SAFFA Fund I, an investment fund managed by Burnham Sterling Asset Management (BSAM) and sustainable aviation solutions platform SAF One Energy Management will invest up to $30 million in a SAF One project.
The project will break ground in 2026 in the Middle East and targeting sustainable aviation fuel (SAF) production by the fourth quarter of 2028.
SAF One has been developing a pipeline of SAF projects over the last several years.
Around $10 million of the investment has already been funded.
"Scaling SAF globally requires collaboration across the ecosystem and SAF One is an ideal partner that has made excellent progress on its project in the Middle East,” said Michael Dickey Morgan, executive managing director of BSAM. “We look forward to SAF One project becoming a key supplier of SAF for the global aviation industry.”
“SAF One’s mission is to deliver customized solutions to its aviation industry customers, recognizing that customer adoption and support is critical to scaling SAF production globally,” said Deepak Munganahalli, co-founder and CEO of SAF One.
Under the terms of the investment, SAFFA could scale its investment over time as the project progresses and SAF production is offered to the aviation industry.