The letter of intent is for the offtake of up to10 ML of renewable jet fuel conforming to ASTM D1655 (or a successor standard) and fully certified for use as Jet A-1 after blending, meeting all additive and quality requirements applicable at the time of delivery. This represents 10% of the total projected production capacity at Provectus’ planned Dobrojet Biofuels facility that is to be sited in Vegreville, Alberta. Deliveries are expected to commence in 2029.
“Forward thinking airports and airlines, that are aware of the impact of global regulations and the current constraints on renewable sustainable jet fuel supply, recognize the urgent need to secure low-carbon aviation fuel for their future fuel supply portfolio,” said Jon Jaque, CEO of Provectus. “The growth in low-carbon aviation fuel volumes under binding contract continue to outpace the addition of actual production capacity globally. As the growing gap between supply and demand causes the price premium on forward volumes to expand further, we expect to add additional offtake agreements to our portfolio.”
In 2024, the International Air Transport Association (“IATA”) reported binding contracts for 16.25 billion litres of sustainable aviation fuel for delivery in 2030. As of June 1, 2025, only 2.5 billion litres of sustainable aviation fuel was expected to be produced globally in 2025. The growing gap between supply and demand is contributing to the 14.8% year-over-year growth in the premium for low-carbon aviation fuel from 2.7 times the cost regular jet fuel in 2024 to 3.1 times in 2025 as reported by IATA.
Advisories
This document contains forward-looking statements. More particularly, this document contains statements concerning: the expected completion of a contract for renewable sustainable aviation fuel produced at Provectus’ proposed Dobrojet biofuels facility in Vegreville, Alberta; the successful commissioning of the Dobrojet biofuels facility; the expected date deliveries of jet-fuel are to commence; the production of jet fuel from the Dobrojet facility conforming to the relevant ASTM standards; and the signing of additional offtake agreements for renewable sustainable jet fuel. Readers are cautioned that the foregoing list should not be construed as exhaustive. Other forward-looking statements can be recognized by the use of the words “anticipate”, “estimate”, “expect”, “will”, “should”, “believe”, “intend”, and similar expressions.
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