Australia’s Macquarie Asset Management is making an initial investment of 175 million euros (US$190 million) in Dutch green aviation fuel company SkyNRG.
The investment, which is being made through its GIG energy transition solutions fund, is overseen by Macquarie’s green investment team, the company says in a statement on November 16.
This is the Australian asset manager’s first investment in sustainable aviation fuel.
The statement says SkyNRG has secured long-term fuel purchase commitments of up to 4 billion euros from KLM Royal Dutch Airlines and Boeing. The firm aims to build dedicated fuel production facilities in Europe and the US by 2030.
According to Mark Dooley, Macquarie’s global head of green investments, SkyNRG has been a pioneer in sustainable aviation fuel.
“We look forward to collaborating with the SkyNRG team as they grow their business and advance solutions to decarbonise the aviation industry,” he says.
Sydney-based Macquarie Asset Management had around A$892 billion ($575.75 billion) of assets under management as of September 2023.