Bangchak Group reaffirms its readiness to launch its Sustainable Aviation Fuel (SAF) production project, with readiness across feedstock, technology, and market acceptance. The Group is a pioneer in Thailand in producing 100% Neat SAF using used cooking oil (UCO) and alternative feedstocks (waste oils from industrial and service sectors), under the internationally recognized International Sustainability and Carbon Certification (ISCC) system.
Mr. Chaiwat Kovavisarach, Group Chief Executive Officer and President of Bangchak Corporation Public Company Limited, stated that the SAF project is a major milestone for Bangchak, marking its evolution from a renewable energy leader to a future energy leader. The company builds on over 20 years of experience in UCO collection for biofuel production and benefits from cost advantages by utilizing existing refinery infrastructure, helping reduce both construction and operational costs.
As of April, construction progress has surpassed 96%, with operations scheduled to begin in the second quarter of 2025. The plan starts with a Plant Performance Test Run, followed by a production ramp-up aligned with sales contracts and growing market demand. The company has already signed SAF purchase agreements with key customers and entered into tolling arrangements. Additional partnership discussions are also underway.
Although many countries, particularly in Asia, have yet to implement clear SAF blending mandates, global demand for SAF continues to rise, driven by Net Zero targets and carbon reduction goals in the aviation sector. Meanwhile, regions such as the European Union have already set minimum SAF usage targets of 2% by 2025, reflecting a clear policy direction and creating strong investment incentives. In the short term, the SAF market may experience a temporary surplus; however, from 2030 onward, it is projected to face a supply shortage as mandates begin to take effect in countries worldwide.
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