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Biojet Fuels Key to Aviation Emission Cuts, Report SaysBiojet fuels will be key to achieving the aviation industry’s pledge to cut CO2 emissions to 0.2 billion tons (GT) in 2050 — half the 2005 figure — as opposed to the 2.1 GT projected by current growth rates, according to Lux Research. Biojet fuel innovations, led globally by Honeywell UOP and Boeing, will account for 56 percent of the targeted CO2 emissions reductions, while a third of the cuts will come from new aircraft technology, and optimization of operations and infrastructure, the report says. “In the estimated $300 billion jet fuel market in 2050, Neste and Honeywell UOP will be winners over the short term, while renewable diesel producers UPM and Renewable Energy Group will be mid-term winners, and companies like Ensyn and Licella, will be long-term winners,” said Yuan-Sheng Yu, Lux Research Analyst and lead author of the report, Biojet Fuel Technology Roadmap. The first-ever global emissions standard for commercial aircraft is expected to be approved later this year by the United Nation’s aviation body, the International Civil Aviation Organization. Lux Research analysts studied the biojet fuel landscape against 2050 targets for CO2 emissions, and evaluated the main companies involved in the development of novel fuel types. Among their findings:
The biojet fuel report follows an earlier report by Lux Research that says big oil’s dominance in the transportation fuel market — jet fuels, diesel and gasoline — is coming to an end under threat from alternative fuels and battery technologies.
By: Jessica Lyons
Hardcastle
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