LANZAJET TECHNOLOGY DEPLOYMENT ADVANCES IN JAPAN AS COSMO OIL SECURES GOVERNMENT FUNDING FOR SIGNIFICANT ETHANOL-TO-SAF PRODUCTION PROJECT
Government Subsidy Will Advance SAF Production in Japan Planning to Use LanzaJet's Next-Gen Technology
CHICAGO, Feb. 24, 2025 /PRNewswire/ -- LanzaJet, a leading sustainable fuels technology company and sustainable fuels producer, today announced that Cosmo Oil Co. Ltd (Cosmo Oil) has been selected for a FY2024 subsidy from Japan's Ministry of Economy, Trade and Industry (METI) to support a project developed with Mitsui & Co. (Mitsui) that will plan to utilize LanzaJet technology. This funding marks a significant milestone for large-scale domestic SAF production in Japan and increasing SAF supply for the aviation industry.
"Today's announcement signifies an important milestone for SAF production and scaling of the industry in Japan. LanzaJet's proprietary alcohol-to-jet technology is helping governments worldwide as well as the global aviation industry meet ambitious demands for sustainable growth and alternative fuels goals," said Jimmy Samartzis, Chief Executive Officer of LanzaJet. "In support of Cosmo Oil, Mitsui & Co., and the Japanese government, we look forward to accelerating the development of domestic SAF and advancing an energy-diverse aviation sector."
Global demand for SAF is expected to grow rapidly, and Japan has set a goal to diversify 10% of petroleum-based fuels with alternatives by 2030. Planning on utilizing LanzaJet's proprietary ethanol to SAF technology, Cosmo Oil intends to leverage the company's expertise in plant operations, fuel quality control, and logistics with Mitsui's capabilities in ethanol procurement to develop the project, which will establish a large-scale SAF production facility and create new business opportunities within Japan's growing biofuels sector.
Upon completion, the project will produce approximately 150,000 kiloliters of SAF and 17,000 kiloliters of renewable diesel annually at the Sakaide Logistics Base starting in 2029.
ABOUT LANZAJET
LanzaJet is a leading alternative fuels technology provider and producer with patented ethanol-based alcohol-to-jet (ATJ) technology which includes the use of Technip Energies ethanol-to-ethylene solution. LanzaJet is creating an opportunity for future generations by accelerating the production and deployment of SAF and other alternative fuel technologies critical to transform the global economy. LanzaJet has received many global accolades and was recently named TIME100 Most Influential Companies for 2024 and a Rising Star Company of the Year by S&P Global. Further information is available at https://www.lanzajet.com/.
SOURCE LanzaJet
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