Welcome to The SAF Podcast, the only podcast on the internet that exclusively covers sustainable aviation fuel (SAF). So if you want to find out the real issues and challenges are for commercialising and scaling SAF production, look no further. Every week we will be hearing from senior industry leaders who are actively shaping the future of SAF and aviation. Hosted by Oscar Henderson and brought to you by the team at SAF Investor. Connect with us at www.safinvestor.com
Iris Warnaar, SkyNRG and Mark Kelly, ICF: SAF Market Outlook 2026
For the third year running, Oscar sits down to unpack the 2026 SAF Market Outlook report once again with Mark Kelly (ICF) and this year with Iris Warnaar (SkyNRG). The headline numbers: SAF demand is forecast to reach 12.8 million tonnes by 2030 (3.6% of jet fuel) and climb past 190 million tonnes by 2050, though US policy headwinds have pulled the near-term forecast down from last year's projections. On supply, 2030 capacity now stands at 18.5 million tonnes, creating a brief surplus before the market tightens again — and Asia has overtaken every other region to lead the global pipeline, largely to feed European demand. The conversation digs into the HEFA feedstock constraint that still hasn't gone away, genuine, if modest, progress on eSAF and alcohol-to-jet and China's evolving role as both supplier and its own energy security case study. The episode closes with the third section of the report, a proper stress-test of the energy security argument that's dominated SAF conversations all year: real driver of investment, or narrative running ahead of the economics? Iris brings the optimism, Mark brings the risk register, and between them the picture that emerges is "positive but uneven" — with plenty left to sort out before the 2027 report rolls around. If you have not already read the full report you can find it here: https://skynrg.com/2026-saf-market-outlook/
James Hygate, Firefly: "You can't not do it, if you know how to do it"
James Hygate, CEO and founder of Firefly, returns to The SAF Podcast for the first time since December 2023 — and a lot has happened. James brings his characteristic blend of technical depth, founder candour, and big-picture ambition to a brilliant wide ranging discussion. James opens with a comprehensive update on Firefly's progress: the selection of Turkish engineering firm Altaca as their HTL technology partner, the securing of a site at an existing refinery in Harwich for the downstream hydrotreating facility, and supply agreements with water companies including Severn Trent and Anglian Water that already cover more feedstock than the first facility needs. He also touches on the significance of the Boeing investment, the Builders Vision backing, and the ongoing Series B round that Firefly hopes to close shortly. James also shares his observations from a recent visit to Shanghai on the pace of Chinese SAF and renewables infrastructure development, the implications of used cooking oil supply being internalised within China, and what lessons — if any — Western developers can draw from "China speed." We also explore the trajectory of the wider SAF industry, James's concerns about policy wobble and its chilling effect on infrastructure capital, and a frank view on whether some SAF projects are gaming mandates rather than genuinely pursuing decarbonisation. Throughout, James returns to the thread that has defined his 20-year career in low carbon fuels: the only thing worth doing is something that can move the needle on climate change. For Firefly, that means wet-waste-to-jet at gigaton scale — and James believes the technology stack to do it is now in place.
Amy Herbert, Arcadia eFuels & Thomas Engelmann, KGAL: Breaking the eSAF deadlock
In this episode, Oscar is joined by two guests at the heart of Europe's eSAF scale-up effort: Amy Herbert, Arcadia eFuels, and Thomas Engelmann, KGAL— both key figures within Project SkyPower, the industry coalition to the European Commission to put in place the conditions needed to bring eSAF projects to final investment decision. Amy opens with an overview of Arcadia eFuels and its flagship Project Endor in Denmark — one of the most advanced eSAF projects in Europe, with FEED complete, permits secured, and an offtake agreement on the verge of being signed. Thomas explains KGAL's role as an infrastructure equity investor — with a stake in Project Endor — giving him a view of the eSAF financing challenge. The conversation digs into Project SkyPower's ten-point recommendation letter to the European Commission, with a particular focus on the proposed double-sided auction mechanism and the role of H2 Global as a market-making intermediary. We explore why this instrument is seen as critical to breaking the chicken-and-egg deadlock between offtakers and producers — and why the timeline for getting it in place is a source of real concern, given that the 2030 eSAF mandates are fast approaching and greenfield refineries take years to build. We also have a frank debate on airline competitiveness and the level playing field argument, whether eSAF is being treated fairly given that new fossil refineries would face comparable economics, why renewable electricity cost — not policy complexity — is a fundamental driver of eSAF pricing, and why the question isn't really whether to be optimistic about 2030, but what Plan B looks like if Europe fails to act.
The SAF World Cup
Getting fully behind World Cup fever, SAF Investor is running The SAF World Cup. Gathering experts from different countries, we will be running a knock out style bracket to find the most promising SAF country in the world. Decided by popular vote! Whether it is policies, access to capital, offtakers, feedstock access, infrastructure expertise all these will be key discussion points. Join for a bit of World Cup fun alongside some serious discussion! Speakers include: Trevor Best, Syzygy Plasmonics - Brazil Philippe Haffner, Haffner Energy - France Jim Stonecipher, EdyMac - United States of America Andrew Symes, OXCCU - England Izabela Santos, StratX Group - Sweden Listen to the full webinar on our podcast for some light but informative SAF competition.
Dan Sutton, Syntholene: Building on a volcano and betting on geothermal
In this episode, we sit down with Dan Sutton, CEO and co-founder of Syntholene, to explore their geothermally integrated synthetic fuel production technology currently being developed in Iceland. Dan explains why geothermal energy is such a compelling foundation for eSAF production, how Syntholene's solid oxide electrolyzer cell (SOEC) technology — integrated with Iceland's abundant heat and electricity — creates a step-change in hydrogen cost reduction, and why the company believes it can achieve unit economics competitive with fossil fuels without relying on perpetual subsidies. We also explore the independent feasibility study conducted by notable alternative fuels sceptic Robert Rapier, whose findings validated Syntholene's scientific fundamentals while identifying the integration and construction risks that Dan openly acknowledges — and explains how his team is managing them. The conversation broadens into project development philosophy, the replicability of the Iceland model in geothermally active regions globally and how you manage earthquake and volcano risk, Iceland's strikingly low-bureaucracy environment for infrastructure permitting, and a frank debate on whether European eSAF policy is addressing the real problem — or papering over a fundamental unit economics challenge. We close with Syntholene's unconventional but deliberate choice to go public on the TSX Venture Exchange — and why Dan believes building in public, with a diversified investor base, gives the company more control over its destiny than the traditional venture capital route.
Mikala Grubb, Topsoe: The 100th episode and tech behind a third of the world's SAF
For the 100th episode of The SAF Podcast, we're joined by Mikala Grubb, Senior Vice President of Technologies, Topsoe — one of the world's leading catalysis and technology companies, whose technology produces an estimated third of all the SAF available globally today. We start with feedstocks — why the constraints on used cooking oil and animal fats are tightening, what a post-2030 feedstock crunch could look like, and which next-generation feedstock options (from intermediate crops and municipal solid waste to tire-derived feedstocks) are genuinely gaining traction versus those still some way from commercial reality. We then turn to technology: how Topsoe's HydroFlex HEFA technology became the commercial backbone of today's SAF industry, the role co-processing can play as a pragmatic stepping stone, and why Mikala's advice to developers facing ASTM certification delays is simple — start with renewable diesel and switch when certified. We also explore the ESAF pathway, the importance of the Topsoe-DLR-Sasol demonstration plant currently under construction, and why Topsoe is ready to sign full commercial-scale ESAF contracts today. Throughout, a clear theme emerges: successful SAF projects are built on feedstock security, offtake certainty, the right partner ecosystem, and a willingness to be pragmatic. Happy 100th, The SAF Podcast. Thank you to all the guests we have had over the last 100 episodes and to everyone that has listened!
Adam Forsyth, Longspur Capital: Khaki is the new green
Adam Forsyth, founder of Longspur Capital joins for the latest episode of The SAF Podcast. A leading voice in clean energy investment, we explore how sustainable aviation fuel (SAF) fits into the broader energy transition — and what it will take to unlock the capital needed to scale it. Adam draws on decades of experience across equity research, corporate finance, and clean energy advisory to unpack the structural financing challenges unique to SAF: the offtake mismatch, the difficulty of securing long-term airline contracts, and why the "alignment problem" is one of the biggest barriers to reaching final investment decision on advanced fuel projects. We explore how geopolitical shifts — particularly the fracturing of the post-WWII trade consensus — are reshaping energy investment, introducing a "security premium" that may, in some ways, work in SAF's favour. We also discuss the evolving role of carbon dioxide removal credits, the lessons SAF developers can draw from analogous sectors like grid-scale batteries and green hydrogen, and why the UK's Contract for Difference model offers a potentially powerful template for SAF policy support. From the prospects of HEFA feedstock constraints and eSAF economics, this is a wide-ranging conversation for anyone working at the intersection of clean energy finance and aviation decarbonisation.
In this episode, we sit down with Alasdair Lumsden, co-founder of Carbon Neutral Fuels, to explore how taking a screwdriver to a VCR led to his time in tech entrepreneurship, which eventually ended up in the world of sustainable aviation fuel. Alasdair walks us through the company's Power-to-Liquid e-SAF project, Project Starling — a commercial-scale facility planned for Workington, Cumbria, targeting 25,000 tonnes per year of SAF by 2031. We dig into the nuts and bolts of CNF's technology stack — solid oxide electrolysis (with Topsoe), Fischer-Tropsch synthesis (Johnson Matthey's FT CANS process), and upgrading technology (Honeywell UOP) — and how CNF is integrating waste heat recovery to improve efficiency and unit economics. Alasdair also explains the decision to skip the demo phase and go straight to commercial scale, why their CO2 sourcing strategy shifted from 100% direct air capture to a mix of biogenic sources, and how they secured a 2031 grid connection date by choosing Cumbria over more traditional industrial sites. On the commercial side, Alasdair discusses how CNF has raised over £11 million to date — including £7.4 million from the UK Advanced Fuels Fund across two rounds — and is now mid-way through a £24 million Series A, targeting patient capital and strategic investors. We also cover offtake strategy, the Revenue Certainty Mechanism, the hydrogen policy disconnect, and why Alasdair sees the UK's DFT as a genuine competitive advantage for SAF developers looking to de-risk before expanding internationally.
This week's episode sees Vinesh Sinha, CEO, FatHopes Energy, joins Oscar Henderson for a conversation on the SAF Podcast. Vinesh Sinha dropped out of university in 2007, inspired by a Top Gear episode, and built FatHopes Energy into one of Southeast Asia's most sophisticated sustainable fuel feedstock operations — with a digital traceability platform years ahead of the competition. In this episode, Vinesh talks feedstock aggregation, the realities of scaling a waste-oil supply chain across Southeast Asia, and why FatHopes Energy is now moving into SAF refining with a 300,000-tonne greenfield plant targeting operations by 2030. Plus: the truth about POME and palm oil, why AI is the only way to solve traceability at scale, and why Vinesh thinks the SAF industry is dangerously underestimating three things — feedstock, infrastructure, and integrity. This is a wide ranging conversation and one that digs into the critical components that is helping build Malaysia as a SAF global hub. Check out the full episode on your favourite platforms or use the link in the comments.
Shubhda Kaushik, Alternative Energy Company: Bankability and The Decisive Decade
In this episode of The SAF Podcast , Oscar is joined by Shubhda Kaushik, managing director & chief executive officer, Alternative Energy Company, to explore what it really takes to move sustainable aviation fuel projects from ambition to final investment decision. Drawing on experience at Standard Chartered, Bain and McKinsey and Maersk, giving her a rounded perspective across finance, strategy and commercial practicality. Shubhda explains why capital for energy transition projects is not scarce, but selective — and why bankability must be built in from day zero. The conversation also dives into Shubhda’s new book, The Decisive Decade - 2026 Volume I: A Practitioner's Manual - What will it take to win on bankability in the next phase of energy transition. We explore the core bankability framework behind it: revenue certainty, infrastructure access, execution capability and risk allocation. This is just volume I, so if you enjoyed this stay tuned for volume II for a check in on the energy transition's progress. This is a practical discussion for SAF producers, airlines, investors, lenders and anyone trying to understand why so many projects look promising on paper but struggle to reach financial close. This episode gives you a great introduction to what is explain at length in the book, which you can find here: https://www.amazon.co.uk/Decisive-Decade-Practitioners-bankability-transition/dp/B0GZHQR25T/ref=sr_1_1?crid=3MEKZBXCEA3ZB&dib=eyJ2IjoiMSJ9.ikEBk10suF88vWdw1KH_CcBNnz9j6PniHNHHDWsie_fENicXTm3b2WClyMPMQ4pLvgKL6EJah0NMTppyB8GMRvqW_nJ3SG99vgYueNEUz1I.rZjcjiPvwirmc57l23MD1XG5HYaUI2osS2EXQErFT6I&dib_tag=se&keywords=the+decisive+decade&qid=1778142508&sprefix=the+decisive+decad%2Caps%2C293&sr=8-1
Noaman Al Adhami, Alfanar Projects: Lighting the way for 2G SAF
Noaman Al Adhami, UK Country Head at Alfanar Projects, is this week's guest on The SAF Podcast. He joins Oscar for a discussion into Lighthouse Green Fuels — one of the UK’s most closely watched sustainable aviation fuel (SAF) projects. We begin by looking at why Alfanar chose to initially focus SAF production in the UK and the decisions around site selection. We then explore what it takes to develop a second-generation SAF project at scale, including the gasification and FT-SPK pathway, feedstock selection, carbon capture, project financing, and the role of the UK SAF mandate in creating the right conditions for investment. Noaman also explains why Alfanar is starting with biomass and agricultural residues, how the project could evolve towards more challenging waste feedstocks, the ongoing Carbon Capture application they have recently submitted and how the project has been financed to this point and future plans for financing project construction. If you want to understand the real-world challenges of scaling advanced SAF production in the UK, this is an episode you won’t want to miss. There is still time to submit your applications for the SAF Investor Deal of the Year Awards, we would love to hear from you about any financing deals that have taken place over the past year, your application can be submitted here: https://docs.google.com/forms/d/e/1FAIpQLScwrzV8VN8oqA6c-e0GMlgZmttTQ-U-1D9XxnOgeeQV-ITeiQ/viewform?usp=header
Patrick Sieb, Climate Tech Partners: Getting into the weeds of VC due diligence and corporate partnerships
In this episode of The SAF Podcast, Oscar is joined by Patrick Sieb, Managing Partner at Climate Tech Partners, for a conversation on what it really takes to finance and scale sustainable aviation fuel. From Series A climate tech investing to corporate-startup partnerships and the infrastructure challenges behind SAF production, Patrick shares a practical investor’s view on how promising technologies can move from early traction to commercial deployment. Climate Tech Partners investment model is based on deep due diligence, originating from his time a Macquarie, with focus in Transport, Energy and Mining sectors. We dive into a variety of topics including: How Climate Tech Partners approaches Series A climate tech investing and why that stage can be critical for SAF and other capital-intensive technologies Why bridging the “valley of death” remains one of the biggest challenges for deep tech and aviation decarbonisation startups How corporate relationships can help de-risk investments, including Climate Tech Partners’ work with Qantas and Airbus The practicalities of running a VC fund, raising capital from LPs and portfolio diversification What the dedicated sidecar investment vehicle means for aviation-focused climate technologies and SAF-related opportunities Why SAF scale-up depends on much more than strong technology, including the role of feedstock, infrastructure, energy and financing What investors are really looking for when assessing techno-economics, commercial traction and science risk Why climate tech is shifting from “moonshot” narratives to more pragmatic pathways focused on cost parity and bankability How Australia and the wider APAC region could fit into the future of sustainable aviation fuel production and aviation decarbonisation Also another reminder that we are still accepting applications for the SAF Investor Deal of the Year awards. If you worked on a deal we would love for you to submit it via the following link: https://docs.google.com/forms/d/e/1FAIpQLScwrzV8VN8oqA6c-e0GMlgZmttTQ-U-1D9XxnOgeeQV-ITeiQ/viewform?usp=header
Nico Nicholas, ZEERO Group: One person's waste is another one's treasure
In this episode of The SAF Podcast, Oscar is joined by Nico Nicholas, Co-Founder and CEO of Zeero Group, for a discussion on the commercial and strategic realities of scaling the Hydrothermal Liquefaction SAF pathway. The conversation goes beyond the technical basics to look at how waste-to-fuel projects are financed, how they can be tailored to local infrastructure needs, and why collaboration across sectors may be essential if SAF is to scale at pace. We dive into a variety of topics including: How ZEERO Group is approaching project development, with each facility structured around local waste streams, local infrastructure and location-specific business models Why combining waste management and fuel production could create a stronger commercial case for SAF-linked projects The financing logic behind these developments, including co-investment models, strategic partners and government-backed support mechanisms Why investor confidence and proof of delivery remain critical for emerging pathways looking to move from concept to commercial scale The role of certification timelines and regulatory processes in shaping how quickly new SAF pathways can enter the market Why scaling SAF may require much deeper collaboration between aviation, municipalities, tourism, shipping and energy stakeholders This discussion picks up on some key themes from across the SAF industry so is well worth a listen if you are part of the growing ecosystem that is going o make commercial SAF production a global success. We also almost manage to go the whole episode without a crude joke/pun...almost! We are also currently accepting applications for the SAF Investor Deal of the Year awards. If you have been involved in a financing deal in the last year, we would love to hear about it. You can find the application form here: https://docs.google.com/forms/d/e/1FAIpQLScwrzV8VN8oqA6c-e0GMlgZmttTQ-U-1D9XxnOgeeQV-ITeiQ/viewform
Maria Whittaker, Abra Group: The quest for SAF in Latin America
In this episode of The SAF Podcast, host Oscar is joined by Maria Whittaker, Corporate Responsibility Officer at Abra Group — the airline group behind Avianca and GOL, serving nearly 70 million passengers across Latin America. Maria unpacks the unique challenges and opportunities of scaling sustainable aviation fuel in a region where aviation provides essential connectivity, fuel costs represent up to 40% of operational expenses, and SAF production is still in its earliest stages. We cover: 🌎 Why Latin America is at a different stage of SAF development than Europe or the US 📋 Brazil's incoming SAF mandate (starting at 1% in 2027, rising to 10% by 2037) 🤝 Abra's groundbreaking Article 6 collaboration with Sumitomo Corporation to create a book-and-claim SAF export mechanism between Brazil and Japan 💰 The capital and off-take challenges facing SAF producers in the region ✈️ How Avianca was ranked #1 globally for reducing emissions intensity while growing 🔮 Maria's vision for the Latin American SAF market by 2030 Whether you're an investor, policymaker, airline professional or SAF producer, this episode offers a compelling window into one of the most dynamic and underexplored SAF markets in the world. 🎧 Subscribe on Apple Podcasts and Spotify, or wherever you get your podcasts, so you never miss an episode.
Kenneth Hill, BioCarbon Strategies: Deciphering SAF's Alphabetti Spaghetti
Kenneth Hill, BioCarbon Strategies joins us for this episode of The SAF Podcast as we knee deep in the alphabet soup of North American tax policy. Ken brings unique insight as a former U.S. Department of Energy financing official who worked on projects like Montana Renewables and Gevo, combined with current experience vetting SAF projects and advising investors on bankability across the US, Canada, and emerging markets. Key Topics Covered: 🇺🇸 US SAF Market Grade: From B+ (one year ago) to C+/B- today—a setback driven by policy uncertainty, funding challenges, and administration headwinds. Ken explains why the trajectory is shifting back toward optimism in 2026. 📋 The SAF Act (Securing America's Fuel Bill): A bipartisan proposal restoring the $1.75/gallon bonus credit, extending availability retroactively, and creating crucial market certainty. Why passage by November 2024 matters for stability and investment confidence. 🌾 Farm Bill SAF Support: How the 5-year agriculture bill (currently 3 years overdue) addresses feedstock supply chain enablement and USDA loan guarantees up to $250 million. The critical difference between supply-side support and direct financing. 💰 45-Z Clean Fuel Production Tax Credit: The shift from blender's credits to production credits—and why guidance from the U.S. Treasury expected by summer 2026 is critical to project financing. 🏛️ Investment Tax Credits vs. Production Tax Credits: Ken explains the investor preference for investment credits ($600M upfront on a $2B project) over production credits (ongoing incentives that risk expiration). Why the structure matters enormously for capital deployment. 🇨🇦 CANADIAN POLICY DEEP DIVE: The Biofuels Production Incentive as a bridge to help producers survive the shift from the US blenders credit to production credit. The $15 billion CAD Canada Growth Fund for green projects. Also, Ken explains the expected amendments for the Clean Fuel Regulations (CFR). 🔑 Permitting as the Bottleneck: The often-overlooked critical issue in both US and Canadian project development. Why streamlined permitting is essential for scaling—and how power generation permit timelines (6 years) exceed solar build times (24 months). 💼 Bankability Requirements in 2026: Why projects today need multiple stacks working simultaneously—price stack (credits + subsidies), offtake stack (airlines + carbon buyers), and feedstock stack. 🌍 Global Demand & Carbon Markets: Why voluntary corporate buyers are as critical as policy mandates. The mix needed: government incentives, mandates, voluntary carbon markets, and offtake diversity to derisk projects. 🚀 North American Momentum: Why 2026 is the pivotal year—with clarity on SAF Act, Farm Bill, 45-Z guidance, and Canadian CFR amendments all expected. The potential bounce-back from 2025's lull to accelerated deployment post-2027.
Jan Toscka, Zaffra: Realising the romantic potential of eSAF
This episode of The SAF Podcast sees Jan Toschka, CEO at Zaffra, join Oscar for a wide ranging discussion on the potential of eSAF and the Power-to-Liquid pathway. Jan brings 27 years of energy sector experience—including leading Shell Aviation as its president—to his role building Zaffra, a 50/50 joint venture between Sasol and Tops. Together, they're leveraging their technology expertise and project development experience to commercialize eSAF. Key Topics Covered: 🇩🇪 The Concrete Chemicals Flagship Project: A 40,000-ton e-SAF facility in Brandenburg, Germany, powered by local renewable wind energy and green hydrogen. Why this project captures the entire German 2030 mandate potential and how €350 million in state funding was negotiated to bridge the cost competitiveness gap. 🌍 Global Site Selection & Project Development: From Spain (with partner Moeve) to the Nordics (abundant renewable electricity) to China (cost-competitive locations), Zaffra's portfolio-based approach to scaling SAF production. Why bespoke project solutions are evolving toward scalable, duplicable models. ⚡ Feedstock Security & Hydrogen Infrastructure: How Zaffra secures green hydrogen through local wind farms, electrolyser projects, and emerging hydrogen pipeline networks—critical to both project financing and operational resilience. 🤝 The Power of Shareholder Credibility: Why Sasol and Topsoe's proven track record—with Fischer-Tropsch technology deployed in 4 out of 10 SAF plants globally—accelerates project development, partner engagement, and capital raising. 💰 Financing the First-of-a-Kind Projects: The critical challenge of proving bankability for novel eSAF projects and how technology credibility, project delivery experience, and operational expertise unlock institutional and commercial capital. 🏛️ The Sustainable Transport Investment Plan (STIP) & Double-Sided Auctions: How Europe's latest policy framework is reshaping market dynamics. Jan explains the mechanics of double-sided auctions: a state-funded midstream entity bridges the gap between producers needing 10-year security and offtakers wanting flexibility as costs decline. 📈 Cost Curves & Learning Economics: Drawing parallels to solar's 15x cost reduction in 25 years, Jan argues e-SAF costs will follow predictable learning curves once the industry gains scale and momentum—but only if players commit to entering the market now. ✈️ Leveling the Playing Field: The crucial policy conversation around European airline competitiveness, international jurisdiction alignment, and how SAF costs—estimated at €5-7 per intra-European ticket by 2035—are trivial compared to other travel expenses. This is a fantastic listen to really understand the practical challenges of developing eSAF production and how an ecosystem focused approach is crucial to pushing projects through to FID and commercial production. Huge thank you to Jan for being so generous with his time and bringing such clarity to this discussion.
Green Finance Institute - The personal trainers for SAF project finance
In this episode, we dive deep into the financing challenges and solutions driving the sustainable aviation fuel (SAF) industry forward with Mahesh Roy, Programme Director, SAF at the Green Finance Institute. Mahesh shares his unique journey from accidental banking career in Australia to leading green finance initiatives across the UK and EU. He explains what makes SAF fundamentally different from renewable energy industries and why the financing requirements are so complex. Key Topics Covered: ✈️ Sustainable Aviation Fuel Project Finance: Understanding venture-scale risk with infrastructure-sized capital requirements, the role of EPC wraps, warranties, and technology licensing challenges 💰 Revenue Certainty Mechanisms (RCM): Why the UK's guaranteed strike price model and EU's double-sided auctions are critical to bankability and market creation 🚀 SAF Accelerators: How project accelerators de-risk first-of-a-kind projects by quantifying residual risks across EPC, feedstock, and offtake categories 🏭 Project Delivery Risk: The need for innovative risk transfer mechanisms including public finance solutions, insurance products, and export credit agency involvement ⚡ Hydrogen and E-SAF Scalability: The importance of joined-up thinking on green electrons, hydrogen production, and feedstock availability 🌍 Policy & Capital Deployment: Why government commitment to mandates and revenue certainty mechanisms is driving institutional investment in SAF projects Learn why the first wave of projects getting to final investment decision (FID) will be critical to unlocking billions in commercial and institutional capital, and discover which emerging SAF production pathways could transform aviation decarbonization. If you enjoy the podcast you can also check out our weekly newsletter with in depth interviews with some more of the major players in scaling SAF. Similar to the podcast, but in written form! Sign up to receive it here: https://info.corporatejetinvestor.com/saf-investor-newsletter-sign-up
DG Fuels - Strategy at the heart of everything
In this episode of The SAF Podcast, host Oscar sits down with Chris Chaput — a former Northwest Airlines executive, Morgan Stanley investment banker, and airline restructuring specialist — to unpack how DG Fuels is not just developing a SAF project, but a SAF platform. We cover: DG Fuels' gasification-to-Fischer-Tropsch technology and their patented 97–98% carbon conversion efficiency How strategically building your partners (Johnson Matthey, Honeywell, NextChem) and EPC (Samsung & Black & Veatch) underwrites bankability and execution. Why their Louisiana facility on the Mississippi River is strategically positioned for both US and European markets Long-term offtake agreements already signed with Delta, Air France, and KLM — and why demand outpaces what one facility can produce How ~25% of their output may qualify as eSAF under EU RefuelEU regulations, unlocking premium pricing The IRA tax credit landscape (45V, 45Q, 45Y), RINs, LCFS, and how DG Fuels' revenue stack holds up under policy uncertainty A $750M equity raise, FID targets for 2025, and what it means to build a SAF platform — not just a project Why resilience has been their biggest challenge, and their greatest achievement This is a fascinating discussion and highlights how both strategy and strong identity makes a strong prospect in SAF.
FGE NexantECA - The building blocks for SAF project development
This week's episode of The SAF Podcast sees Clive Gibson and Connie Lo from FGE NexantECA join Oscar. This episode is a must listen if you want a blueprint of how to develop a SAF project, what separates investable SAF projects from optimistic slide decks. Hot off the back of FGE NexantECA's feasibility study with Fathopes Energy completing. Clive breaks down feasibility as a set of parallel workstreams—commercial, technical, ESG, and funding—designed to converge on a real FID, not just a “bankable” buzzword. Connie also highlights technologies that she is excited about and why strategically locating projects that align technology and feedstock is so vital. We also discuss the benefits of vertically integrating facilities, the requirements of ecosystem alignment are important to acceleration, and the need to address fragmented registries for transparent emissions reporting. We end by finding out where the exciting regions are for Clive and Connie (spoiler alert - there are a lot of them!) and what makes them so exciting. If you enjoyed this you can hear more from FGE NexantECA as Clive will be speaking at SAF Investor London, running on the 24th-25th February. He will be joining our panel looking at balancing regional and global development. We will also be joined by Clive's Colleague Mais Haddadin who will be moderating a panel on Governments crowding in capital with speakers from Austrade, Green Finance Institute, UK Export Finance and UK National Wealth Fund. Both should be fantastic discussions so, if you enjoyed the podcast join us in London. To find out more click here: https://www.safinvestor.com/event/148588/saf-investor-london-2026-2/
Dana Shoukroun, Invest Through Flying - Wearing lab coats and enabling nuclear
This week Dana Shoukroun, Invest Through Flying is our guest on The SAF Podcast. The conversation is a wide ranging one covering the cost of compliance, why purchasing SAF now will pay dividends in the future and how growing SAF has to go beyond what is dictated by EU Mandates. We also find out which scientists need lab coats. We move onto the potential of nuclear as an energy source for synthetic SAF production. Dana explains the exciting potential and we discuss the obvious challenges it faces in terms of regulation and public opinion. We finish this episode with some Any Other Business looking at what in the industry current is getting Dana's goat and what she is excited about. Hope you enjoy and if you want to hear more from Dana you can at SAF Investor London on the 24th-25th February, find out more here: https://www.safinvestor.com/event/148588/saf-investor-london-2026-2/
Producer's note
Steal the structure. Not the show.
Keep the useful structure, then change the audience, point of view, and voice until the idea is unmistakably yours.
