Airbus and Qantas are likely to close a deal making the first Sustainable Aviation Fuel (SAF) investment. The announcement was made by Stephen Forshaw, Airbus’ chief representative for Australia, New Zealand and the Pacific. While speaking to reporters in Australia, Forshaw revealed that the two companies were meeting weekly to discuss million-dollar investments in early-stage SAF projects in Australia.
The money will come from a mutual US$200 million fund to develop the country's SAF industry.
Forshaw stated, as quoted by Reuters: “The first investment has been made but not fully closed yet. We have both agreed to it, and I think we will make some announcements probably in the next month or so around the completion of that.”
The fund was set up in 2022, when Qantas announced its goal of having 10% of fuel come from SAF by 2030. Furthermore, the airline is looking to up that to 60% by 2050 in order to reach its net-zero targets.
The announcement is expected during the Australia International Airshow.
The joint investments will go to early-stage Australian startups within SAF. Mostly, they involve seed funding, and Airbus airline partners might take a minority equity stake.
"Some of them may be even earlier than Series A. What it may do is provide us with the opportunity or right of first refusal to go in at Series A or Series B or beyond. And then the pace will determine whether we want to do that or whether we see it is time to open it up to other investors." Forshaw added.