HydrogenPro's partner, DG Fuels, signs Offtake Agreement with Air France-KLM

Rhea-AI Summary

DG Fuels has secured a 10-year Of-take Agreement with Air France-KLM to supply 210 million gallons of Sustainable Aviation Fuel (SAF) starting in 2026. HydrogenPro will provide green hydrogen technology for DG Fuels' production facility in Louisiana, with a capacity of at least 839 MW. This agreement is projected to reduce Air France-KLM's emissions by 4.7 billion kilograms of CO₂ over the decade. SAF offers an 80% reduction in emissions relative to conventional fuels, supporting decarbonization efforts in aviation.

Positive

• Secured a 10-year Of-take Agreement with Air France-KLM for 210 million gallons of SAF.
• Projected reduction of 4.7 billion kilograms of CO₂ emissions over 10 years.
• HydrogenPro supplying green hydrogen technology for DG Fuels' production plant.

Negative

• None.

PORSGRUNN, Norway, Oct. 26, 2022 /PRNewswire/ -- Reference is made to the recent press releases from DG Fuels and Air France-KLM regarding an Offtake Agreement between DG Fuels and Air France-KLM. DG Fuels will supply Air France-KLM with 210 million gallons of Sustainable Aviation Fuel. The agreement will last for a minimum of 10 years, with first delivery expected in 2026. HydrogenPro will supply its green hydrogen technology with a capacity of at least 839 MW for DG Fuels' initial production plant in Louisiana, USA.

On a 10-year basis, Air France-KLM emissions is expected to be reduced by 4.7 billion kilograms of CO₂ compared with use of fossil fuels.

"This offtake agreement is yet another important milestone for DG Fuels, and of equal importance to HydrogenPro as technology supplier. We are proud to play an active role globally in decarbonising the future," says Richard Espeseth, interim CEO and founder of HydrogenPro.

Decarbonisation is the biggest challenge facing the aviation industry and gaining a first-mover advantage in the use of Sustainable Aviation Fuel (SAF) is critical to reducing emissions and take part in the incumbent decarbonisation due to happen.

The use of SAF can reduce emissions by an average of 80% compared to conventional fuel and is considered more energy efficient. Hence, it provides airlines with operational advantages in addition to its environmental contributions. This Offtake Agreement adds to the slate of recent SAF contract volumes represents over 90% of total production volumes at DG Fuels Louisiana.

HydrogenPro is proud to play a vital role in supplying DG Fuels with its green hydrogen technology.

About HydrogenPro:

HydrogenPro is a technology company and an OEM for high pressure alkaline electrolyser and supplies large scale green hydrogen plants, all ISO 9001, ISO 45001 and ISO 14001 certified. The Company was founded in 2013 by individuals with background from the electrolysis industry which was established in Telemark, Norway by Norsk Hydro in 1927. We are an experienced engineering team of leading industry experts, drawing upon unparalleled experience and expertise in the hydrogen and renewable energy industry.

Contact:

Martin Holtet
CFO, HydrogenPro
Tel +47 922 44 902

View original content:https://www.prnewswire.com/news-releases/hydrogenpros-partner-dg-fuels-signs-offtake-agreement-with-air-france-klm-301659487.html

SOURCE HydrogenPro AS

FAQ

What is the Of-take Agreement signed by DG Fuels and Air France-KLM?

DG Fuels signed a 10-year Of-take Agreement to supply 210 million gallons of Sustainable Aviation Fuel to Air France-KLM, starting in 2026.

How much CO₂ will the Air France-KLM agreement reduce?

The agreement is expected to reduce Air France-KLM's emissions by 4.7 billion kilograms of CO₂ over the 10-year period.

What technology is HydrogenPro providing to DG Fuels?

HydrogenPro is supplying green hydrogen technology with a capacity of at least 839 MW for DG Fuels' production plant in Louisiana.

What are the environmental benefits of Sustainable Aviation Fuel?

Sustainable Aviation Fuel can reduce emissions by an average of 80% compared to conventional fuels, making it more energy efficient and environmentally friendly.

What is the significance of this Of-take Agreement for HydrogenPro?

The agreement is a crucial milestone for HydrogenPro as it establishes its role as a technology supplier in the decarbonization of the aviation industry.