Yokogawa Joins Avelia: Pioneering Sustainable Aviation Fuel via Blockchain October 12, 2023 October 12, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsOctober 12, 2023 by Kelly Cromley

Yokogawa Joins Avelia: Pioneering Sustainable Aviation Fuel via Blockchain

Yokogawa Electric Corporation, a prominent figure in the industrial automation sector, has made history by becoming the first industrial automation customer headquartered in Asia to participate in Avelia, a blockchain-powered book-and-claim platform designed to promote the use of sustainable aviation fuel (SAF). Avelia, a groundbreaking initiative launched in June 2022, was collaboratively developed by Shell and Accenture, with the active support of the Energy Web Foundation and American Express Global Business Travel (Amex GBT). The primary objective of Avelia is to aggregate global business demand for SAF, thereby increasing its supply and driving the aviation industry’s journey towards achieving net-zero emissions.

SAF, when utilized without any blending, possesses the potential to curtail lifecycle carbon emissions by a noteworthy 80% when compared to conventional fossil-based aviation fuels. This makes SAF the most promising pathway within the aviation industry for decarbonizing air travel, aligning seamlessly with global efforts to combat climate change.

Asia’s First Industrial Automation Customer Aims to Drive Net-Zero Emissions in Aviation Industry

Avelia leverages the power of blockchain technology to establish a transparent and easily traceable record of the environmental attributes associated with SAF delivered into the aviation fueling network. This enables the fair allocation of these environmental attributes to both airlines and business customers while effectively addressing issues like double counting.

Jan Toschka, President of Shell Aviation, expressed his enthusiasm regarding Yokogawa’s involvement in Avelia, underscoring the significance of cooperation within the aviation value chain to boost SAF supply and utilization. He noted that collaborating with companies like Yokogawa is essential for fostering a successful transition towards sustainable aviation fuel, ultimately contributing to a greener and more eco-friendly future for air travel.

Koji Nakaoka, a Senior Vice President at Yokogawa and the Head of the company’s Energy & Sustainability Business Headquarters and Global Sales Headquarters, emphasized the company’s commitment to achieving net-zero emissions. He stated that Yokogawa, through its active involvement in initiatives like Avelia, is dedicated to accelerating the adoption of SAF and the consequent reduction of CO2 emissions.

Yokogawa’s participation in Avelia marks a significant milestone for the industrial automation giant and highlights its commitment to sustainability and environmental responsibility. By aligning with this innovative platform, Yokogawa is poised to contribute significantly to the global efforts aimed at reducing carbon emissions within the aviation industry.

Avelia’s deployment of blockchain technology to manage and allocate SAF’s environmental attributes is a pioneering solution to address sustainability concerns in air travel. It offers a practical way to ensure that businesses and airlines have transparent access to the environmental benefits of SAF without any ambiguity or double counting, thus streamlining the transition towards sustainable aviation fuel.

This move not only places Yokogawa Electric Corporation at the forefront of technological innovation in the industrial automation sector but also underscores its active role in promoting sustainability within the aviation industry. As the first Asian-based industrial automation customer to join Avelia, Yokogawa is positioning itself as a key player in the global shift towards more eco-friendly aviation practices.

In conclusion, Yokogawa’s membership in Avelia represents a significant leap forward in the journey towards net-zero emissions in the aviation industry. By leveraging blockchain technology and facilitating the distribution of SAF’s environmental attributes, Avelia and Yokogawa are forging a path towards a more sustainable and environmentally responsible aviation sector. This collaboration is a testament to the power of technology and industry partnerships in driving positive change for a greener future.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.