Wizz Air awarded for decarbonisation efforts following investment in sustainable aviation fuel technology

image credit: Wizz Air

Wizz Air has been awarded ‘Strategic Investment of The Year – Europe’ at the 2023 SAF Investor Awards in London.

The SAF Investor Awards recognises industry leaders taking steps to decarbonise aviation with significant transactions helping to move the industry forward.

Wizz Air received recognition for its £5 million equity investment in Firefly, an UK-based biofuel company, to support research and development into viable options for sustainable aviation fuel (SAF) production.

Firefly specialises in a unique process which converts sewage sludge, a low-value waste product available in large quantities, into SAF.

Yvonne Moynihan Corporate and ESG Officer at Wizz Air, said: “We are thrilled to receive the SAF Investor Award for our first equity investment in Firefly, a sustainable aviation fuel producer.

“The aviation industry faces a major challenge in securing enough SAF, and we are committed to supporting innovative technologies like Firefly’s that can benefit the industry in long-term.

“Sewage sludge is an important feedstock as it is abundant and cheap, which is important for our ultra-low-cost model.

“We are proud to be an industry innovator in this field with the ambition to set the standard for other airlines for advancing the future of aviation.”

James Hygate, CEO of Firefly Green Fuels, said: “All of us at Firefly are thrilled to see our partners Wizz Air win the SAF Investor Award today.

“Wizz Air saw the potential in Firefly very early on, and we are proud to have the backing of the world’s leading airline in sustainability and emissions intensity reduction.”