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GK Resources ( (TSE:ESAF) ) has issued an announcement.
Syntholene Energy Corp has signed a non-binding expression of interest with Icelandair under which the carrier aims to purchase about 25 million liters of synthetic sustainable aviation fuel annually for 10 years, contingent on scaled-up production and competitive pricing. The prospective offtake, which has yet to be converted into a definitive supply contract, provides commercial validation for Syntholene’s low-cost eSAF proposition and positions the company to benefit from rapidly tightening EU and UK aviation fuel mandates, generous European subsidies for eSAF, and a global airline push toward sustainable fuels, in a market projected to grow at exceptionally high rates over the coming decade.
More about GK Resources
Syntholene Energy Corp is a synthetic fuel producer focused on low-cost synthetic sustainable aviation fuel (eSAF) made from renewable power, green hydrogen and captured CO₂, targeting the fast‑growing e-fuels and sustainable aviation fuel markets driven by EU decarbonization mandates and global airline emission-reduction goals.
Average Trading Volume: 195,806
Technical Sentiment Signal: Buy
Current Market Cap: C$27.01M
For an in-depth examination of ESAF stock, go to TipRanks’ Overview page.