Pension fund investor APG is backing a firm that aims to develop and scale up the adoption of sustainable aviation fuels (SAF) globally.
APG, the investment manager for Dutch public-sector pension giant ABP, has committed €250m to SkyNRG, in a bid to facilitate a wider uptake of sustainable aviation fuels.
The investment forms part of a €300m funding round intended to support the firm’s plans to develop and construct SAF production facilities in Delfzijl, the Netherlands, as well as in Sweden (Project SkyKraft) and the United States (Project Wigeon).
The firm had previously received backing from infrastructure manager Macquarie Asset Management (MAM), which invested €175m in 2023 and is now increasing its overall investment to €225m.
Martin van der Pot, head of private investments at ABP, said: “SkyNRG represents ABP’s first investment in the SAF sector, which is closely aligned with our ambition to create impact by investing at the forefront in energy transition assets that meet our investment criteria. This strategic investment underscores our commitment to supporting innovative solutions that drive the decarbonisation of the infrastructure industry.”
Aviation accounts for 2.5% of global emissions and has traditionally been viewed as a sector that is relatively hard to abate. But over the past two years, large institutional investors including Macquarie and IFM have made their first commitments to scaling up the development of greener alternatives to conventional aviation fuels. Last year, another Dutch pension fund, PGGM, committed €120m to French SAF firm Elyse Energy.
