Spain – Iberia Airlines, which is a member of International Airlines Group (IAG), and Gevo have agreed to a new fuel sales contract. In accordance with the agreement, Gevo will supply Iberia Airlines with 6 million gallons of sustainable aviation fuel (SAF) annually for five years.
Iberia Airlines anticipates starting to use SAF from Gevo to refuel its planes in 2028. Over a five-year period, the agreement’s expected worth is estimated to be $165 million.
Iberia Airlines has its headquarters in Madrid and runs a global airline network out of that city. Iberia Airlines, a subsidiary of IAG, has vowed to use 10 percent sustainable aviation fuel (SAF) by 2030 and to achieve net-zero carbon emissions by 2050. One of the most important ways for Iberia Airlines to realize its ambitious climate change objectives is through the use of SAF.
Gevo is still working toward its stated objective of creating and selling 1 billion gallons of SAF by 2030. Gevo has a business model created to reduce greenhouse-gas emissions to net-zero over the entire lifecycle of each gallon of advanced renewable fuel (including its SAF), which includes the emissions brought on by burning the fuel in engines to power transportation. Gevo uses the Argonne GREET model to provide a lifecycle inventory of carbon.