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May 7, 2021 — Good news for alternative fuels has recently been announced in Washington State. First, the state legislature passed HB 1091, which will put into law low-carbon fuel standards (LCFS) in the state. The goal of this measure is to improve the air quality by reducing carbon intensity from transportation fuels. HB 1091 is expected to become law next year, and is anticipated to eliminate 80% of carbon emissions from traditional fuels in the transportation industry. The bill also promises to offer more sustainable aviation fuel (SAF) that will be produced by Northwest Advanced Bio-Fuels (NWABF).
NWABF has made strides towards securing a long-term investment into its SAF project in Washington State. NWABF, a renewable bio-jet fuel refineries developer, has announced a Memorandum of Understanding with Stonepeak Infrastructure Partners, an independent investment firm that specialized in North American infrastructure. This $600 million investment, once finalized, will help fund the largest SAF project using cellulosic feedstock to-date increasing SAF supply by 60 million gallons of per year as airlines are committing to achieving net-zero carbon emissions in the coming years.
More information on Washington State’s HB 1091 can be found here and more information on NWABF’s announcement is here.
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