Episode 20 | Catalyzing SAF and Navigating the Future of Clean Aviation
Episode 20 | Catalyzing SAF and Navigating the Future of Clean Aviation
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In this episode of the Catalyst podcast series, Smart Freight Centre CEO Christoph Wolff sits down with Theye Veen, Chief Commercial Officer and Co-Founder of SkyNRG, to explore the dynamic and rapidly evolving landscape of Sustainable Aviation Fuel (SAF). With a 15-year journey at the forefront of SAF development, SkyNRG has grown from a visionary startup to a key player in the aviation decarbonization movement.
From Vision to First-Mover
From Vision to First-Mover
Founded in 2010 in partnership with KLM, SkyNRG began long before “SAF” became a mainstream term. At that time, biojet fuels were experimental, and the aviation sector had little regulatory or financial incentive to decarbonize. Yet, SkyNRG saw the future early on—pioneering initial flights using SAF and helping to demonstrate that sustainable aviation was possible.
Theye reflected on a critical turning point in 2015, when the company shifted from market-making and storytelling to the bold decision of developing its own production facility. Backed by a 15-year offtake agreement with KLM in 2019, SkyNRG secured bankability and laid the foundation for serious growth, including attracting infrastructure capital and expanding to over 100 employees.
The Valley of Death: Financing Challenges Despite Regulation
Despite strong mandates, such as the EU’s ReFuelEU Aviation regulation and the upcoming 2% SAF target in 2025, Theye expressed concern over the continued hesitation from investors and industry players. He noted that oil majors remain largely on the sidelines, often prioritizing traditional, higher-margin businesses over SAF investments.
The industry, particularly for e-SAF (electro-fuels), is still navigating the “valley of death”—where high development costs and uncertain returns deter investment. Developers face the challenge of securing tens of millions in high-risk, upfront capital just to reach a final investment decision (FID).
Corporate Commitment and STIP: Unlocking Momentum
Voluntary commitments from corporates play a vital role in pushing the SAF industry forward, especially in the early development stages. SkyNRG’s experience shows that long-term offtake agreements from companies—banks, airlines, and other corporates—can build confidence among investors and help projects move forward.
New initiatives like the EU’s Sustainable Transport Investment Plan (STIP) offer hope by providing financial support and mechanisms like double-sided auctions to de-risk first-of-their-kind projects.
A Call to Action
As Europe and other regions set SAF mandates, Theye emphasized the importance of follow-through—not just from regulators but from all stakeholders in the aviation value chain.
“Let’s keep up our promises and work hard. Take that extra risk. Commit long-term,” Theye urged, pointing out that real progress depends on bold, collective action—from airlines, fuel producers, investors, and corporate customers alike.
This conversation shines a light on the hard-earned progress of SAF pioneers like SkyNRG, while highlighting the critical need for continued support, policy stability, and collaborative risk-taking to accelerate the transition to net-zero aviation.
Listen to the full episode and enroll in the courses below to learn more.
Listen to the full episode and enroll in the courses below to learn more.