The SAF Podcast

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

Noaman Al Adhami, UK Country Head at Alfanar Projects, is this week's guest on The SAF Podcast. 
He joins Oscar for a discussion into Lighthouse Green Fuels — one of the UK’s most closely watched sustainable aviation fuel (SAF) projects. We begin by looking at why Alfanar chose to initially focus SAF production in the UK and the decisions around site selection.
We then explore what it takes to develop a second-generation SAF project at scale, including the gasification and FT-SPK pathway, feedstock selection, carbon capture, project financing, and the role of the UK SAF mandate in creating the right conditions for investment. 
Noaman also explains why Alfanar is starting with biomass and agricultural residues, how the project could evolve towards more challenging waste feedstocks, the ongoing Carbon Capture application they have recently submitted and how the project has been financed to this point and future plans for financing project construction.
If you want to understand the real-world challenges of scaling advanced SAF production in the UK, this is an episode you won’t want to miss.
There is still time to submit your applications for the SAF Investor Deal of the Year Awards, we would love to hear from you about any financing deals that have taken place over the past year, your application can be submitted here: https://docs.google.com/forms/d/e/1FAIpQLScwrzV8VN8oqA6c-e0GMlgZmttTQ-U-1D9XxnOgeeQV-ITeiQ/viewform?usp=header

In this episode of The SAF Podcast, Oscar is joined by Patrick Sieb, Managing Partner at Climate Tech Partners, for a conversation on what it really takes to finance and scale sustainable aviation fuel. From Series A climate tech investing to corporate-startup partnerships and the infrastructure challenges behind SAF production, Patrick shares a practical investor’s view on how promising technologies can move from early traction to commercial deployment.
Climate Tech Partners investment model is based on deep due diligence, originating from his time a Macquarie, with focus in Transport, Energy and Mining sectors. 
We dive into a variety of topics including:
How Climate Tech Partners approaches Series A climate tech investing and why that stage can be critical for SAF and other capital-intensive technologies
Why bridging the “valley of death” remains one of the biggest challenges for deep tech and aviation decarbonisation startups
How corporate relationships can help de-risk investments, including Climate Tech Partners’ work with Qantas and Airbus
The practicalities of running a VC fund, raising capital from LPs and portfolio diversification
What the dedicated sidecar investment vehicle means for aviation-focused climate technologies and SAF-related opportunities
Why SAF scale-up depends on much more than strong technology, including the role of feedstock, infrastructure, energy and financing
What investors are really looking for when assessing techno-economics, commercial traction and science risk
Why climate tech is shifting from “moonshot” narratives to more pragmatic pathways focused on cost parity and bankability
How Australia and the wider APAC region could fit into the future of sustainable aviation fuel production and aviation decarbonisation
Also another reminder that we are still accepting applications for the SAF Investor Deal of the Year awards. If you worked on a deal we would love for you to submit it via the following link: https://docs.google.com/forms/d/e/1FAIpQLScwrzV8VN8oqA6c-e0GMlgZmttTQ-U-1D9XxnOgeeQV-ITeiQ/viewform?usp=header

In this episode of The SAF Podcast, Oscar is joined by Nico Nicholas, Co-Founder and CEO of Zeero Group, for a discussion on the commercial and strategic realities of scaling the Hydrothermal Liquefaction SAF pathway. The conversation goes beyond the technical basics to look at how waste-to-fuel projects are financed, how they can be tailored to local infrastructure needs, and why collaboration across sectors may be essential if SAF is to scale at pace.
We dive into a variety of topics including:
How ZEERO Group is approaching project development, with each facility structured around local waste streams, local infrastructure and location-specific business models
Why combining waste management and fuel production could create a stronger commercial case for SAF-linked projects
The financing logic behind these developments, including co-investment models, strategic partners and government-backed support mechanisms
Why investor confidence and proof of delivery remain critical for emerging pathways looking to move from concept to commercial scale
The role of certification timelines and regulatory processes in shaping how quickly new SAF pathways can enter the market
Why scaling SAF may require much deeper collaboration between aviation, municipalities, tourism, shipping and energy stakeholders
This discussion picks up on some key themes from across the SAF industry so is well worth a listen if you are part of the growing ecosystem that is going o make commercial SAF production a global success. We also almost manage to go the whole episode without a crude joke/pun...almost!
We are also currently accepting applications for the SAF Investor Deal of the Year awards. If you have been involved in a financing deal in the last year, we would love to hear about it. You can find the application form here: https://docs.google.com/forms/d/e/1FAIpQLScwrzV8VN8oqA6c-e0GMlgZmttTQ-U-1D9XxnOgeeQV-ITeiQ/viewform

In this episode of The SAF Podcast, host Oscar is joined by Maria Whittaker, Corporate Responsibility Officer at Abra Group — the airline group behind Avianca and GOL, serving nearly 70 million passengers across Latin America.
Maria unpacks the unique challenges and opportunities of scaling sustainable aviation fuel in a region where aviation provides essential connectivity, fuel costs represent up to 40% of operational expenses, and SAF production is still in its earliest stages.
We cover:
🌎 Why Latin America is at a different stage of SAF development than Europe or the US
📋 Brazil's incoming SAF mandate (starting at 1% in 2027, rising to 10% by 2037) 
🤝 Abra's groundbreaking Article 6 collaboration with Sumitomo Corporation to create a book-and-claim SAF export mechanism between Brazil and Japan
💰 The capital and off-take challenges facing SAF producers in the region 
✈️ How Avianca was ranked #1 globally for reducing emissions intensity while growing 
🔮 Maria's vision for the Latin American SAF market by 2030
Whether you're an investor, policymaker, airline professional or SAF producer, this episode offers a compelling window into one of the most dynamic and underexplored SAF markets in the world.
🎧 Subscribe on Apple Podcasts and Spotify, or wherever you get your podcasts, so you never miss an episode.