SAFFA Commits Up to $30 Million to Advance SAF One Project, Strengthening Sustainable Aviation Fuel Production in the Middle East
In a significant step toward accelerating the global transition to lower-carbon aviation, SAFFA Fund I, LP (“SAFFA”) has announced an investment of up to $30 million in a flagship project developed by SAF One Energy Management Limited (“SAF One”). The investment underscores growing momentum behind sustainable aviation fuel (“SAF”) as the aviation industry intensifies efforts to reduce carbon emissions and meet long-term climate goals.
SAFFA is an investment fund managed by Burnham Sterling Asset Management LLC (“BSAM”), with a stated objective of accelerating the development, scaling, and commercialization of SAF production worldwide. Of the total committed amount, $10 million has already been funded, with the remaining capital expected to be deployed in phases as the project advances. Construction on the SAF One project is scheduled to begin in 2026, with commercial production of sustainable aviation fuel targeted for the fourth quarter of 2028.
The project represents a major milestone for both organizations and positions the Middle East as an emerging hub for SAF production at a time when airlines, regulators, and governments are seeking reliable, scalable sources of cleaner aviation fuel.
A Strategic Investment in the Future of Aviation
Sustainable aviation fuel is widely regarded as one of the most immediate and impactful tools available to reduce lifecycle greenhouse gas emissions from air travel. Produced from renewable or waste-based feedstocks, SAF can deliver substantial emissions reductions compared to conventional jet fuel while remaining compatible with existing aircraft and fueling infrastructure.
Despite its potential, global SAF supply currently lags far behind demand. Scaling production requires not only technological expertise but also long-term capital, regulatory support, and close collaboration across the aviation value chain. SAFFA’s investment in SAF One reflects a strategic effort to address these challenges by supporting projects that demonstrate both technical readiness and commercial viability.
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 the SAF One project becoming a key supplier of SAF for the global aviation industry.”
SAF One’s Middle East Project Reaches Critical Milestones
SAF One has spent several years developing a pipeline of sustainable aviation fuel projects designed to serve regional and international aviation markets. The Middle East project supported by SAFFA has already achieved several critical development milestones, including site planning, early-stage engineering, and engagement with key stakeholders across the aviation and energy sectors.
With construction planned to commence in 2026, the project is expected to move from development into execution at a pace aligned with growing airline demand for SAF. Once operational, the facility aims to deliver SAF to both regional carriers and international airlines operating in and through the Middle East, a region that plays a central role in global air travel networks.
Under the terms of the investment agreement, SAFFA has the ability to scale its financial commitment over time, depending on project progress and the successful delivery of SAF to aviation customers. This phased approach reflects a long-term partnership model that aligns capital deployment with measurable milestones and market uptake.
Strengthening SAF Supply in a Strategic Aviation Hub
The Middle East’s position as a crossroads of global aviation makes it a strategically important location for SAF production. Major international hubs in the region connect Europe, Asia, Africa, and the Americas, creating both a significant concentration of fuel demand and an opportunity to supply SAF at scale to long-haul and short-haul operations alike.
By supporting what SAF One believes will be the first project to deliver sustainable aviation fuel from the Middle East, SAFFA’s investment could play a catalytic role in accelerating regional adoption of SAF. Increased local production has the potential to reduce supply constraints, lower transportation costs, and encourage airlines operating in the region to integrate SAF into their fuel strategies.
“SAF One is delighted to partner with SAFFA and its stakeholders in the funding of our first project, which we believe will be the first to deliver SAF out of the Middle East region,” said Mounir Kuzbari, Co-Founder and Executive Chair of SAF One. “This partnership represents a major step forward in our mission to support the aviation industry’s decarbonization efforts.”
A Customer-Centric Approach to Scaling SAF
Unlike one-size-fits-all fuel solutions, SAF adoption often depends on airline-specific needs, regulatory environments, and long-term procurement strategies. SAF One has emphasized a customer-focused approach, working closely with aviation industry stakeholders to design solutions that support adoption while maintaining operational reliability and cost transparency.
“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 Chief Executive Officer of SAF One.
By aligning production capabilities with airline demand and sustainability commitments, SAF One aims to reduce barriers to SAF uptake and encourage long-term offtake agreements that provide stability for both producers and customers.
The Role of Capital in Accelerating Decarbonization
The announcement highlights the growing role of specialized investment funds in advancing sustainable aviation initiatives. Traditional financing models have often struggled to support early SAF projects due to high capital costs, long development timelines, and evolving regulatory frameworks. Funds like SAFFA are designed to bridge this gap by deploying targeted capital alongside industry expertise.
Managed by BSAM, SAFFA focuses on investments that can materially accelerate SAF production and create scalable models for future projects. By partnering with platforms such as SAF One, the fund aims to support projects that can move beyond pilot scale and contribute meaningfully to global fuel supply.
“Scaling SAF is not just about technology—it’s about building ecosystems that bring together developers, airlines, investors, and policymakers,” Morgan said. “This investment reflects our belief that SAF One has the vision and execution capability to play a leading role in that ecosystem.”
With groundbreaking expected in 2026 and SAF production targeted for Q4 2028, the SAF One project will progress through detailed engineering, procurement, and construction over the coming years. As milestones are achieved, SAFFA’s investment may expand, further strengthening the project’s financial foundation.
For the aviation industry, the project represents another concrete step toward bridging the gap between SAF ambition and actual supply. For the Middle East, it signals the region’s growing participation in global decarbonization efforts, extending beyond traditional energy markets into sustainable fuels for aviation.
As airlines face increasing pressure from regulators, investors, and passengers to reduce emissions, partnerships like that between SAFFA and SAF One are expected to become more common. By combining capital, technical expertise, and a shared commitment to sustainability, such collaborations have the potential to reshape the future of aviation fuel.
A Foundation for Long-Term Industry Impact
Ultimately, the SAFFA–SAF One investment reflects a broader shift within the aviation and energy sectors toward long-term, collaborative solutions to climate challenges. Rather than incremental change, the project aims to establish a scalable model for SAF production that can be replicated in other regions and adapted to evolving market needs.
As SAF One advances its Middle East project and continues to develop its broader project pipeline, the partnership with SAFFA positions both organizations at the forefront of sustainable aviation fuel development—helping lay the groundwork for a lower-carbon future for global air travel.
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