ITOCHU Announces Investment in Solena Fuels Corporation
OREANDA-NEWS. ITOCHU Corporation has invested in Solena Fuels Corporation, a U.S. company with proprietary technology to convert municipal solid waste and other biomass feedstocks into sustainable biofuels, such as aviation biofuel.
Solena's Integrated Biomass Gas to Liquid (IBGTL) solution combines its proprietary high-temperature plasma gasification technology with a Gas to Liquid (GTL) process platform, to convert municipal solid waste, agricultural/forest residue and other biomass into aviation biofuel and other high quality sustainable biofuels. The aviation biofuel produced by this solution has been certified by global aviation fuel standards and requires no modifications or special measures to airframes, jet engines, existing infrastructure, or the current aviation fuel distribution system.
Solena is partnered with British Airways, to develop the "GreenSky London" project, to be located in greater London, which will convert municipal solid waste into approximately 100,000 tonnes of liquid fuels per annum, including aviation biofuel, sulfur-free biodiesel fuel and bio-naphtha. This first commercial scale facility is projected to commence operations in 2017.
The aviation industry currently produces about 2% of global greenhouse gas (GHG) emissions. Due to the growing demand for air transportation worldwide, this amount is projected to increase by 3% to 4% per year. The International Civil Aviation Organization (ICAO), a specialized agency of the United Nations, made a resolution for aviation industry to: improve fuel efficiency by an average of 1.5% per annum; cap GHG emissions from 2020 - Carbon Neutral Growth 2020 (CNG-2020); and cut 50% of GHG emissions by 2050, compared to 2005 levels.
The International Air Transport Association (IATA), the trade association that represents some 240 airlines, is coordinating with its member airlines to accomplish the ICAO GHG emissions reduction targets. Airlines around the world are proactively promoting aviation biofuel initiatives because it is considered that these GHG emissions reduction targets cannot be achieved without widespread use of biofuel.
ITOCHU will support Solena's business development initiatives around the world, including Japan, as part of its effort to contribute to the reduction of global GHG emissions worldwide.