Willis Lease Finance Corporation (WLFC) announced an innovative project to develop and produce Power-to-Liquid (PtL) Sustainable Aviation Fuel (SAF).
Willis Lease, its subsidiary, Willis Sustainable Fuels (UK) Limited, along with financial and strategic partners, are advancing plans toward a new SAF refinery in northeastern England.
“Our pioneering PtL SAF project would directly support the global aviation industry’s ambitious goal of net-zero emissions by 2050, which represents a major, near-term step in the important effort to decarbonize aviation,” said Austin C. Willis, chief executive, WLFC. “As one of the first aviation leasing companies to spearhead a SAF initiative of this magnitude, we are thrilled to be continuing our legacy as a leader and innovator in aviation. The SAF project is one element of our broader strategy to contribute towards the decarbonization of aviation. WLFC has committed to and invested approximately $1.5BN in modern technology, lower fuel consumption engines over the past few years, and will continue to do so in support of this strategy.”
“Building on our valued relationship with Teesside International Airport, we’re excited to partner with local stakeholders to continue to advance our plans toward the first PtL SAF refinery in Teesside,” added Willis. The company’s initial focus in the UK is largely based on its existing relationship with Tees Valley, where WLFC has developed Willis Aviation Services Limited and Jet Centre by Willis at Teesside International Airport over the last 36 months.
The project aligns with and supports not only the Tees Valley Net Zero strategy but also the UK government’s Ten Point Plan, Build Back Greener, and Jet Zero strategies.