Vegreville, Alberta--(Newsfile Corp. - September 11, 2025) - Provectus Biofuels Inc. (the "Company" or "Provectus") today announced the Company has signed a non-binding letter of intent with a regional Alberta airport that sets out indicative terms under which both parties intend to negotiate a definitive long-term offtake agreement for renewable sustainable aviation fuel produced from Provectus' Dobrojet Biofuels facility once operational.
The letter of intent is for the offtake of up to10 ML of renewable jet fuel conforming to ASTM D1655 (or a successor standard) and fully certified for use as Jet A-1 after blending, meeting all additive and quality requirements applicable at the time of delivery. This represents 10% of the total projected production capacity at Provectus' planned Dobrojet Biofuels facility that is to be sited in Vegreville, Alberta. Deliveries are expected to commence in 2029.
"Forward thinking airports and airlines, that are aware of the impact of global regulations and the current constraints on renewable sustainable jet fuel supply, recognize the urgent need to secure low-carbon aviation fuel for their future fuel supply portfolio," said Jon Jaque, CEO of Provectus. "The growth in low-carbon aviation fuel volumes under binding contract continue to outpace the addition of actual production capacity globally. As the growing gap between supply and demand causes the price premium on forward volumes to expand further, we expect to add additional offtake agreements to our portfolio."
In 2024, the International Air Transport Association ("IATA") reported binding contracts for 16.25 billion litres of sustainable aviation fuel for delivery in 20301. As of June 1, 2025, only 2.5 billion litres of sustainable aviation fuel was expected to be produced globally in 20252. The growing gap between supply and demand is contributing to the 14.8% year-over-year growth in the premium for low-carbon aviation fuel from 2.7 times the cost regular jet fuel in 2024 to 3.1 times in 2025 as reported by IATA1,3.
- IATA Annual Review 2024 - Report here
- Policy Shortcomings Puts SAF Production at Risk - June 1, 2025 News Release
- IATA Annual Review 2025 - Report here
Advisories
This document contains forward-looking statements. More particularly, this document contains statements concerning: the expected completion of a contract for renewable sustainable aviation fuel produced at Provectus' proposed Dobrojet biofuels facility in Vegreville, Alberta; the successful commissioning of the Dobrojet biofuels facility; the expected date deliveries of jet-fuel are to commence; the production of jet fuel from the Dobrojet facility conforming to the relevant ASTM standards; and the signing of additional offtake agreements for renewable sustainable jet fuel. Readers are cautioned that the foregoing list should not be construed as exhaustive. Other forward-looking statements can be recognized by the use of the words "anticipate", "estimate", "expect", "will", "should", "believe", "intend", and similar expressions.
The forward-looking statements in this document involve known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Provectus believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.
While the information herein is believed to be accurate and reliable, Provectus and its agents, advisors, directors, officers, employees and shareholders make no representation or warranties, expressed or implied, as to the accuracy or completeness of such information and Provectus expressly disclaims any and all liability that may be based on such information or errors or omissions thereof. Any forward-looking statements are made as of the date hereof and Provectus does not undertake any obligation, except as required under applicable law, to publicly update or revise such statements to reflect new information, subsequent or otherwise
About Provectus Biofuels
Provectus Biofuels Inc. is dedicated to advancing sustainable energy solutions through innovative biofuel technology. The company focuses on converting unutilized biomass, including agricultural residues and forest byproducts, into low-carbon renewable liquid fuels such as Renewable Jet Fuel, gasoline, and renewable diesel. Provectus Biofuels collaborates with industry leaders, government agencies, and Indigenous partners to support Canada's transition to cleaner energy sources while creating economic opportunities in rural and resource-based communities.
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