Turning Challenge into Opportunity 2025

Insights on emerging SAF business models and supply chain options Building on the infrastructure challenges discussed in the off-airport and on-airport sections above, SAF producers are exploring a range of business models to bring SAF to market. The structure and dynamics of these models are shaped by the realities of supply chain access, operational risks and emerging market demands. As the industry matures, producers must navigate established supply chain arrangements and innovative approaches. Each dimension offers distinct opportunities but also presents shortcomings, particularly from the producers’ point of view. The following overview highlights six business model solutions across the two dimensions, along with some of the challenges associated with each model. Note: there are many potential supply chain combinations and regional variations – this overview does not aim to be comprehensive.16 Insight: More-established business models MODEL A: Producer-managed blending and delivery Solution: The producer blends neat SAF into jet fuel and delivers directly to the airline. The airline typically takes control at the airport fuel terminal or point of sale. Challenge: New SAF producers may struggle to access blending and supply chain infrastructure, facing high entry barriers and logistical complexity. Airline ProducerContractBlended SAF (Jet A) $Airline Blending / storage providerProducerContract Neat SAF$ $Blended SAF (Jet A) Airline Producer Third partyNeat SAFContract Blended SAFContract $ $MODEL B: Producer relies on third party or airline for storage/blending Solution: The producer sells SAF to the airline but depends on a third party (or the airline itself) for storage and blending, with infrastructure access costs factored into the offtake agreement. Challenge: Producers may face renegotiation of contracts and additional supply chain charges, reducing margins and complicating commercial relationships. MODEL C: Producer sells to traders or third parties Solution: The producer sells neat SAF or semi-finished products to a trader or third party (e.g. an incumbent integrated fuel supplier), who assumes control at a storage terminal, blending facility or port and markets/delivers to the airline. Challenge: Producers risk sharing commercially sensitive information with competitors and may lose visibility or control over the end-user relationship. Turning Challenge into Opportunity: Supplier Voices from Heavy-Emitting Sectors 13