Lootah Biofuels seals deal for mass SAF production in Mena

Lootah Biofuels seals deal for mass SAF production in Mena

Lootah Biofuels, a pioneer in the circular economy that produces biofuels from used cooking oil (UCO), and FatHopes Energy, a Malaysian leader in developing sustainable fats, oils, and grease solutions for advanced biofuel production, have signed a MoU aimed at pioneering advancements in the production and distribution of sustainable aviation fuel (SAF) in the Mena and Southeast Asia region. The MoU delineates the collaborative roadmap that encompasses diverse initiatives and engagements towards SAF development through cutting-edge technologies and opportunities in setting a practical supply chain, said a statement . The agreement was signed by CEO Yousif bin Saeed Lootah and FatHopes Energy CEO Vinesh Sinha in the presence of Mariam AlMheiri, UAE Minister for Climate Change and Environment and Tuan Nik Nazmi Bin Nik Ahmad, Minister of Natural Resources, Environment and Climate Change of Malaysia on the sidelines of COP28. The global aviation sector has set itself the goal of becoming climate-neutral by 2050. It currently accounts for around 3% of the world’s carbon footprint, and this is likely to fall rapidly with the use of SAF, which promises to reduce carbon emissions by up to 80% and have the advantage over other alternative fuels of being drop-in fuels. The