CASE STUDY 18 Avelia, the blockchain-powered book and claim solution for scaling SAF demandEstablishing novel value-chain partnerships is essential to accelerate clean energy adoption and infrastructure development within industrial clusters. Value chain partnerships connect players across the value chain down to the end consumer, both within and beyond clusters. In this way, it becomes easier to recognize willingness to pay across products and sectors, enabling the spread of the green premium across the value chain. As the value chain gets close to the end consumer, the green premium from a given clean fuel can be diluted and simultaneously directed to customer segments with higher willingness to pay. Forming such partnerships can innovative new business models and drive demand for clean energy.Value chain partnerships Developed jointly by Shell, Accenture, Energy Web Foundation (EWF) and American Express Global Business Travel (Amex GBT), Avelia is one of the first blockchain- powered book and claim solutions for aviation that has proven results in scaling sustainable aviation fuel (SAF) demand. Since Avelia was launched in 2022 to September 2024, Shell Aviation has injected over 18 million gallons of SAF into the existing fuel network, helping to abate50 more than 165,000 tons of carbon dioxide equivalent (CO2e), the equivalent of over 290,000 passengers flying from London to New York.51 Over 35 airlines and corporations52 have purchased environmental attributes through Avelia. The platform has successfully demonstrated the credibility of the book and claim model by enabling more stakeholders from the aviation value chain to use and benefit from SAF. Thanks to the use of blockchain technology, Avelia enables the secure, reliable and transparent tracking and allocation of SAF’s environmental attributes to companies and airlines. By aggregating global business demand for SAF through its platform, Avelia helps create the market demand signals that very well could attract the required investments to scale SAF production and infrastructure and contribute to the aviation industry’s journey to net zero.SAF is a key scalable in-sector solution for decarbonizing aviation. Avelia was developed to help generate the scalable demand necessary to help the sector transition to net-zero emissions by 2050. Through its book and claim chain- of-custody model and blockchain technology, Avelia helps to enable broader value chain participation to unlock SAF demand at scale. By making the environmental attributes of SAF accessible to corporations and airlines, it is possible to aggregate global business demand for SAF, which will help drive SAF investment and production scale, contributing to reducing emissions from air transport. Raman Ojha, President, Shell Aviation Note: The views presented in this white paper do not necessarily reflect the views of all of the member organizations of the Transitioning Industrial Clusters initiative. Aircraft refuelling Unleashing the Full Potential of Industrial Clusters: Infrastructure Solutions for Clean Energies 38

Unleashing the Potential of Industrial Clusters 2025