Aemetis signs $1 billion offtake agreement with Delta Air Lines for 250M gallons of SAF

In California, Aemetis, Inc. as signed offtake agreement with Delta Air Lines for 250 million gallons of blended fuel containing sustainable aviation fuel (“SAF”) to be delivered over the 10-year term of the agreement. The aggregate value of the agreement is estimated to be more than $1 billion, including LCFS, RFS, 45Q and tax credits.

Sustainable aviation fuel provides significant environmental benefits compared to petroleum jet fuel, including a lower lifecycle carbon footprint. Delta’s agreement with Aemetis builds on Delta’s current effort for a future of net zero aviation, which includes committing to airline carbon-neutrality from March 2020 onward, aspiring to replace 10 percent of its conventional jet fuel consumption with sustainable aviation fuel (SAF) by the end of 2030 and committing to set science-based targets aligned with the Paris Agreement.

The sustainable aviation fuel 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 blended sustainable aviation fuel is expected to be available for use by Delta starting in 2024.