E- Fuels

Q3 revenue rose >10% y/y and company remains on track for ~15–16% full‑year growth; Q3 net cash usage ≈ $28M with ≈ $134M cash on hand; margin improvement and an ~$8bn electrolyzer pipeline.

Several tonnes of synthetic Fischer‑Tropsch wax shipped to a U.S. developer for conversion into edible fats; produced from captured CO₂, green hydrogen and renewable electricity.

Preferred electrolyzer supplier for over 1 GW of e‑SAF projects; initial 280 MW GenEco will produce ~110 t/day renewable H2 for jet fuel at Port of Vordingborg; ENDOR moving to FID.

40,000 t/yr eSAF commitment for 10+ years from Project Endor in Denmark; deliveries planned from early 2030s; fuel claims up to 98% lifecycle emissions reduction and EU compliance.

Microchannel FT reactor rated up to 800 bpd (~30 kt/a) per unit, designed to reduce reactor count and support 100+ kt/a SAF and e‑fuel projects.

Upgrading unit to convert Fischer–Tropsch crude into certified drop-in e‑SAF at ERA ONE, integrating isomerization, hydrocracking and distillation for onsite industrial-scale production.

5.2 million ETS allowances (~€430m) to 130 airlines for 2025 SAF; combined ETS incentives ~€565m; >530,000 t SAF claimed; 1.7Mt CO2 abated.

Partners integrate low‑pressure modular hydrocracking with mesoporous zeolite catalysts to upgrade Fischer‑Tropsch waxes into drop‑in e‑fuels, cutting H2 use, energy demand and operating costs.

SAF from wood waste, 3,200 bpd initial capacity expandable 3×; final investment decision expected 2028 and operations targeted for 2031.

EU recognition lets power-to-liquid synthetic fuels qualify as RFNBO and count toward binding RED III sub-targets across transport, aviation and industry.