A decal stating “This Plane Flies On Renewable Gas” is seen on a Gulfstream 650ER enterprise jet on the Nationwide Enterprise Aviation Affiliation (NBAA) exhibition in Las Vegas, Nevada, U.S. October 21, 2019. REUTERS/David Becker/File Photograph Acquire Licensing Rights
Nov 16 (Reuters) – Australia’s Macquarie Group Ltd (MQG.AX) stated on Thursday its asset administration arm will make an preliminary funding of as much as 175 million euros (about $190 million) in Netherlands-based sustainable aviation gasoline (SAF) provider SkyNRG.
There was an growing quantity of curiosity within the SAF trade, with many fund managers exploring alternatives to capitalize on a sector gaining momentum as airways lean in direction of inexperienced fuels to scale back emissions and meet their targets.
Macquarie’s funding, via its GIG Vitality Transition Options Fund, will probably be its first within the SAF area.
SkyNRG will use the funds to construct devoted SAF services in Europe and the USA by 2030.
($1 = 0.9225 euros)
Reporting by Roushni Nair in Bengaluru; Modifying by Savio D’Souza
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