New tech for SAF on the way: Honeywell International unveiled a new technology to manufacture lower-carbon aviation fuel from green hydrogen and CO2 captured from the aviation industry, according to a statement. The new technology will combine green hydrogen and carbon dioxide captured from industrial smokestacks to produce lower-carbon methanol, which can be turned into fuels, including sustainable aviation fuel (SAF). The new technology could help slash greenhouse gas emissions by 88% in comparison with conventional jet fuel, Honeywell said.

Customers are already lining up: Energy producer HIF global signed a commercial agreement for the production of eSAF, becoming the first customer to seek the new technology, according to the statement. It expects to deploy the technology at its second commercial-scale eFuels facility in the US which would recycle c. 2 mn tons of captured CO2 to produce c.11k barrels per day of eSAF by 2030.

REMEMBER- This is a perfect timing for this kind of tech: The EU agreed last month to set binding targets for the European aviation industry to boost its use of SAF in a bid to decarbonize the industry. The proposal aims to increase the use of SAF by ensuring fuel suppliers have 2% of the fuel accessible at EU airports as SAF in 2025, rising to 6% in 2030, 20% in 2035 and 70% in 2050. The EU carbon market is set to provide about EUR 2 bn to help airlines switch to SAF. Some 1.2% of fuels must also be synthetic fuels from 2030, rising to 35% in 2050. Aviation is a difficult sector to decarbonize and net zero aircrafts are not expected for another 10 years.

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Toyota Tshusho on the lookout for green hydrogen potential in the region: Japan’s Toyota Tsusho Corp plans to discuss the possibility of investing in green hydrogen in MENA and Africa with the African Development Bank (AfDB), according to a statement. Executive VP Toshimitsu Imai said that his company is conducting studies for possible projects in South Africa, Kenya, and Egypt. Imai made the statements during a visit by an AfDB delegation to Japan to present investment opportunities in Africa.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

• British renewables developer Octopus Energy Group will manage Masdar’s UK-based BESS facilities using its Kraken energy technology platform. (The National)
• Emirates Development Bank will add renewables to the sectors covered in its five-year plan to fund SMEs and large companies. (Zawya)
• PIF-backed EV maker Lucid Group has revised its annual production plan and will manufacture “over 1k” of its luxury EV sedans, down from a previous production plan forecast of up to 14k. (Bloomberg)