Anew Facilitates CNX and New Frontier Agreement to Utilize Abated Methane Emissions to Fuel Hypersonic Aircraft
CNX and New Frontier Announce Strategic Partnership to Leverage Abated Methane Emissions to Transform International Travel
CNX Resources Corporation (NYSE: CNX) and New Frontier Aerospace, Inc. (NFA) today announced the companies have entered into an agreement, facilitated by Anew Climate, LLC (Anew Climate), to utilize abated methane emissions to fuel net carbon neutral ground and flight tests of NFA’s hypersonic vertical takeoff and landing aircraft.
NFA is developing next generation aircraft that can deliver passengers and cargo anywhere on the planet ten times faster than today's jets, while CNX is a leader in capturing and processing methane that would have otherwise vented into the atmosphere, resulting in ultra-low carbon intensity natural gas. The two companies are working towards a path to next generation air travel that is carbon neutral well before the airline industry’s 2050 target date. This vision endeavors to bring the world closer together with cargo and passenger flights to any destination on Earth in less than two hours while significantly improving the environmental impact of today’s airliners.
CNX President of New Technologies Ravi Srivastava commented, "Like our recently announced partnerships with Pittsburgh International Airport and Newlight Technologies, this collaboration further demonstrates CNX's unique combination of assets, innovative technologies, and proven operational expertise which is helping to lead the sustainable energy revolution.” Mr. Srivastava continued, “Through this agreement, we are not only abating methane emissions from being emitted to the atmosphere, but we are also transforming the way people will travel in the future in a faster, more environmentally sustainable manner.”
CNX’s carbon negative methane will be sold to New Frontier Aerospace at a premium to conventional natural gas reflecting its low carbon intensity value. The monetary benefit CNX is receiving from NFA for supplying this methane will be used to expand CNX’s methane capture program and create more climate benefit in the future. The methane captured by CNX has a carbon intensity comparable to that of environmental attributes from dairy manure-derived renewable natural gas, one of the lowest negative carbon intensity gas resources available.
NFA CEO Bill Bruner said, “This agreement is a first step in moving from slow, subsonic jets that dump a billion tonnes of CO2 into the atmosphere annually to a fleet of aircraft that are ten times faster with a net carbon negative fuel source. NFA’s advanced propulsion, materials, aerothermal, and autonomous flight technologies will enable safe and affordable high-speed travel for everyone while reducing the airline industry’s carbon impact to zero.”
The agreement between CNX and NFA was enabled by Anew Climate, the leading North American marketer of low carbon intensity renewable fuels and provider of comprehensive climate solutions.
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