On Monday, the Federal Aviation Administration (FAA) said it would accept applications for nearly $300 million to fund projects designed to help the aviation industry reach net-zero emissions by 2050.
Applications for $246 million in Sustainable Aviation Fuels (SAF) infrastructure projects and $47 million in low-emission aviation technology projects were being accepted starting Sept. 25, the agency said. The money, part of the Inflation Reduction Act, will fund the new Fueling Aviation’s Sustainable Transition (FAST)-SAF grants focusing on producing, transporting and blending sustainable aviation fuel that will build up regional SAF supply chains and increase SAF use.
“We have a need for speed in this race, and thanks to President Biden’s Investing in America agenda, we have more resources than ever before to accelerate this critical work,” Laurence Wildgoose, FAA Assistant Administrator for Policy, International Affairs and Environment, said. “We look forward to receiving applications that can help accelerate the use of high-integrity SAF and the development of powerful low-emission aviation technologies.”
Officials said FAST-Tech funds will accelerate projects within the aviation technology sector that reduce greenhouse gas emissions, improve aircraft fuel efficiency and increase the usage of sustainable aviation fuel. Eligible projects can come from airports, air carriers, universities, aviation and aerospace companies, state and local governments and nonprofit organizations.
The first round of grant awards is expected in mid-2024. The projects are expected to help the country reach President Joe Biden’s net-zero carbon emissions by 2050 goal.