitive. We see it as our mission to partner with firms like Heliae that are helping to make these alternatives a reality. We’re truly impressed with the long term vision and commitment of Heliae’s shareholders and with Heliae’s technical progress to date.”
“Heliae’s team is developing the necessary technology to drive down the production costs of algae-based fuels to a level that legitimately competes with fossil fuels,” said Heliae CEO Dan Simon. “We are thrilled to be working with SkyNRG, the global market leader in educating, cultivating and supplying the rapidly growing market for renewable aviation fuels.” READ MORE
