Neste Corporation, Press Release, 7 November 2022 at 1.00 p.m. (EET)
CargoAi, air cargo’s fastest growing digital solutions provider, and Neste, the world’s leading producer of sustainable aviation fuel (SAF), announce a pioneering partnership which enables freight forwarders and their clients to significantly reduce the carbon emissions of their cargo transport through the purchase of Neste MY Sustainable Aviation Fuel™. Freight forwarders arrange transportation for the cargo of other companies and play a pivotal role in reducing the carbon emissions associated with such cargo transports.
As of November 2022 onwards, CargoAi offers the possibility to purchase Neste MY Sustainable Aviation Fuel when booking a cargo transport. This can be done in the booking flow - either after a booking is confirmed or when the cargo is being tracked. This complements CargoAi’s Cargo2ZERO sustainability offering launched in October 2022. The use of sustainable aviation fuel significantly reduces greenhouse gas emissions from air transport. Purchasing Neste-produced SAF helps companies meet their climate targets and credibly report their CO2e emissions reductions.
“We are proud of this landmark partnership with Neste, as sustainability is at the core of all our product developments and customer interactions. Building on the CO2 Efficiency Score already available in our Cargo2ZERO solution, will further encourage forwarders to enter into discussions with their own clients about what is needed for the industry to move forward towards reaching the industry’s Net Zero targets together. We are also enabling access for smaller freight forwarding companies in 110 countries to purchase SAF in smaller quantities,” says Matthieu Petot, CEO of CargoAi.
“I am excited to announce this pioneering partnership between Neste and CargoAi. Working with an innovative and industry-leading partner such as CargoAi allows us to accelerate and broaden the utilization of sustainable aviation fuel into new markets. Through this partnership, Neste MY Sustainable Aviation Fuel is made available to CargoAi customers for any cargo booking to reduce the emissions of their shipment while utilizing CargoAi’s innovative digital booking platform. We are very proud of our partnerships with like-minded organizations sharing the same commitment to a more sustainable future for aviation,” said Jason Reichow, Vice President Business Development, Renewable Aviation, at Neste.
How the CargoAi x Neste offering works
During the booking or tracking phase, freight forwarders will automatically be prompted with data of the CO2 emissions that their shipment will emit, calculated based on IATA standards. They will then have an option to purchase varying percentages of SAF to reduce emissions. Neste ensures the purchased SAF volumes are delivered and used by partner aircraft operators. The emission reductions achieved will be reported back and can be used to credibly report against sustainability targets.
“We designed Cargo2ZERO as a suite of solutions for integrating and accelerating climate action into the air freight procurement process. Purchasing SAF remained until now a hard-to-navigate, resource-intensive process and often required purchases of large volumes, which made reducing emissions at the transactional level very difficult. With the direct purchase of SAF now embedded in the booking execution and tracking flows, we're taking the next steps to empower climate action by offering our clients straightforward, user-friendly and verifiable means to ensure reduced emissions. We are extremely delighted about this landmark partnership with Neste and confident that this will enable clients of any size to take effective climate action without further delay,” says Magali Beauregard, Chief Commercial Officer of CargoAi.
Sustainable aviation fuel has been widely acknowledged as a key element in helping to reach aviation’s ambitious goal of net-zero carbon emissions by 2050. Using Neste MY Sustainable Aviation Fuel reduces greenhouse gas (GHG) emissions by up to 80%* over the fuel’s life cycle compared to using fossil jet fuel. It is produced from sustainably sourced, 100% renewable waste and residue raw materials, such as used cooking oil and animal fat waste. Neste MY Sustainable Aviation Fuel is a drop-in fuel that can be used within existing aircraft engines and airport fuel infrastructure, and is already available today.
*) When used in neat form (i.e. unblended) and calculated with established life cycle assessment (LCA) methodologies, such as CORSIA methodology
Vice President, Communications
Neste: Please contact Neste’s media service, tel. +358 800 94025 / email@example.com (weekdays from 8.30 a.m. to 4.00 p.m. EET). Please subscribe to Neste’s releases at https://www.neste.com/for-media/releases-and-news/subscribe.
CargoAi: Please contact CargoAi via email: firstname.lastname@example.org
Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. We refine waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. We are the world’s leading producer of sustainable aviation fuel and renewable diesel and developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce their greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. Our ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in Europe by 2030. We are introducing renewable and recycled raw materials such as liquefied waste plastic as refinery raw materials. We have committed to reaching carbon-neutral production by 2035, and we will reduce the carbon emission intensity of sold products by 50% by 2040. We also have set high standards for biodiversity, human rights and supply chain. We have consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world’s most sustainable companies. In 2021, Neste's revenue stood at EUR 15.1 billion. Read more: neste.com
Launched in 2019, CargoAi is on a mission to bring the best available technologies to airfreight. Cloud native and with an API-first architecture, the company is closing the technology gap and driving the enablement of an efficient and connected airfreight ecosystem.
CargoAi offers a complete range of digital air cargo solutions to freight forwarders including a SaaS booking application available either as a marketplace (CargoMART) or an API Suite (CargoCONNECT) that integrates directly into TMS and ERP systems; while airlines and GSAs can leverage CargoGATE to accelerate their digital adoption. These are complemented by AI-powered cargo business intelligence reports (CargoINTEL) and integrated sustainability solutions (Cargo2ZERO) that span the entire portfolio.
Using the CargoAi solutions, forwarders are empowered to drive every stage of the air freight procurement process with greater efficiency and visibility- from planning, booking, and executing shipments right through to monitoring cargo deliveries. The gains in efficiency, customer reach and business opportunities directly translate to top and bottom-line impact for carrier partners.
Highly acclaimed at Air Cargo India 2022 in the “Innovative Logistics Solutions in Air Cargo” category, the airfreight’s fastest growing digital enabler also won the “Digital Innovation Award” granted by Air Cargo News in the same year. CargoAi is headquartered in Singapore with teams in all continents.
For more information about CargoAi, visit www.cargoai.co