In this episode, Oscar is joined by two guests at the heart of Europe's eSAF scale-up effort: Amy Herbert, Arcadia eFuels, and Thomas Engelmann, KGAL— both key figures within Project SkyPower, the industry initiative lobbying the European Commission to put in place the conditions needed to bring eSAF projects to final investment decision.

Amy opens with an overview of Arcadia eFuels and its flagship Project Endor in Denmark — one of the most advanced eSAF projects in Europe, with FEED complete, permits secured, and an offtake agreement on the verge of being signed. Thomas explains KGAL's role as an infrastructure equity investor — with a stake in Project Endor — giving him a view of the eSAF financing challenge.

The conversation digs into Project SkyPower's ten-point recommendation letter to the European Commission, with a particular focus on the proposed double-sided auction mechanism and the role of H2 Global as a market-making intermediary. We explore why this instrument is seen as critical to breaking the chicken-and-egg deadlock between offtakers and producers — and why the timeline for getting it in place is a source of real concern, given that the 2030 eSAF mandates are fast approaching and greenfield refineries take years to build.

We also have a frank debate on airline competitiveness and the level playing field argument, whether eSAF is being treated fairly given that new fossil refineries would face comparable economics, why renewable electricity cost — not policy complexity — is a fundamental driver of eSAF pricing, and why the question isn't really whether to be optimistic about 2030, but what Plan B looks like if Europe fails to act.

Getting fully behind World Cup fever, SAF Investor is running The SAF World Cup.

Gathering experts from different countries, we will be running a knock out style bracket to find the most promising SAF country in the world. Decided by popular vote!

Whether it is policies, access to capital, offtakers, feedstock access, infrastructure expertise all these will be key discussion points.

Join for a bit of World Cup fun alongside some serious discussion!

Speakers include:

Trevor Best, Syzygy Plasmonics - Brazil

Philippe Haffner, Haffner Energy - France

Jim Stonecipher, EdyMac - United States of America

Andrew Symes, OXCCU - England

Izabela Santos, StratX Group - Sweden

Listen to the full webinar on our podcast for some light but informative SAF competition.

In this episode, we sit down with Dan Sutton, CEO and co-founder of Syntholene, to explore their geothermally integrated synthetic fuel production technology currently being developed in Iceland.

Dan explains why geothermal energy is such a compelling foundation for eSAF production, how Syntholene's solid oxide electrolyzer cell (SOEC) technology — integrated with Iceland's abundant heat and electricity — creates a step-change in hydrogen cost reduction, and why the company believes it can achieve unit economics competitive with fossil fuels without relying on perpetual subsidies.

We also explore the independent feasibility study conducted by notable alternative fuels sceptic Robert Rapier, whose findings validated Syntholene's scientific fundamentals while identifying the integration and construction risks that Dan openly acknowledges — and explains how his team is managing them.

The conversation broadens into project development philosophy, the replicability of the Iceland model in geothermally active regions globally and how you manage earthquake and volcano risk, Iceland's strikingly low-bureaucracy environment for infrastructure permitting, and a frank debate on whether European eSAF policy is addressing the real problem — or papering over a fundamental unit economics challenge.

We close with Syntholene's unconventional but deliberate choice to go public on the TSX Venture Exchange — and why Dan believes building in public, with a diversified investor base, gives the company more control over its destiny than the traditional venture capital route.

For the 100th episode of The SAF Podcast, we're joined by Mikala Grubb, Senior Vice President of Technologies, Topsoe — one of the world's leading catalysis and technology companies, whose technology produces an estimated third of all the SAF available globally today.

We start with feedstocks — why the constraints on used cooking oil and animal fats are tightening, what a post-2030 feedstock crunch could look like, and which next-generation feedstock options (from intermediate crops and municipal solid waste to tire-derived feedstocks) are genuinely gaining traction versus those still some way from commercial reality.

We then turn to technology: how Topsoe's HydroFlex HEFA technology became the commercial backbone of today's SAF industry, the role co-processing can play as a pragmatic stepping stone, and why Mikala's advice to developers facing ASTM certification delays is simple — start with renewable diesel and switch when certified. We also explore the ESAF pathway, the importance of the Topsoe-DLR-Sasol demonstration plant currently under construction, and why Topsoe is ready to sign full commercial-scale ESAF contracts today.

Throughout, a clear theme emerges: successful SAF projects are built on feedstock security, offtake certainty, the right partner ecosystem, and a willingness to be pragmatic.

Happy 100th, The SAF Podcast. Thank you to all the guests we have had over the last 100 episodes and to everyone that has listened!

Adam Forsyth, founder of Longspur Capital joins for the latest episode of The SAF Podcast. A leading voice in clean energy investment, we explore how sustainable aviation fuel (SAF) fits into the broader energy transition — and what it will take to unlock the capital needed to scale it.

Adam draws on decades of experience across equity research, corporate finance, and clean energy advisory to unpack the structural financing challenges unique to SAF: the offtake mismatch, the difficulty of securing long-term airline contracts, and why the "alignment problem" is one of the biggest barriers to reaching final investment decision on advanced fuel projects.

We explore how geopolitical shifts — particularly the fracturing of the post-WWII trade consensus — are reshaping energy investment, introducing a "security premium" that may, in some ways, work in SAF's favour. We also discuss the evolving role of carbon dioxide removal credits, the lessons SAF developers can draw from analogous sectors like grid-scale batteries and green hydrogen, and why the UK's Contract for Difference model offers a potentially powerful template for SAF policy support.

From the prospects of HEFA feedstock constraints and eSAF economics, this is a wide-ranging conversation for anyone working at the intersection of clean energy finance and aviation decarbonisation.

In this episode, we sit down with Alasdair Lumsden, co-founder of Carbon Neutral Fuels, to explore how taking a screwdriver to a VCR led to his time in tech entrepreneurship, which eventually ended up in the world of sustainable aviation fuel.

Alasdair walks us through the company's Power-to-Liquid e-SAF project, Project Starling — a commercial-scale facility planned for Workington, Cumbria, targeting 25,000 tonnes per year of SAF by 2031.

We dig into the nuts and bolts of CNF's technology stack — solid oxide electrolysis (with Topsoe), Fischer-Tropsch synthesis (Johnson Matthey's FT CANS process), and upgrading technology (Honeywell UOP) — and how CNF is integrating waste heat recovery to improve efficiency and unit economics.

Alasdair also explains the decision to skip the demo phase and go straight to commercial scale, why their CO2 sourcing strategy shifted from 100% direct air capture to a mix of biogenic sources, and how they secured a 2031 grid connection date by choosing Cumbria over more traditional industrial sites.

On the commercial side, Alasdair discusses how CNF has raised over £11 million to date — including £7.4 million from the UK Advanced Fuels Fund across two rounds — and is now mid-way through a £24 million Series A, targeting patient capital and strategic investors.

We also cover offtake strategy, the Revenue Certainty Mechanism, the hydrogen policy disconnect, and why Alasdair sees the UK's DFT as a genuine competitive advantage for SAF developers looking to de-risk before expanding internationally.

This week's episode sees Vinesh Sinha, CEO, FatHopes Energy, joins Oscar Henderson for a conversation on the SAF Podcast.

Vinesh Sinha dropped out of university in 2007, inspired by a Top Gear episode, and built FatHopes Energy into one of Southeast Asia's most sophisticated sustainable fuel feedstock operations — with a digital traceability platform years ahead of the competition.

In this episode, Vinesh talks feedstock aggregation, the realities of scaling a waste-oil supply chain across Southeast Asia, and why FatHopes Energy is now moving into SAF refining with a 300,000-tonne greenfield plant targeting operations by 2030.

Plus: the truth about POME and palm oil, why AI is the only way to solve traceability at scale, and why Vinesh thinks the SAF industry is dangerously underestimating three things — feedstock, infrastructure, and integrity.

This is a wide ranging conversation and one that digs into the critical components that is helping build Malaysia as a SAF global hub.

Check out the full episode on your favourite platforms or use the link in the comments.

In this episode of The SAF Podcast, Oscar is joined by Shubhda Kaushik, managing director & chief executive officer, Alternative Energy Company, to explore what it really takes to move sustainable aviation fuel projects from ambition to final investment decision. Drawing on experience at Standard Chartered, Bain and McKinsey and Maersk, giving her a rounded perspective across finance, strategy and commercial practicality. Shubhda explains why capital for energy transition projects is not scarce, but selective — and why bankability must be built in from day zero.

The conversation also dives into Shubhda’s new book, The Decisive Decade - 2026 Volume I: A Practitioner's Manual - What will it take to win on bankability in the next phase of energy transition.

We explore the core bankability framework behind it: revenue certainty, infrastructure access, execution capability and risk allocation.

This is just volume I, so if you enjoyed this stay tuned for volume II for a check in on the energy transition's progress.

This is a practical discussion for SAF producers, airlines, investors, lenders and anyone trying to understand why so many projects look promising on paper but struggle to reach financial close.

This episode gives you a great introduction to what is explain at length in the book, which you can find here: https://www.amazon.co.uk/Decisive-Decade-Practitioners-bankability-transition/dp/B0GZHQR25T/ref=sr_1_1?crid=3MEKZBXCEA3ZB&dib=eyJ2IjoiMSJ9.ikEBk10suF88vWdw1KH_CcBNnz9j6PniHNHHDWsie_fENicXTm3b2WClyMPMQ4pLvgKL6EJah0NMTppyB8GMRvqW_nJ3SG99vgYueNEUz1I.rZjcjiPvwirmc57l23MD1XG5HYaUI2osS2EXQErFT6I&dib_tag=se&keywords=the+decisive+decade&qid=1778142508&sprefix=the+decisive+decad%2Caps%2C293&sr=8-1