Yokogawa Joins Avelia’s Blockchain-Powered Sustainable Aviation Fuel Purchasing Program

Bangalore (Karnataka) [India], October 18: Yokogawa Electric Corporation announces it has become the first industrial automation customer headquartered in Asia to join Avelia, a blockchain book-and-claim platform for sustainable aviation fuel (SAF). Launched in June 2022, Avelia was developed by Shell and Accenture, with support from the Energy Web Foundation together with American Express Global Business Travel (Amex GBT). Avelia aims to aggregate global business demand for SAF, to help increase SAF supply and support the aviation industry’s progress towards net-zero emissions.

It is said that SAF, when used neat, can reduce lifecycle carbon emissions by up to 80% when compared to traditional fossil-based fuels. It is currently considered as the aviation industry’s most promising pathway to decarbonizing air travel.

Avelia uses blockchain to provide clear and transparent tracking of the environmental attributes of SAF delivered into the aviation fueling network. Environmental attributes can then be allocated to both airlines and business customers, while avoiding issues such as double counting.

Jan Toschka, President, Shell Aviation, said: “It is fantastic to welcome Yokogawa as Avelia’s first industrial automation customer headquartered in Asia. Increasing the supply and use of SAF will only be possible if all parts of the aviation value chain work together, and through Avelia we are working with businesses like Yokogawa to support this transition and help make it happen.”

Koji Nakaoka, a Yokogawa Senior Vice President and Head of the company’s Energy & Sustainability Business Headquarters and Global Sales Headquarters, said, “To achieve net-zero emissions, through such initiatives, Yokogawa will contribute to the swift adoption of SAF and the reduction of CO2 emissions.”

https://aveliasolutions.com/

https://www.iata.org/en/programs/environment/sustainable-aviation-fuels/

About Yokogawa

Yokogawa provides advanced solutions in the areas of measurement, control, and information to customers across a broad range of industries, including energy, chemicals, materials, pharmaceuticals, and food. Yokogawa addresses customer issues regarding the optimization of production, assets, and the supply chain with the effective application of digital technologies, enabling the transition to autonomous operations. Founded in Tokyo in 1915, Yokogawa continues to work toward a sustainable society through its 17,000+ employees in a global network of 129 companies spanning 60 countries. For more information, visit www.yokogawa.com

The names of corporations, organizations, products, services and logos herein are either registered trademarks or trademarks of Yokogawa Electric Corporation or their respective holders.

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.

Press Release