Gold Rush Into Biofuels Offer Insurers a Huge Opportunity

As Prince Charles claims his Aston martin V8 runs on “cheese and wine,” (spoiler, it doesn’t, 85% of the fuel is still petrol) and this news from the USA on aviation fuel made from recycled gases demonstrates, the rush towards biofuels offers a golden opportunity for insurers. As activists demand an end to insurance for coal, oil and gas, the door is open to cover the process of recycling existing stuff into commercial aviation fuels instead. Here is some news from the USA;

LanzaTech has scaled and demonstrated multiple technologies at the site in partnership with the Department of Energy (DOE), DOE’s National Laboratories, and several industrial partners, including piloting a next-generation bioreactor, making chemicals, and converting ethanol made from recycled waste gases into sustainable aviation fuel (SAF). This “recycled carbon” SAF was used on October 2, 2018, on a world-first transatlantic flight from Orlando to London with Virgin Atlantic.

The process to create useful fuel from waste products isn’t easy, or cheap. (Read more here on the chemistry behind it) But the time is right as regards the politics, which means that insurers can work with governments who are pumping billions of taxpayers dollars, euros and pounds into these projects.

With the support from the Department of Energy, the site in Soperton has become a sustainable innovation hub, leveraging local talent to support domestic energy security and meet climate goals. Today, products can be found on store shelves manufactured with these technologies, including household cleaners and laundry detergents, packaging, and soon textiles and fragrances.

As part of President Biden’s climate agenda, his Administration recently announced the Sustainable Aviation Grand Challenge, an ambitious commitment involving several federal departments and agencies to scale up production of SAF to 3 billion gallons per year by 2030. LanzaTech and LanzaJet pledged to produce a combined 1 billion gallons of SAF in the U.S. by 2030.

The first step will be a first-of-a-kind SAF facility called Freedom Pines Fuels, in Soperton. Producing 10 million gallons of SAF and renewable diesel per year from sustainably sourced ethanol from rural communities, the facility will use LanzaJet’s Alcohol to Jet (ATJ) technology, developed with Pacific Northwest National Laboratory (PNNL). There are also plans to install solar power production to provide renewable electricity to the entire site for all operations.

The ethanol sourced will be complemented by the ethanol produced from a pre-pilot facility utilizing CO2 and renewable hydrogen being built at the site.  This facility, which is also co-funded by the DOE, will demonstrate a potentially limitless supply of sustainable feedstocks for domestic SAF and diesel production right in the heart of Georgia. Argonne National Lab will be a life cycle assessment partner.

Suncor, British Airways, Boeing, Alaska Airlines, and All Nippon Airways (ANA) have already made commitments to purchase and use all the SAF and renewable diesel produced at this site.

IE Comment; By producing aviation fuel from recycled waste products, climate change celebs such as Harry and Meghan, Greta and many more will be able to keep travelling the world by private jet, whilst lecturing the rest of us on why we cannot have an overseas holiday or own a car. It’s win-win, as they say at the UN, WEF and Davos.

 

About alastair walker 7049 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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