Shares of London-listed fuels technology firm Velocys rose by more than 40% on Wednesday after it announced two deals related to the supply of aviation fuel.
In a statement, the company said its subsidiary, Velocys Renewables, had entered into an agreement with Southwest Airlines.
The deal relates to a planned biorefinery in Mississippi, with Southwest set to buy an expected 219 million gallons of sustainable aviation fuel at a fixed price across a period of 15 years.
“After blending, this will enable approximately 575 million gallons of net zero SAF,” Velocys said. The Bayou Fuels biorefinery is slated to start commercial delivery of fuel “as early as 2026.”
In addition to the deal with Southwest, Velocys Renewables signed a memorandum of understanding with the International Consolidated Airlines Group. Again, the deal is connected to the Bayou Fuels project.
According to Velocys, it “covers the purchase by IAG’s constituent airlines, which includes British Airways, Aer Lingus and Iberia amongst others, of an expected 73 million gallons of SAF, in aggregate, at a fixed price.”
The purchase contract is due to last for 10 years from 2026. Post blending, the equivalent of 192 million gallons of net zero SAF will be generated.
In a statement issued alongside Velocys’ announcement, IAG’s CEO, Luis Gallego, described the agreement as “another important step towards achieving our goal of 10 per cent sustainable aviation fuel use by 2030.”
Although the European Union Aviation Safety Agency says there’s “not a single internationally agreed definition” of sustainable aviation fuel, the overarching idea is that it can be used to reduce an aircraft’s emissions.
According to Velocys, Bayou Fuels will focus on processing waste from the lumber and paper industries, which it describes as “woody biomass forest residue that would otherwise rot on the forest floor or contribute to forest fires.”
Carbon capture and storage technology will be used at the project to allow for what Velocys calls “the commercial-scale production of SAF with an extremely negative carbon intensity.”
Aviation’s challenge
As concerns about sustainability and the environment mount — the World Wildlife Fund describes air travel as “the most carbon intensive activity an individual can make” — discussions around aviation are increasingly focused on how innovations and ideas could cut its environmental footprint.
In a recent interview with CNBC’s Steve Sedgwick, Ryanair CEO Michael O’Leary was cautious when it came to the outlook for new and emerging technologies in the sector.
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“I think … we should be honest again,” he said. “Certainly, for the next decade … I don’t think you’re going to see any — there’s no technology out there that’s going to replace … carbon, jet aviation.”
“I don’t see the arrival of … hydrogen fuels, I don’t see the arrival of sustainable fuels, I don’t see the arrival of electric propulsion systems, certainly not before 2030,” he went on to say.
“So it will certainly be after my career in the airline industry is finished … but I hope it will get here before the end of our mortal lives.”
A view of offshore oil and gas platform Esther in the Pacific Ocean on January 5, 2025 in Seal Beach, California.
Mario Tama | Getty Images
President-Elect Donald Trump said Tuesday that he will reverse President Joe Biden‘s ban on offshore drilling along most of the U.S. coastline as soon as he takes office.
“I’m going to have it revoked on day one,” Trump said at a news conference, though he indicated that reversing the ban might require litigation in court.
Biden announced Monday that he would protect 625 million acres of ocean from offshore oil and gas drilling along the East and West coasts, the eastern Gulf of Mexico, and Alaska’s Northern Bering Sea. The president issued the ban through a provision of the 1953 Outer Continental Shelf Lands Act.
An order by Trump attempting to reverse the ban will likely end up in court and could ultimately be struck down.
During his first term, Trump tried to issue an executive order to reverse President Barack Obama’s use of the law to protect waters in the Arctic and Atlantic from offshore drilling. A federal court ultimately ruled that Trump’s order was not lawful and reversing the ban would require an act of Congress.
The Republican Party has a majority in both chambers of the new Congress.
Chinese EV Automaker ZEEKR is marking its third consecutive presence on the display floors of CES. During this year’s event, ZEEKR began teasing at least three new models scheduled to launch in 2025, some of which will feature an NVIDIA DRIVE Thor-based smart driver domain controller. In addition to those codenamed models, ZEEKR is also planning to launch another NVIDIA DRIVE Thor-equipped EV called “RT” in the US to be used by robotaxi developer Waymo.
ZEEKR wasted no time touting its latest EV and autonomous driving technology at CES 2025, which kicked off in Las Vegas earlier this week. As noted above, 2025 marks ZEEKR’s third consecutive participation in the annual tech event, which is notable considering the company was founded less than four years ago.
During last year’s event, ZEEKR showcased its 007, which had just launched in China days before. It offers a 540-mile range and a starting price below $30,000. At CES 2023, ZEEKR made its public debut in the US, showcasing its flagship 001 shooting brake and a purpose-built EV designed for robotaxi network Waymo, which we saw up close later that fall.
The Waymo BEV has become known as the ZEEKR RT, which is mentioned alongside several exciting announcements that the Chinese automaker teased last month.
ZEEKR shares plans for new models, plus Waymo BEVs
ZEEKR kicked off CES 2025 today with news of a new domain controller built using NVIDIA’s DRIVE Thor next-generation centralized computer. NVIDIA unveiled DRIVE Thor in the fall of 2022, announcing ZEEKR as its first customer and initial production of vehicles featuring the technology planned for early 2025.
As such, ZEEKR is hailing itself as the first OEM to integrate NVIDIA’s next-gen system-on-chip (SoC) into a domain controller to handle a wide range of smart driving, autonomous scenarios, and parking functions. Per NVIDIA during the DRIVE Thor debut, the computer “achieves up to 2,000 teraflops of performance, unifies intelligent functions — including automated and assisted driving, parking, driver and occupant monitoring, digital instrument cluster, in-vehicle infotainment (IVI) and rear-seat entertainment — into a single architecture for greater efficiency and lower overall system cost.”
As NVIDIA’s first DRIVE Thor customer, ZEEKR said its domain controller will soon be mass-produced and integrated into a new large SUV model to be launched this year. That SUV will be one of three new BEVs ZEEKR plans to launch in 2025. According to ZEEKR CEO Andy An, those vehicles have been internally codenamed “EX,” “DX,” and “CC.”
In addition to those passenger EVs in the works, ZEEKR shared that its RT van, based on the MIX and explicitly designed as a robotaxi for Waymo, is undergoing real-world testing and is expected to arrive as the world-first mass-produced purpose-built vehicle for autonomous rides.
ZEEKR RT deliveries to Waymo are expected later this year for further testing ahead of a future public robotaxi network launch. If that happens, ZEEKR could become the first Chinese EV brand to enter the US market, although it’s a bit of a loophole.
ZEEKR’s 009 MPV, MIX van, and 001 FR shooting brake are on display at CES at booth #5640 in the West Hall of the Las Vegas Convention Center. Go check them out.
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How about a new EV with your next Amazon order? As the first brand to sell vehicles on Amazon, Hyundai says, “You’re gonna need a bigger cart.” Hyundai is now selling cars directly on Amazon, including popular EVs like the IONIQ 5. Here’s how you can snag one.
How can you buy Hyundai EVs directly on Amazon?
Buying a new Hyundai is now as easy as adding it to your next Amazon order. However, you might need a bigger cart.
Amazon revealed plans to expand into vehicle sales in 2023, starting with Hyundai. After making it official at the 2023 LA Auto Show, Hyundai began selling vehicles on the platform just before the end of 2024.
Buying a new vehicle on Amazon Auto is as easy as buying a new laptop or outfit. You can browse through available Hyundai vehicles near you, secure financing, checkout, and schedule a pick-up time directly using Amazon’s trusted platform.
You can easily find the vehicle you’re looking for with the option to sort by model, trim, color, features, and more. After you find it, you can secure financing, sign the paperwork electronically, and complete the process in just a few clicks.
The best part is the haggle-free pricing. What you see at checkout is the price you will pay. Once finalized, you can pick the day and time to pick up your new ride at a local dealership.
If you have a trade-in, you can get an instant quote by answering a few questions and uploading images of the car. Then, you can apply the credit toward your new vehicle on Amazon Autos. When you go to pick up your new vehicle, the dealership will be ready for it.
Hyundai plans to expand the program by adding more dealers throughout the year and offering more leasing and financing options. On the Amazon Auto website, you can view Hyundai vehicles at participating dealers near you.
You can already find top-selling Hyundai EVs on Amazon Auto, including the updated 2025 IONIQ 5 and IONIQ 6. With new models, like the three-row IONIQ 9 rolling out, expect to see more EVs available soon.
The new IONIQ 5 starts at $42,500. With a bigger (84 kWh) battery, the updated model has a range of 318 miles, up from 303 miles in the outgoing IONIQ 5. It also has an NACS port, so it can be charged at Tesla Superchargers.
After kicking off production at its new EV plant in Georgia late last year, Hyundai’s electric vehicles now qualify for the $7,500 EV tax credit for the first time.
For those of you who don’t have access to the program yet, we’ve got you covered. With the new 2025 models rolling out, Hyundai is offering 2024 IONIQ 5 SUVs for next to nothing while they are still in stock. You can use our links below to find the best deals on Hyundai EV models in your area.
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