VICTOR X NESTE

At Victor we believe in a better way to fly. The future is not in fossil fuels - we are in a transition period to a low carbon economy - which is why we have partnered with Neste, the world’s leading producer of Sustainable Aviation Fuel (SAF) to enable our members to credibly chart a path to Net Zero.

Partnership Summary

Our industry-leading partnership with Neste allows Victor members to meet their climate targets by purchasing SAF on-demand for any private jet booking globally, and to credibly report on their carbon emission reductions. Neste MY Sustainable Aviation Fuel™ reduces greenhouse gas (GHG) emissions by up to 80% compared to fossil jet fuel^*.

Our ‘pay here, use there’ solution’ enables Victor customers to choose how much Neste MY SAF™ they would like to order when paying for their booking. Victor customers will not charter using the Neste MY SAF™ they have purchased for their own flight, however their SAF contribution will ensure another in-sector partner flight benefits from a carbon emission reduction by the amount purchased, ensuring this partnership is aligned with Science Based Targets.

Victor customers can choose how much Neste MY SAF™ they would like to order when paying for their flight. Once the final sector of the customer's itinerary has landed, Victor will notify Neste who will release the ordered SAF to their partner network of airlines for consumption. This new ‘pay here, use there’ model therefore makes Victor the first and only on-demand private jet charter provider to offer SAF for every booking, regardless of operator or departure airport. This is currently not available with any other private jet charter broker, but we hope that this will change.

Neste MY SAF™ is already in production and available to use today - unlike SAF that has not yet been produced, or SAF credits. Victor members have the ability to take control of their climate impact with a SAF solution developed following the aviation sector guidance by the Science Based Targets initiative (SBTi), the gold standard for ambitious corporate climate action.

In this way, Victor’s private and corporate members can credibly and measurably reduce their carbon dioxide emissions (CO₂e), by replacing fossil fuel with Neste MY Sustainable Aviation Fuel, which reduces carbon emissions by up to 80% compared to conventional fossil jet fuel, over the fuel’s lifecycle.

Helene Goury (Neste), Hugo Boiten (Neste), Kate Thomas (Victor), Stuart Manning (Victor), Susanne Bouma (Neste), Toby Edwards (Victor), Jason Reichow (Neste)

About Neste MY Sustainable Aviation Fuel™

Neste MY SAF™ is currently produced in Porvoo, Finland and is manufactured from renewable raw materials such as used cooking oils. Prior to use in aircraft, SAF is blended with fossil jet fuel and certified to meet ASTM jet fuel specifications, before being distributed to airports where it is used to fuel aircraft.

Neste only sources renewable raw materials that are traceable and not harmful. This enables Neste and its partners to monitor the entire supply chain and ensure suppliers’ absolute commitment to strict sustainability criteria. Suppliers must also be committed to combating deforestation, protecting biodiversity and respecting human rights as defined in Neste’s Supplier Code of Conduct.

For more details, please visit: Neste I Sustainable supply chain

Key Benefits of Neste MY SAF

Viability

• SAF represents a direct in-sector emission reduction.

• Production and delivery infrastructure ready today.

• Works on current aircraft and infrastructure as it complies to the same standards as fossil jet fuel. Therefore no need to design or build new aircraft or set up a parallel fuel infrastructure, like you need to with hydrogen powered or electric planes.

Impact

• Lowers greenhouse gas (GHG) emissions - up to 80% compared to conventional fossil jet fuel over the fuel’s lifecycle*

• Neste MY SAF™ is additional to regulatory SAF use making an impact above mandatory requirements.

• Delivers additional climate benefits with reduced non-CO₂ emissions.

Credibility

• Credible and reportable emission reductions, Neste's SAF solution is End-to-End audited by a 3rd party auditor, ensuring against double claiming.

• Aligned with the aviation guidance of Science Based Targets, Neste's transaction model is verified by PwC.

• Neste ensures the sustainability of its entire renewable fuel production chain with certifications, e.g. ISCC, International Sustainability & Carbon Certification and RSB, Roundtable on Sustainable Biomaterials.

• In the United States, the sustainability of Neste’s renewable fuels is monitored through the Environmental Protection Agency's (EPA) sustainability requirements.

Why is the Victor x Neste Partnership Unique?

This pioneering Victor x Neste partnership is groundbreaking because it allows SAF demand to scale (not limiting the purchase of SAF to specific airports) and is aligned with Science Based Targets (not futures).

The business aviation sector’s infrastructure is fragmented - according to WingX in 2021 there were 803,708 flights from 3,987 airports - it therefore requires an innovative solution to offer SAF at scale. It would negate the carbon reduction potential of SAF if small amounts of fuel had to be physically transported to each individual airport.

Until now, as SAF has only been available at a few airports or via purchasing ‘future SAF’ credits, there hasn’t been a credible SAF solution for the on-demand jet charter business sector that is aligned with Science Based Targets and the ability to reach Net Zero by 2050.

Pay here, use there

Victor’s private and corporate members can reduce their carbon dioxide emissions (CO₂e) of their booking with a clear chain-of-custody. Neste ensures specific SAF volumes purchased by Victor members are delivered to partner aircraft operators, providing real in-sector climate benefits.

• Victor members will not charter using the Neste MY SAF™ they have purchased for their own flight, however their SAF contribution will ensure another in-sector partner flight benefits from a carbon emission reduction by the amount purchased, ensuring this partnership is aligned with Science Based Targets.

• At checkout during the booking process, all Victor members can now easily choose how much fossil fuel they want to replace with Neste MY SAF™, from as little as 5% up to 100%.

• The Victor member’s charter booking receipt will itemise exactly how much Neste MY SAF™ the Victor member has purchased.

• To avoid any confusion in case of changes (for instance to the exact aircraft booked, the flight itinerary, or a cancellation), Neste will only deliver the SAF purchased by the Victor member to their partner airline after the Victor member's flight has fully flown.

• Neste will then send a Delivery Confirmation stating the carbon dioxide emission reduction, which can be used for science-based reporting by the Victor member.

Neste MY Sustainable Aviation Fuel™ and Science Based Targets

The partnership between Victor and Neste has been developed following the Science-based target setting for the aviation sector guidance (v1.0 August 2021) by SBTi and the solution is end-to-end audited.

• With a clear chain-of-custody, Neste ensures specific SAF volumes to the Victor members

• To provide real climate benefits and GHG reductions, SAF delivered is additional to any existing mandates, and exclusive of regulatory incentives to achieve maximum atmospheric benefits

• It is ensured that SAF is not double-counted, More on the Science Based Targets

About Neste

Neste has an annual production capacity of 100,000 tons of SAF but is currently expanding its global SAF production capacity to 1.5 million tons of SAF annually by the end of 2023. That’s roughly 1.875 billion litres of SAF.

Neste is rapidly expanding its capabilities to supply SAF globally as the aviation industry requires an immediate global SAF solution to tackle the global emission problem. Neste will be able to deliver Neste MY SAF™ to an expanding number of locations and airlines across the world, displacing conventional fossil fuel use directly in the aviation supply chain and realising your emission reductions.

Download our pdf Booklet on the Victor x Neste Partnership

Watch SAF 101 - Forging a Sustainable Future for Aviation webinar