Syzygy Plasmonics has entered into a framework agreement with the International Finance Corporation (IFC), the private-sector investment arm of the World Bank Group, to support the development of sustainable aviation fuel (SAF) projects across Latin America. The partnership will provide technical and commercial advisory support as Syzygy expands its SAF technology and project pipeline throughout the region.
The first project covered by the agreement is NovaSAF-1, a planned commercial-scale SAF facility in Durazno, Uruguay. The project is expected to become the first commercial deployment of Syzygy’s proprietary technology and could establish a model for additional SAF facilities across Latin America.
NovaSAF-1 is designed to produce sustainable aviation fuel using renewable electricity and biogas. Syzygy’s technology replaces conventional fossil-fuel-based process heat with renewable electricity to power light-driven reactors. These reactors convert biogas into SAF, offering a potentially lower-carbon alternative to conventional jet fuel.
According to Syzygy, the technology could reduce lifecycle greenhouse gas emissions by as much as 90% compared with conventional jet fuel. The approach could help address growing demand from airlines for scalable alternatives that reduce aviation-sector emissions while using locally available renewable resources.
The agreement with IFC comes as the aviation industry seeks commercially viable SAF technologies capable of supporting long-term decarbonization targets. Latin America offers significant opportunities because of its renewable power potential and availability of biogas feedstocks. Syzygy aims to combine these resources with its technology to accelerate SAF commercialization in emerging markets.
IFC Regional Investment Manager Raphaël Eskinazi said the organization aims to support innovative projects that can attract private investment, establish viable business models and enable wider adoption of lower-carbon technologies across emerging economies.
Syzygy Co-Founder and CEO Trevor Best said IFC’s participation reinforces the company’s ambition to commercialize and replicate its technology across emerging markets. The partnership is expected to strengthen Syzygy’s ability to advance its NovaSAF development strategy.
The company already has several commercial agreements supporting its regional expansion. Trafigura has signed a binding offtake agreement covering NovaSAF-1’s entire production. In addition, Trafigura and World Fuel Services have signed capacity reservation agreements for future SAF facilities across Latin America.
Syzygy has also secured feedstock agreements with partners including Estancias del Lago and Geo Bio Gas & Carbon. These arrangements provide additional support for the company’s long-term expansion strategy.
Syzygy ultimately targets up to one million metric tons per year of SAF production capacity in Brazil by 2035. If successfully implemented, the partnership with IFC could help move Syzygy’s technology from demonstration toward commercial-scale deployment while supporting Latin America’s emerging low-carbon aviation fuel market.
Product Impact and Chemical Commodity Price Impact
The agreement is positive for Syzygy’s SAF technology because IFC’s technical and commercial support can accelerate NovaSAF-1 toward commercial deployment and improve investor confidence. Full offtake commitments and feedstock agreements further strengthen the project’s commercial position. Greater SAF production could increase demand for biogas, renewable electricity and associated processing chemicals, while potentially reducing reliance on conventional fossil-based jet fuel. For chemical commodities tracked by ChemAnalyst, higher SAF investment may provide moderate long-term support to prices of methanol, hydrogen, carbon dioxide and other feedstocks or intermediates used in low-carbon fuel pathways. However, near-term price effects are likely limited because commercial-scale capacity remains under development.
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