IAG Announces Major Investment in Nova Pangaea Technologies

International Airlines Group (IAG), the parent company of Aer Lingus, British Airways, Iberia, Vueling and LEVEL —has announced an investment into Nova Pangaea Technologies (NPT), an innovative UK-based cleantech company whose technology is a crucial pathway to the production of Sustainable Aviation Fuel (SAF).

NPT's innovative technology converts agricultural waste and wood residue feedstocks into second-generation bioethanol, which can then be processed into SAF.

IAG's investment will progress the development of 'NOVAONE', NPT's first waste-to-fuel commercial-scale production facility, and the UK's first of its kind. The project is in addition to IAG's investment programme in SAF, which at the end of 2022 amounted to $865 million in firm commitments on SAF purchases and investments.

A recent report from carbon calculates that North America will produce 36% of the world's SAF by 2030, with the SAF global market value reaching $29.7 billion, up from $1.1 billion last year. NPT is eyeing expansion in North America as the region will play an important role in delivering global supplies of SAF.

International Airlines Group (IAG) is one of the world's largest airline groups with 558 aircraft, directly connecting the UK to 334 destinations in 81 countries. Its leading airlines in Spain, the UK and Ireland include Aer Lingus, British Airways, Iberia, Vueling and LEVEL.

Nova Pangaea Technologies (NPT) is a cleantech company that has created a revolutionary process, converting wood residues and agricultural waste into advanced biofuels and other bio products, some of which are then used to produce Sustainable Aviation Fuel (SAF), a crucial tool in the effort to decarbonise flight.