Aemetis (NASDAQ:AMTX) signed an offtake agreement with oneworld Alliance airline member Finnair for 17.5M gallons of blended sustainable aviation fuel (SAF) to be delivered over the 7 year term of the agreement.
The value of the contract including incentives is ~$70M.
The blended SAF to be supplied under this agreement is 40% SAF and 60% Petroleum Jet A to meet international blending standards.
The SAF is expected to be produced by the Aemetis renewable jet/diesel plant under development on a 125 acre former U.S. Army Ammunition production plant site in Riverbank, California.
The fuel is scheduled to commence deliveries to Finnair in 2025.
"The supply of SAF to Finnair is a part of $2B of contracts with oneworld Alliance members to reduce the environmental impact of aviation," Chairman and CEO Eric McAfee commented.