APG to invest up to €250 million in SAF developer SkyNRG
SkyNRG is a Dutch frontrunner in the SAF industry, founded in 2009 by KLM Royal Dutch Airlines and others.
An aerial view of Project SkyKraft for the production of SAF in Sweden. Photo Credit: SkyNRG
APG, on behalf of its pension fund client ABP, is investing up to €250 million in SkyNRG to enable the development and adoption of sustainable aviation fuel (SAF) worldwide.
The funding will support the continued growth of SkyNRG’s platform, which includes a portfolio of capacity development projects, R&D activities, advisory services and a range of commercial innovative customer programmes, says an official release.
"As part of an investment round of up to €300 million, this investment allows SkyNRG to move forward with its plans to develop and construct SAF production facilities in Delfzijl, the Netherlands, as well as in Sweden (Project SkyKraft) and the United States (Project Wigeon)."
SkyNRG is a Dutch frontrunner in the SAF industry, founded in 2009, by amongst others, KLM Royal Dutch Airlines, and is headquartered in Amsterdam, the release added. "SkyNRG’s platform for SAF aligns with APG and its pension fund client ABP’s path to significantly reduce carbon emissions worldwide and support innovative solutions for the energy transition within the Netherlands."
Maarten van Dijk, CEO and Co-founder, SkyNRG says: "APG joining SkyNRG is a major step forward for SkyNRG, both in terms of our growth plans and ambition to become a SAF producer. The investment from APG, along with MAM’s existing equity commitment, will not only support SkyNRG as a company but also demonstrates that the SAF market is ready for facilities dedicated solely to the production of SAF. By bringing together actors from across the industry including OEMs, technology providers, corporates and airlines, we are helping pave the way for global sustainable aviation fuel adoption."
Martin van der Pot, Head of Private Investments, ABP adds: "SkyNRG represents ABP’s first investment in the SAF sector, which is closely aligned with our ambition to create impact by investing at the forefront in energy transition assets that meet our investment criteria. This investment underscores our commitment to supporting innovative solutions that drive the decarbonisation of the infrastructure industry. As a long-term investor, this investment fits well with ABP’s strategy to invest in companies that seek both financial and social returns. This investment further shapes our investment mix, which aims to provide our members with purchasing power and a stable pension."
APG manages approximately €616 billion (December 2024) in pension assets, the release added.
