Yokogawa Joins Avelia’s Blockchain-Powered Sustainable Aviation Fuel Purchasing Program
Yokogawa Electric Corporation, the leading industrial automation company based in Asia, has recently become the first industrial automation customer in the region to join Avelia. Avelia is a blockchain book-and-claim platform for sustainable aviation fuel (SAF) that aims to increase the supply and demand for SAF to support the aviation industry’s progress towards achieving net-zero emissions.
Developed by Shell and Accenture with the support of the Energy Web Foundation and American Express Global Business Travel (Amex GBT), Avelia was launched in June 2022. The platform utilizes blockchain technology to provide a transparent tracking system for the environmental attributes of SAF delivered into the aviation fueling network. This enables the allocation of these attributes to both airlines and business customers, eliminating issues such as double counting.
SAF is considered the most promising pathway for decarbonizing air travel, as it can reduce lifecycle carbon emissions by up to 80% compared to traditional fossil-based fuels. By joining Avelia, Yokogawa aims to contribute to the swift adoption of SAF and the reduction of CO2 emissions, thereby striving towards achieving net-zero emissions.
Jan Toschka, President of Shell Aviation, expressed his delight at welcoming Yokogawa as Avelia’s first industrial automation customer headquartered in Asia. He emphasized the importance of collaboration within the aviation value chain to increase the supply and use of SAF, and how Avelia facilitates this transition.
Yokogawa’s Senior Vice President and Head of the Energy & Sustainability Business Headquarters and Global Sales Headquarters, Koji Nakaoka, stated that through initiatives like joining Avelia, Yokogawa is committed to achieving net-zero emissions and supporting the adoption of SAF.
Avelia, with its blockchain-based system, offers a significant step forward in the quest for sustainable aviation fuel. Clear and transparent tracking of SAF’s environmental attributes enables better collaboration and coordination among stakeholders, ultimately leading to the reduction of carbon emissions in the aviation industry.
This partnership between Yokogawa and Avelia demonstrates the commitment of industry leaders to address the urgent need for sustainable solutions in the aviation sector. By working together, businesses can achieve substantial progress in reducing the industry’s environmental impact and pave the way for a more sustainable future.
For more information on Avelia and its initiatives, please visit their website at https://aveliasolutions.com/.
– Avelia: https://aveliasolutions.com/
– IATA Sustainable Aviation Fuels: https://www.iata.org/en/programs/environment/sustainable-aviation-fuels/
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