New Joint Agreement - Savion Aerospace Corp. and Kinetrex Energy
Savion Aerospace Corp. and Kinetrex Energy announce a joint agreement to create the world’s first carbon-negative air transport system. The agreement allows all operators of the liquified natural gas (LNG)-powered SavionJets to reserve renewable natural gas as a part of their aircraft orders up to 10 million gallons annually. At today’s prices, LNG is 50% less than jet fuel which represents a generational economic improvement in fuel cost when compared to the newest commercial aircraft.
“We are deeply impressed with Kinetrex’s renewable LNG solution and are thrilled to partner with them on what is a pioneering business model for supplying energy to aircraft operators. The unbeatable price of LNG offered by Kinetrex coupled with the upcoming LNG powered SavionJet should serve as an unmistakable signal to other LNG producers: it’s time to add aviation to your balance sheets. With the help of Kinetrex, the SavionJet will pioneer a new era of green personal air travel. Middle class consumers will no longer be relegated to crowded flying busses leaving from crowded commercial airports. Further, those who care about energy independence and those who want to mitigate climate change should also rejoice. This is the start of carbon negative aviation that is economically superior to the status quo.”
“We were impressed with Savion’s unique approach to disrupting the workhorse of the commercial aviation, the single aisle fleet, with its LNG-powered SavionJet. Our turnkey LNG solution is a critical piece of achieving the unit economics to make the SavionJet competitive and we are excited to grow our renewable LNG supply into this new market.”