DALLAS, November 10, 2021 / PRNewswire / – Southwest Airways Co. (NYSE: LUV) as we speak introduced a 15-year buy settlement with Velocys Renewables LLC (“Velocys”) for 219 million gallons of sustainable aviation gasoline (SAF). As Velocys introduced as we speak, as soon as blended with standard jet gasoline, the SAF might produce the equal of 575 million gallons of web zero fuel1 and keep away from 6.5 million tons of CO2 over the lifetime of the deal. Southwest® plans to buy SAF from Velocys Bayou Fuels’ facility in Natchez, Mississippi, as early as 2026. As well as, beneath the acquisition settlement, Southwest and Velocys have established a long-term strategic relationship that enables Southwest to amass vital quantities of SAF from future Velocys amenities.
“This settlement is a crucial step ahead in our technique for environmental sustainability and helps our aim of changing 10 p.c of our complete kerosene consumption with sustainable aviation gasoline by 2030,” stated Michael AuBuchon, Senior Director Gasoline Provide Chain Administration at Southwest Airways. “This new strategic relationship with Velocys might in the end give Southwest entry to vital extra quantities of sustainable aviation gasoline.”
“Our 15 yr off-take settlement with Southwest Airways will allow them to make use of the bottom CO2 depth sustainable aviation gasoline introduced thus far,” stated Henrik Wareborn, CEO of Velocys. “The SAF produced within the Bayou Fuels plant plans to make use of a sustainable uncooked materials (forest residues from plantation forests) and renewable electrical energy from a neighboring photo voltaic system, in addition to a contract for CO2 seize that may bind greater than 500,000 tons of carbon dioxide per yr. It’s also anticipated that the sulfur is decreased by greater than 99 p.c in comparison with standard aviation gasoline, which reduces the emissions of this standard pollutant. “
Southwest acknowledges the essential function that commercially viable SAF will play within the airline’s technique to be carbon impartial by 2050. Southwest is without doubt one of the most honored airways on this planet and strives to take care of an unwavering give attention to one triple backside line: folks, efficiency, and planet. Go to Southwestonereport.com to be taught extra about Southwest’s efforts for citizenship and the way the airline is giving again to communities world wide.
Velocys is an LSE-listed, worldwide expertise firm for sustainable fuels, traded on the AIM, and providing its clients a expertise resolution that permits the manufacturing of artificial drop-in fuels with unfavorable carbon depth from a wide range of waste supplies. SAF (“Sustainable Aviation Gasoline”) is the one commercially accessible, everlasting different to fossil aviation fuels.
The expertise is IP-protected in all main authorized methods.
Two reference tasks within the USA and Nice Britain (Bayou Fuels and Altalto) goal to speed up and standardize the introduction and standardization of the proprietary Fischer Tropsch (FT) expertise from Velocys and bioenergy with the CCS resolution BECCS. Velocys is investing in an improved skill to ship its expertise to clients to allow business SAF manufacturing in response to the obligatory gasoline change.
Velocys’ expertise path permits the following era of low carbon sustainable fuels with vital extra constructive results on air high quality.
Cautionary Observe Relating to Ahead-Trying Statements
This press launch accommodates forward-looking statements inside the which means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Trade Act of 1934, as amended. Particular forward-looking statements embrace, with out limitation, statements concerning (i) the plans and expectations of Southwest Airways Co. (the “Firm”) to buy sustainable aviation gasoline from Velocys Renewables LLC (“Velocys”); (ii) the corporate’s skill to mix sustainable aviation gasoline; (iii) Velocys’ manufacturing capabilities and plans for the event of future amenities; (iv) the corporate’s aim to exchange standard aviation gasoline with sustainable aviation gasoline; and (v) the anticipated environmental advantages of buying and utilizing sustainable aviation gasoline from Velocys. Ahead-looking statements contain dangers, uncertainties, assumptions and different components which might be troublesome to foretell and that might trigger precise outcomes to vary materially from these expressed or indicated therein. Components embrace, however are usually not restricted to, (i) the Firm’s reliance on different third events, notably with respect to the manufacturing, transportation, storage, mixing and distribution of sustainable aviation gasoline, and the impression on the Third Get together Firm’s targets and plans of celebration delays or non-performance; (ii) the impression of legislative and regulatory actions associated to sustainable aviation gasoline, notably with respect to tax credit and compliance necessities; (iii) the corporate’s skill to well timed and successfully implement and preserve the required processes to assist using sustainable aviation gasoline; (iv) the impression of financial situations, authorities actions, climate-related situations and climate occasions, gasoline costs, actions by rivals, sociodemographic traits, shopper perceptions and different components past the corporate’s management on the Firm’s enterprise plans and expectations, and targets; and (v) different components as described within the firm’s filings with the Securities and Trade Fee, together with the detailed components mentioned beneath the heading “Danger Components” within the Firm’s Annual Report on Type 10-Okay for the previous fiscal yr December 31, 2020, the corporate’s quarterly report on Type 10-Q for the previous fiscal quarter June 30, 2021, and the corporate’s quarterly report on Type 10-Q for the previous fiscal quarter September 30, 2021. Care must be taken to not place undue reliance on any forward-looking statements made by the corporate, which converse solely as of the date of this publication. The corporate assumes no obligation to publicly replace or revise any forward-looking statements, whether or not because of new info, future occasions or for some other purpose.
ABOUT SOUTHWEST AIRLINES CO.
Of their 51st yr of service, Dallas-based Southwest Airways Co. continues to face out from different airways with a customer support workers of roughly 54,000 for a buyer base of greater than 130 million passengers in 2019. Southwest has strong to level service with a robust presence in main leisure and enterprise markets. Throughout the peak journey season in 2019, Southwest operated greater than 4,000 weekday departures in a community of 101 locations in america and 10 different international locations. In 2020, the Hilo, Hawaii airline added a service; Cozumel, Mexico; Miami; Palm Springs, California; Steamship sources; and Montrose (Telluride), Colorado. Thus far, Southwest has opened connections to Chicago (O’Hare) and Sarasota / Bradenton in 2021, each open 14th of February; Savannah / Hilton Head and Colorado Springs each up March 11; Houston (Bush) and Santa Barbara, California, each on 12. April; Fresno, California a April 25; Destin / Fort Walton Seaside Might sixth; Myrtle Seaside, SC on 23. Might; Bozemann, Mont. An Might twenty seventh; Jackson, Miss. June 6; Eugene, Ore. on twenty ninth August; and Bellingham, Washington. At November seventh. The freight forwarder will begin the service to Syracuse on. take up 14th November.
The airline made its Southwest® promise in Might 2020 to spotlight new and 24/7 efforts to assist the well-being and luxury of its clients and workers. The modifications embrace elevated cleansing efforts at airports and on board plane, in addition to a federal mandate that stipulates that each particular person should put on a masks always throughout each flight. For extra particulars on the Southwest Promise, please go to Southwest.com/Promise.
Southwest coined Transfarency® to explain its philosophy of dealing actually and pretty with clients, the place low tariffs really keep low. Southwest is the one main U.S. airline that provides free baggage to all passengers (first and second checked baggage, measurement and weight restrictions apply, some airways provide free checked baggage on choose routes or beneath sure circumstances). Southwest doesn’t cost any change charges, nonetheless fare variations might apply.
Ebook Southwest Airways low fares on-line at Southwest.com or by calling 800-I-FLY-SWA®.
1 The online zero worth is set by a gasoline with a carbon depth of zero (0) gCO2e / MJ or much less on a life cycle foundation.
SOURCE Southwest Airways Co.