Mubadala Capital backed Acelen invests $3 billion in Brazil SAF
Acelen Renovaveis, backed by Abu Dhabi's Mubadala Capital, is investing $3 billion to turn macauba palm oil into sustainable aviation fuel (SAF) in Brazil.
They're planting these palms on 144,000 hectares of worn-out farmland in Minas Gerais, aiming for the first harvest by 2030.
The project could seriously ramp up global SAF production, which was just 41,000 barrels a day last year.
Acelen developing harvest tech for macauba
Macauba palms aren't just native to South America: they also produce way more oil per hectare than soybeans and can grow in tough, dry areas.
Acelen is working on new tech to handle the tricky harvesting process (these trees have thorns and only fruit once a year).
The oil will be processed at a biorefinery in Bahia that's set to make 20,000 barrels of SAF daily.
Project secures nearly 90% output contracts
Almost all the initial fuel has already secured long-term contracts for nearly 90% of its biorefinery production.
The project supports EU rules for cleaner jet fuel and matches the rules that airlines are required to start cutting emissions in 2027 under, which gradually increase reduction targets to 10% by 2037.
Mubadala Capital has longer-term plans for up to five biorefineries in Brazil.