SAFFA Invests Up to $30 Million in Middle East SAF Project, Targeting Production by 2028

SAFFA Fund I has committed up to $30 million in a sustainable aviation fuel project being developed by SAF One Energy Management, marking a significant step toward establishing SAF production capacity in the Middle East. An initial $10 million has already been funded, with construction scheduled to begin in 2026 and SAF production targeted for the fourth quarter of 2028.

The project represents a key milestone for SAF One, which has spent several years developing a pipeline of SAF initiatives and has now secured investment to advance its first production facility in the region. Under the investment agreement, SAFFA may increase its funding as the project progresses and fuel becomes available to the aviation market.

“Scaling SAF globally requires collaboration across the ecosystem, and SAF One has made strong progress on its Middle East project,” said Michael Dickey Morgan, executive managing director of Burnham Sterling Asset Management, which manages SAFFA. He noted the project’s potential role in supporting global aviation decarbonization efforts.

SAF One leadership emphasized the importance of regional production and customer alignment. The company said the project is intended to deliver SAF tailored to airline needs, recognizing that long-term adoption depends on reliable supply, commercial viability, and industry support.

SAFFA was established to accelerate SAF production through strategic investments and includes co-investment from Airbus, Air France-KLM Group, Associated Energy Group, BNP Paribas, Burnham Sterling, CMA CGM, Mitsubishi HC Capital, and Qantas Airways. The fund’s total commitments amount to approximately $208 million.

If you want, I can also give you a slightly more ops-focused version that ties this directly to airport fueling infrastructure and ground handling considerations.