Innovative companies from across the UK are invited to bid for a share of £93m over the next two years to develop low carbon fuel, with applications opening in mid-July. The fund will focus support on the most promising projects meaning those closest to the actual production stage.
Tag: aviation
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Middle East disruptions and high fuel prices halve airline profitability
The International Air Transport Association (IATA) released its latest financial outlook for the global airline industry showing a halving of profitability as a result of war-related Middle East disruptions and high fuel prices. The regional landscape, however, is highly differentiated. At the geographic centre of the Middle East war, airlines in the Middle East are expected to collectively fall into the red with weak demand and operational disruptions. All other regions are expected to deliver profits, but at reduced levels from previous projections.
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Flight cancellations in Europe due to dearth of jet fuel
The International Air Transport Association (IATA) has issued a statement saying that the International Energy Agency's assessment of potential jet fuel shortages is sobering. "We have also estimated that by the end of May we could start to see some cancellations in Europe for lack of jet fuel. This is already happening in parts of Asia. Along with doing everything possible to secure alternative supply lines, it’s important that authorities have well-communicated and well-coordinated plans in place in case rationing becomes necessary, including for slot relief,” said Willie Walsh, IATA's Director General.
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Verification of Sustainable Aviation Fuel traceability strengthened
Zemo Partnership has launched RFAS Aviation, a new voluntary assurance scheme designed to provide independent verification of Sustainable Aviation Fuel (SAF) across the UK supply chain. The scheme responds to a critical industry need for a harmonised approach to verifying SAF traceability in the downstream fuel supply chain.
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£43m boost for UK green aviation to drive growth
The investment comes as the UK Government drives forward plans for expansion at Heathrow, Gatwick and Luton airports. With the production of low-carbon fuels alone expected to add up to £5bn to the economy by 2050, the funding will drive millions of pounds of private investment into the aviation sector, says the Government.
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ZeroAvia completes financing to industrialise electric propulsion system
ZeroAvia has completed a further round of financing, led by Barclays Climate Ventures, Breakthrough Energy Ventures, Ecosystem Integrity Fund, Horizons Ventures, Summa Equity and AP Ventures, with participation from the National Wealth Fund and the Scottish National Investment Bank. With additional investment secured, ZeroAvia has extended its cash runway for the next two years and will continue to fully industrialize its hydrogen power and propulsion technology for the aviation market.