Willis Lease Finance (WLFC) said Monday that its Willis Sustainable Fuels UK unit entered into license and engineering deals with Johnson Matthey and Axens to advance its sustainable aviation fuel project in Teesside, northeastern England.
Willis Sustainable Fuels expects to start commercial operations at its sustainable aviation fuel production facility in Q1 2028, with an anticipated production capacity of 14,000 tonnes or about 50,000 liters a day annually, Willis Lease Finance said.
The company said Willis Sustainable Fuels it is currently executing the project's detailed design phase, while McDermott will perform early engineering, procurement and construction-related services.
The project's technology aims to product 100% sustainable aviation fuel that can be blended with conventional jet fuel to be immediately used with existing commercial aircraft engines, the company said.
Willis Lease Finance shares were down 5.6% in recent Monday trading.
Price: 151.21, Change: -8.95, Percent Change: -5.59
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