Syzygy Plasmonics has signed a framework agreement with the International Finance Corporation, the World Bank Group’s private sector arm. The deal will support a pipeline of sustainable aviation fuel projects across Latin America. Under the agreement, IFC will provide technical and commercial advisory services as Syzygy develops individual projects in the region.
The first project under the framework is NovaSAF-1, a planned commercial-scale facility in Durazno, Uruguay. It will mark the first commercial deployment of Syzygy’s technology, which uses renewable electricity to power light-driven reactors that convert biogas into sustainable aviation fuel.
Unlike conventional processes that rely on fossil-fuel heat, Syzygy’s approach runs entirely on renewable electricity. The company estimates this can cut lifecycle greenhouse gas emissions by up to 90% compared with conventional jet fuel.
Raphaël Eskinazi, IFC’s regional investment manager for manufacturing and forests in Latin America and the Caribbean, said the partnership is designed to help scalable, lower-carbon technologies mobilize private capital and demonstrate viable business models in emerging markets. Trevor Best, Syzygy’s co-founder and chief executive, said IFC’s involvement signals confidence in the company’s technology, project pipeline and commercial agreements.
Syzygy’s expansion is already underpinned by several deals. Trafigura has signed a binding offtake agreement for NovaSAF-1’s full production, while Trafigura and World Fuel Services have made capacity reservation agreements for future facilities. The company has also secured feedstock agreements with Estancias del Lago and Geo Bio Gas & Carbon.
These agreements support Syzygy’s longer-term goal of reaching up to one million metric tons of annual SAF production capacity in Brazil by 2035.
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