RCS - Wizz Air Holdings - WIZZ INVESTS IN SUSTAINABLE AVIATION FUEL PRODUCER

Wizz Air HoldingsAnnouncement

24/04/2023 10:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230424:nRSX2135Xa&default-theme=true

RNS Number : 2135X  Wizz Air Holdings PLC  24 April 2023

 

WIZZ AIR INVESTS £5M IN SUSTAINABLE AVIATION FUEL PRODUCER FIREFLY

·    First equity investment in biofuel company will allow Wizz Air to
supply sustainable aviation fuel (SAF) to its UK operations from 2028

·    The £5m investment will support the development and certification of
SAF produced from sewage sludge

·    Partnership with Firefly has the potential to save 1.5m tonnes of
CO2-eq1

 

24 April 2023: Wizz Air (https://wizzair.com/en-gb) , Europe's fastest growing
and most environmentally sustainable airline globally(2), today announces a
£5 million investment in a biofuel company, Firefly (https://flyfirefly.uk/)
. This is Wizz Air's first equity investment in sustainable aviation fuel
(SAF) research and development. The partnership with Firefly will allow the
airline to supply SAF to its UK operations from 2028, up to 525,000 tonnes
over 15 years. The agreement has the potential to save 1.5 million tonnes of
CO2-eq.

Firefly specialises in a process, which converts sewage sludge, a low-value
waste product available in large quantities, into SAF. More than 57 million
tonnes of sewage sludge are produced in the UK each year, with the potential
to produce 250,000 tonnes of SAF.

Firefly's SAF, which will be independently certified against the leading
sustainability standard RSB, is projected to deliver a 90% reduction in
greenhouse gas emissions compared to fossil jet fuel on a life cycle basis(3)
Firefly aims to have its first commercial plant operating within the next 5
years(4).

The agreement with Firefly and investment in new SAF technology represents the
latest milestone in Wizz Air's broader sustainability strategy, including its
ambitious fleet renewal plan and already efficient low-cost operations with
the latest technology aircraft and high seat density and load factors. This
will further strengthen Wizz Air's position as an industry leader in
sustainability and drive its commitment to reducing its carbon emissions per
passenger/km by 25% by 2030.

In 2022, Wizz Air achieved its lowest-ever annual carbon intensity which
amounted to 55.2 grams per passenger/km, representing a 15% reduction
year-on-year. To achieve this, the airline has invested heavily in its fleet
by adding new and replacing older aircraft with the Airbus A321neo aircraft.
The Airbus A321neo aircraft incorporates the latest technology, offering
significant environmental benefits and can currently fly with up to 50% SAF
blend. The share of the new "neo" technology Airbus A320 family aircraft has
already surpassed 50% of Wizz Air's fleet. In addition to its ambitious fleet
renewal programme, Wizz Air is constantly working on fuel efficiency
initiatives and improving its data analytics.

Michael Berlouis, Head of Strategic Projects at Wizz Air, said: "In addition
to fleet renewal and operational efficiency, SAF is crucial for reducing
carbon emissions from aviation. However, feedstock availability remains the
key challenge for the industry. Our investment in Firefly and its sewage
sludge SAF technology is a major step forward for Wizz Air in securing its
long-term ability to provide low-cost fares to its customers in an ever more
environmentally sustainable way. From 2028, we are aiming to procure 525,000
tonnes of SAF from Firefly over a period of 15 years. This has the potential
to reduce our emissions by 100,000 tonnes CO2-eq per year, which is equal to
the emissions of over 12,000 return Wizz Air flights between London and
Budapest".

James Hygate, CEO of Firefly Green Fuels, said: "We are thrilled to be
establishing a partnership with Wizz Air. The investment will accelerate the
commercialisation of our game-changing Firefly process, with the binding
offtake agreement saving a staggering 1.5m tonnes of carbon emissions. Firefly
will facilitate a step change towards the future of air travel. The feedstock,
sewage sludge, is available in vast quantities globally and with Firefly we
can put it to a truly beneficial use, reducing the use of fossil fuels in the
hardest to decarbonise areas."

(1)The saving is based on the IATA carbon emission factor, where 1kg of Jet
fuel translates into 3.16 kg of CO2.

2 According to the CAPA - Centre for Aviation Awards for Excellence 2022

3 Based on independent calculations by Cranfield University

4SAF must be blended with conventional jet fuel to meet regulatory
requirements for use within the aircraft.

- END -

 

About Wizz Air

Wizz Air, the fastest growing European ultra-low-cost airline, operates a
fleet of 180 Airbus A320 and A321 aircraft. A team of dedicated aviation
professionals delivers superior service and very low fares, making Wizz Air
the preferred choice of 27.1 million passengers in the Financial Year F22
ending 31 March 2022. Wizz Air is listed on the London Stock Exchange under
the ticker WIZZ. The company was recently named one of the world's top ten
safest airlines by airlineratings.com, the world's only safety and product
rating agency, and Airline of the Year by Air Transport World in 2020, as well
as Airline of the Year by Air Transport Awards in 2019 and 2023. Wizz Air has
also been recognised as the "Most Sustainable Low-Cost Airline" within the
World Finance Sustainability Awards 2022 and the "Global Environmental
Sustainability Airline Group of the Year" by the CAPA-Centre for Aviation
Awards for Excellence 2022.

 

About Firefly

 

Firefly's (https://flyfirefly.uk/) technology originated in the laboratories
of Green Fuels, a pioneer in renewable fuels founded in 2003 and awarded a
Royal Warrant of Appointment to the former HRH The Prince of Wales, now King
Charles III, in 2013. Firefly demonstrates an integrated technology route to
SAF using sewage sludge as feedstock, addressing a market opportunity and
unmet need. This route, once qualified to international standards, will sit
alongside other development pathways and will be a strategic asset for the UK
within its national SAF portfolio. The project encompasses engineering design
and construction of a demonstrator plant, capable of generating the quantities
of fuel to allow qualification. This in turn will lead to a first-of-a-kind
commercial refinery and roll-out to several UK locations where airports,
pipeline terminals and wastewater treatment works are in close proximity.

 

For more information:

 

Wizz Air:

Daria Sergeeva, Sustainability Communications Manager:
daria.sergeeva@wizzair.com (mailto:daria.sergeeva@wizzair.com)

Follow us on Instagram: @wizzair (https://www.instagram.com/wizzair)
(https://www.instagram.com/wizzair)

Follow us on Facebook: @wizzair (https://www.facebook.com/wizzair)

Follow us on Twitter: @wizzair (https://twitter.com/wizzair)

 

Firefly:

Emma Harvey: emma@flyfirefly.uk (mailto:emma@flyfirefly.uk)

www.flyfirefly.uk (http://www.flyfirefly.uk)

 

Notes for Editors:

●     All Wizz Air flights are operated on Airbus A320 aircraft with 180
seats, Airbus A320neo with 186 seats, A321 aircraft with 230 seats and Airbus
A321neo aircraft with 239 seats.

●     For free pictures of aircraft, crews and logo library please visit
http://wizzair.com/en-GB/press (http://wizzair.com/en-GB/press)

●     For more information about Wizz Air's sustainability strategy
please see F23 Half-Year ESG Update
(https://wizzair.com/static/docs/default-source/downloadable-documents/sustainability/f23-half-year-esg-update_light_0afbac90.pdf)
 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAMZGZDRDGGFZG