New Delhi: Indian Oil Corporation Limited (IOCL) on Thursday said that it has signed a Letter of Intent (LoI) with Akasa Air to explore the future supply of Sustainable Aviation Fuel (SAF).
The LoI proposes to establish a framework for collaboration between the two companies to support the airline’s sustainability goals through the potential supply of SAF, Indian Oil said in an official statement.
SAF is a critical pathway for reducing lifecycle greenhouse gas emissions from air travel and is expected to play a key role in the aviation sector’s transition towards net-zero emissions.
“This LoI reflects our commitment to scaling low-carbon fuels and supporting our customers in their energy transition. By leveraging our expertise across fuel production, supply, and logistics, we aim to play a meaningful role in enabling an early transition to the usage of SAF,” said Indian Oil's Country Head (Aviation Business) Shailesh Dhar.
Pursuant to the LoI, the companies will work towards evaluating potential SAF supply volumes, delivery locations, and timelines, as well as the use of approved sustainable feedstocks and production pathways.
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