The Canada Infrastructure Bank (CIB) and Azure Sustainable Fuels Corp. (Azure) are partnering on a front-end engineering and design (FEED) study for sustainable aviation fuel (SAF) production in Canada.
Azure’s study is now fully funded and on track to be completed in 2024, according to a news release.
The CIB’s $8.4m funding helps support Azure’s critical path of producing SAF by 2027, which could contribute materially to helping Canada on the path towards meeting its climate goal of net zero emissions by 2050.
The CIB investment provides support for Azure to leverage Canadian skillsets and maximize options by developing three potential Canadian sites in parallel. The company has been working closely with provincial, municipal, and Indigenous governments to adhere to all environmental regulations.
In a separate press release, Azure said that it has sought to maximize optionality by pursuing a multi-site strategy through developing three Canadian SAF-focused renewable fuels production facility sites in parallel. These potential sites are located in British Columbia, Manitoba and Ontario. The Company expects that all FEED work for each of the three sites will be complete by the end of 2024, positioning Azure to reach a Final Investment Decision in the first half of 2025 as to enable an in-service date in 2027.
