Neste and Air Canada Sign Agreement for the Supply of 60,000 Tons of Neste MY Sustainable Aviation Fuel – the First Time Neste’s SAF Is Supplied to Canada

(Neste) - Neste and Air Canada have agreed on the supply of 60,000 tons (77.6 million liters) of unblended, neat Neste MY Sustainable Aviation Fuel for use on flights from Vancouver International Airport. - It marks the first time that Neste MY Sustainable Aviation Fuel will be supplied to Canada. - The agreement also represents Air Canada’s first commercial import of SAF into the country and contributes significantly to Air Canada’s target to procure SAF to account for 1% of the airline’s estimated 2025 jet fuel use.

Neste and Air Canada have signed an agreement for the supply of 60,000 metric tons (77.6 million liters) of neat Neste MY Sustainable Aviation Fuel™. Neste will deliver the sustainable aviation fuel (SAF) blended with conventional jet fuel to the Vancouver marine terminal starting in December 2024, with further shipments throughout 2025. The Vancouver marine terminal has a direct pipeline connection to the fuel facilities at Vancouver International Airport enabling the use of the blended SAF at the airport.

The agreement builds on the existing partnership between the two companies and supports Air Canada’s environmental sustainability commitments which include a target to procure SAF to account for 1% of the airline’s estimated 2025 jet fuel use. In 2023, Neste supplied SAF purchased by Air Canada at San Francisco International Airport and Amsterdam Airport Schiphol.

“Air Canada is actively pursuing efforts to mitigate its GHG emissions, and SAF is a critical component of our multifaceted approach to reducing our impact on the environment and promoting environmental sustainability in our operations. This SAF purchase from Neste contributes to our target of procuring SAF for one percent of our estimated fuel use in 2025,” said Michael Rousseau, President and Chief Executive of Air Canada.

“We are proud to expand our partnership with Air Canada by supplying them with a large volume of Neste MY Sustainable Aviation Fuel for use at Vancouver Airport. It is the first time our SAF is supplied to Canada. It underlines our commitment to supporting the Canadian aviation industry in its efforts to mitigate emissions and also shows the important role that policy support can play in accelerating SAF usage. We look forward to continuing our excellent collaboration with Air Canada,” said Carl Nyberg, Executive Vice President at Neste.

Sustainable Aviation Fuel
Sustainable aviation fuel is a renewable aviation fuel providing a more sustainable alternative to conventional, fossil-based jet fuel. Using Neste MY Sustainable Aviation Fuel™ reduces greenhouse gas emissions by up to 80%* over the fuel’s life cycle, compared to using conventional jet fuel. Neste’s SAF is made from sustainably sourced, 100% renewable waste and residue raw materials, such as used cooking oil and animal fat waste. SAF is certified for commercial use and can currently be blended up to 50% with conventional jet fuel before use and works seamlessly with existing aircraft engines and fueling infrastructure.

*) When used in neat form (i.e. unblended) and calculated with established life cycle assessment (LCA) methodologies, such as CORSIA methodology

Neste (NESTE, Nasdaq Helsinki) uses science and innovative technology to transform waste and other resources into renewable fuels and circular raw materials. The company creates solutions for combating climate change and accelerating a shift to a circular economy. Being the world’s leading producer of sustainable aviation fuel (SAF) and renewable diesel and a forerunner in developing renewable and circular feedstock solutions for polymers and chemicals, the company aims to help its customers to reduce their greenhouse gas emissions by at least 20 million tons annually by 2030.

The company’s ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in Europe. Neste is committed to reaching carbon-neutral production by 2035, and will reduce the carbon emission intensity of sold products by 50% by 2040. Neste has also set high standards for biodiversity, human rights and the supply chain. The company has consistently been included in the CDP and the DJSI lists of the world’s most sustainable companies. In 2023, Neste's revenue stood at EUR 22.9 billion. Read more: neste.com

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, where members can earn or redeem points on the world’s largest airline partner network of 45 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers more travel choices than any other Canadian tour operator to hundreds of destinations worldwide, with a wide selection of hotels, flights, cruises, day tours, and car rentals. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada aims to achieve a long-term aspirational goal of net-zero GHG emissions by 2050. Air Canada shares are publicly traded on the TSX in Canada and the OTCQX in the US. READ MORE