Wednesday, February 28, 2024
Wizz Air, renowned as Europe’s fastest-growing and most environmentally conscious airline on a global scale[1], clinched the prestigious title of ‘Strategic Investment of The Year – Europe’ at the 2023 SAF Investor Awards held in London.
The SAF Investor Awards laud trailblazers in the industry who are actively working towards decarbonizing aviation through substantial transactions that propel the sector forward.
Wizz Air earned accolades for its £5 million equity injection into Firefly, an innovative biofuel firm based in the UK, aimed at bolstering research and development into feasible options for producing sustainable aviation fuel (SAF).
Firefly specializes in a distinctive process that transforms sewage sludge, a plentiful low-value waste material, into SAF. With over 57 million tonnes of sewage sludge generated annually in the UK, there exists the potential to yield 250,000 tonnes of SAF. Through its collaboration with Firefly, Wizz Air anticipates furnishing up to 525,000 tonnes of SAF[2] to its UK operations over a 15-year period commencing in 2028, with the potential to mitigate 1.5 million tonnes of CO2-eq[3].
Firefly’s SAF, slated for independent certification according to the Roundtable on Sustainable Biomaterials (RSB) standard, is anticipated to yield a 90% reduction in greenhouse gas emissions compared to conventional jet fuel over its lifecycle[4]. The biofuel firm aims to have its inaugural commercial plant operational within the next five years.
In addition to securing SAF agreements and equity investments, Wizz Air’s sustainability blueprint encompasses an ambitious fleet modernization strategy and the operation of efficient, low-cost flights. The airline leverages state-of-the-art aircraft technology and prioritizes high seat density and load factors to optimize its current operations for sustainability.
Wizz Air stands at the forefront of the aviation sector with the lowest carbon emissions per passenger/km among its peers[5] and remains steadfast in its commitment to significantly curbing its CO2 intensity by 2030.In 2023, Wizz Air set a new record with an annual average CO2 intensity of 51.5 grams per passenger/km, representing a 6.8% decrease compared to the previous year.
Wednesday, May 1, 2024
Wednesday, May 1, 2024
