Aemetis Signs Agreement With Cathay Pacific to Supply 38 Million Gallons of Sustainable Aviation Fuel
CUPERTINO, CA, Sept. 19, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Aemetis, Inc. (NASDAQ: AMTX), a renewable fuels company focused on negative carbon intensity products, announced today the volume of an offtake agreement that has been signed with Cathay Pacific Airways Limited (“Cathay Pacific”) for 38 million gallons of blended sustainable aviation fuel (“SAF”) to be delivered over the 7 year term of the agreement.
- Sustainable aviation fuel provides significant environmental benefits compared to petroleum jet fuel, including a lower lifecycle carbon footprint and reduced contrails.
- The blended sustainable aviation fuel to be supplied under this agreement is 40% SAF and 60% Petroleum Jet A to meet international blending standards.
- The supply agreement with Aemetis builds on Cathay Pacifics ongoing commitment towards meeting its net-zero carbon emissions target by 2050.
- The use of sustainable aviation fuel by Cathay Pacific is another step by the oneworld Alliance toward lowering the environmental impact of aviation, stated Eric McAfee, Chairman and CEO of Aemetis.