Indian Oil Signs MOU With LanzaJet on Sustainable Aviation Fuel

BENGALURU, India, Feb. 8, 2023 — Indian Oil Corporation Ltd. (IndianOil), India’s leading Energy major today entered into a memorandum of understanding (MOU) with LanzaJet, a leading sustainable fuels technology company and sustainable fuels producer to explore the development of sustainable aviation fuel (SAF) production in India. This partnership will strengthen India’s transition to cleaner fuels and help achieve the country’s carbon reduction goal. The agreement was signed by Mr. Santanu Gupta, Executive Director (Alternate Energy & Sustainable Development) and Mr. Jimmy Samartzis, CEO LanzaJet during India Energy Week in Bengaluru, India in presence of Shri Hardeep Singh Puri, Honorable Minister P&NG and H&UA, Shri Shrikant Madhav Vaidya, Chairman, IndianOil and senior officials from IndianOil and LanzaJet.

During the MoU signing ceremony, Chairman, IndianOil said, “IndianOil is the leader in India’s aviation fuel segment and as we move forward on the path to achieve net-zero operational emissions by 2046, we aim to enhance our basket of lower carbon fuels and this partnership will be another step in this direction which would accelerate India’s commitment to become Net Zero by 2070. Creating an ecosystem of SAF in India will help accelerate the energy transition and this would ensure our leadership position in the sustainable fuel segment as well”.

IndianOil is India’s flagship national oil company working in across the hydrocarbon value chain, i.e., refining, pipeline transportation, production of crude oil and gas, gas marketing, and alternative energy sources. As a rapidly developing country, India’s energy transition will play a pivotal role in global energy markets. IndianOil is adopting mitigation efforts such as sustainable fuel alternatives to further advance the country’s ambitious clean energy goals.

LanzaJet is a leading sustainable fuels technology company dedicated to accelerating the energy transition by embracing the circular economy.

“As one of the largest population centers in the world experiencing rapid growth of energy consumption and travel, India is a critically important market as our world grapples with energy security, climate change, and economic growth challenges,” said Jimmy Samartzis, LanzaJet CEO. “Our partnership with Indian Oil Corporation is key to decarbonizing the aviation industry by enabling this region of the world to have increased access to sustainable fuel alternatives through our alcohol-to-jet technology using Indian waste and ethanol sources.”

The MOU between LanzaJet and IndianOil establishes a partnership to pursue large capacity SAF production in India using LanzaJet’s leading and proven Alcohol-to-Jet (ATJ) technology. The partnership will allow increased access and adoption of sustainable fuels in India by activating new technology to expand emission mitigation efforts. LanzaJet and IndianOil are working towards strategically expanding the partnership with a Joint Venture (JV) in India to deploy the LanzaJet ATJ technology.

LanzaJet Commends Governor Pritzker and Illinois Legislators on the Passage and Signing of the Sustainable Aviation Fuel Purchase Credit

New Purchase Credit Will Expand SAF Adoption and Deployment in Illinois

Chicago, IL, February 6, 2023 — LanzaJet, a leading sustainable fuels technology company and sustainable fuels producer, applauds the passage of and today’s subsequent signing by Governor JB Pritzker of Senate Bill 2951, the Invest in Illinois Act, which includes a sustainable aviation fuel (SAF) purchase credit and will position Illinois at the forefront of sustainable aviation fuel production and use.

“The passage of the Sustainable Aviation Fuel Purchase Credit positions Illinois as a leader in the energy transition,” said LanzaJet CEO Jimmy Samartzis. “These types of incentives accelerate the development of this new industry as we work hard to decarbonize the transportation sector. LanzaJet is excited to play a role in bringing SAF to new consumers across Illinois, and we encourage other states to support the sustainable fuels industry with similar measures and help meet the nation’s climate change goals.”

The legislation creates a $1.50/gallon tax credit for SAF sold to or used by an aircraft in Illinois until January 1, 2033. To qualify for the credit, the fuel must have at least a 50% lifecycle reduction in carbon emissions. The credit applies to any SAF used in Illinois but is not exclusive to SAF produced in Illinois.

Illinois requires that all credits for SAF used before June 1, 2028, must be derived from biomass resources, waste streams, renewable energy sources, or gaseous carbon oxides.

The Sustainable Aviation Fuel Purchase Credit comes just months after the passage of the Inflation Reduction Act (IRA) in August 2022 which includes a performance based SAF tax credit of up to $1.75/gallon for SAF to achieve a 100% lifecycle reduction.

This legislation is a significant milestone for the domestic sustainable fuels industry. Paired with the SAF incentives passed as part of the IRA legislation, sustainable fuel alternatives are more accessible now than ever before in the United States. LanzaJet continues to execute its plans to support the United States with up to 1 billion gallons of SAF developed using its technology by 2030.

LanzaJet is a leading sustainable fuels technology company dedicated to accelerating the energy transition by embracing the circular economy. As a Sustainable Aviation Fuel (SAF) technology provider and producer with patented alcohol-to-jet (ATJ) technology, LanzaJet is creating an opportunity for future generations by accelerating the deployment of SAF and other clean technologies critical to addressing the climate crisis and transforming the global economy. Further information is available at