Azure Announces Plans to Develop an SAF Production Facility in Kansas
- Access to advantaged supply of feedstock and carbon sequestration.
- Completion of Front-End Engineering and Design (FEED) and related permitting requirements targeted for end of 2024.
CALGARY, AB /CNW/ - Azure 2023 Inc. ("Azure" or the "Company"), a leading developer in the sustainable aviation fuel ("SAF") industry, today announces its planned development of an SAF production facility in Cherryvale, Kansas.
Since June 2023, Azure has been progressing a FEED study, which is on track for completion in 2024. Azure is targeting a final investment decision ("FID") by early 2025; if approved, the Company is targeting to reach first production in 2027.
The facility would use commercially proven technology, allowing for efficiency in speed to market and future expansion. Once fully operational, the facility will produce approximately 135 million gallons per year of renewable fuels, primarily SAF. The use of Azure's SAF will reduce global aviation emissions by approximately 1 million tons per year, equivalent to removing emissions from roughly 200,000 cars annually.
There will be significant job creation throughout the construction and during operations of the facility. Approximately 1,500 workers will be required through construction, and operations will require approximately 150 full-time positions. Azure is dedicated to supporting the local economy and prioritizing local sourcing, where feasible.
Azure has also received significant support from the local government. On December 18, the Montgomery CountyCommission approved various tax incentives to help support the project. These incentives include a 10-year property tax exemption and an exemption on sales tax on construction materials and labor.
"We are pleased to have the opportunity to bring this project to Kansas" said Douglas Cole, CEO of Azure. "Our project combines advancements from the aviation sector with the strength of the agricultural community, while relying on the skills and expertise of the oil and gas industry. We believe that our project would help to enhance Kansas' rich aviation history and create a significant number of new construction and high-quality operations jobs. A project of this scale would not be possible without the support of local authorities, including the Montgomery County Commission."
SAF is an essential component in reducing emissions in global aviation, providing a renewable alternative that can reduce emissions by greater than 50% relative to traditional fossil-based jet fuel. SAF is a certified drop-in replacement fuel for commercial airlines and is in use today, globally.
Azure's goal of producing SAF with the lowest emissions is further supported through an executed letter of intent with CapturePoint Solutions to explore the opportunity to tie-in to its existing and operating carbon dioxide (CO2) sequestration network and infrastructure.
Azure is a privately held corporation solely focused on developing SAF-focused renewable fuels production facilities, which are required to meet current domestic and international mandates related to the reduction of CO2 emissions generated by the aviation sector. As a certified drop-in fuel, the use of Azure's SAF in existing jet engines will provide for a reduction of emissions by greater than 50% when compared to traditional fossil-based jet fuel, providing a path for the aviation industry to significantly reduce its emissions within the next decade without the need to replace or materially alter the existing aviation fleet. To learn more, visit www.azuresf.com.
About CapturePoint Solutions
CapturePoint Solutions is a privately held company based in Allen, Texas focused on leading-edge carbon management services in an era of energy transition. To learn more, visit www.capturepointllc.com.