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Tuesday, 13 June 2023

Amadeus Acquires Stake in Future Producer of Synthesis Gas

(13/06/23)  Amadeus has acquired a minority stake in Caphenia, a German-based company and future producer of synthesis gas - the feedstock of sustainable aviation fuel (SAF).

The investment will offer Amadeus enhanced visibility into the challenges of the SAF sector, allowing it to further explore the role the company can play in this key element of the aviation industry’s journey to net zero by 2050.

Caphenia, currently in an advanced stage of development, has established an innovative approach to producing synthesis gas from a mixture of biogas, CO2, water and electricity.

The gas can be used to produce a variety of renewable fuels, with up to a 92 per cent reduction of CO2 emissions compared to the fossil reference value.

Refueling at London Heathrow (LHR). Picture by Steven Howard of TravelNewsAsia.com Click to enlarge.
Refueling at London Heathrow (LHR). Picture by Steven Howard of TravelNewsAsia.com

The company has secured patent protection for its Power-and-Biogas-to-Liquid (PBtL) process in all relevant core markets worldwide, with a total of 203 granted patents.

“Our process is affordable – using one sixth of the electricity needed for alternative SAF production methods – and scalable. We have an ambition to offer large scale production by 2028, aiming to fill the gap between anticipated SAF demand and current supply,” said Dr. Mark Misselhorn, Chief Executive of Caphenia. “For airlines, sustainable aviation fuel is the practical long-term alternative to conventional aviation fuel. The technology of cost-effective, producible SAF means the greatest potential for CO2 savings and an important element that, in combination with others, may help in meeting net zero targets.”

According to the IATA Net Zero Emission initiative, SAF has the potential to account for 65 per cent of the reduction in greenhouse gas (GHG) emissions required for the aviation industry to reach net zero by 2050.

New technology is also a key component in contributing to the journey ahead, including electric and hydrogen powered aircraft (13 per cent), carbon offset and capture (19 per cent) and operational efficiencies (three per cent).

To reach the 65 per cent reduction in GHG emissions, production capacity of 449 billion liters annually is estimated as needed globally. To provide perspective, SAF production in 2021 stood at just 125 million liters – or less than 0.1 per cent of the required estimated production capacity.

Caphenia has plans to commence production next year and is forecasting to produce 10 million liters of SAF by 2027, planning to increase to over 100 million liters by 2030 and over one billion liters before 2035.

“At Amadeus, we are committed to supporting the move to sustainable travel,” said Suzanna Chiu, Head of Ventures, Amadeus. “We monitor industry trends and developments to determine the most effective ways we can fulfill this ambition and are delighted to act today with the investment in an innovative SAF company. The transaction represents a step forward in our sustainability strategy, taking the perspective from a different part of the value chain in the industry. As the industry moves toward its goal of reaching net zero by 2050, we are taking concrete steps to accelerate the process.”

Details of the minority stake and related financials have not been disclosed.

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