(L-R) FlyORO Co-Founders Joe Ng, Genevieve Toh, and Jonathan Yeo
Singapore’s home-grown startup FlyORO, a provider of last-mile sustainable aviation fuels (SAF) blending technologies, recently completed its US$1.6 pre-Series A investment round with Audacy Ventures, Investible and several undisclosed investors.
The primary plan is to spread its wings to new international markets, such as Australia and the US.
In this Q&A, FlyORO’s Co-Founder and Head of Marketing and PR, Genevieve Toh, discusses how FlyORO is navigating regulatory landscapes, its upcoming Series A financing, Australian market collaboration plans, and the impact of FlyORO’s on-demand blending service on ESG targets.
Edited excerpts:
Can you elaborate on FlyORO’s strategy for international expansion, particularly in Australia and the US, and how the funding from the pre-Series A round will support these initiatives?
In our pursuit of international expansion, FlyORO has outlined a targeted strategy primarily focusing on Australia and the US in 2024. The objective is strategically identifying blending hubs or locations in these countries, ensuring convenient access for flyers to SAF blending capabilities.
Also Read: FlyORO secures US$1.6M in pre-Series A round to reduce flight emissions
The pre-Series A capital will be allocated to critical business activities that form the backbone of our international presence. A significant portion will be invested in manufacturing our cutting-edge AlphaLite product, designed to meet the evolving needs of the aviation industry.
AlphaLite empowers aircraft operators to make better-informed decisions regarding SAF adoption, considering factors from cost parity to feedstock quality.
A substantial portion of the funding will also be used for team expansion, which will empower us to support existing project developments and actively cultivate new partnerships.
How does FlyORO collaborate with its investors, particularly Audacy Ventures and Investible, to leverage their expertise and support for your growth plans and technological advancements?
FlyORO’s collaboration with Audacy Ventures and Investible is structured around corporate networking and building a sustainable aviation ecosystem.
1. Corporate network: Through collaborative efforts, we leverage their market expertise, tapping into their extensive industry networks, to work closely with the relevant advocates and critical decision-makers.
2. Building a sustainable aviation ecosystem: Together, we aim to build a comprehensive and interconnected sustainable aviation ecosystem. We foster collaborative innovation by harnessing their experience and leveraging their existing portfolio, including startups with cross-industry expertise. This enhances FlyORO’s technological advancements and contributes to developing holistic solutions for the aviation industry.
How has the collaboration with Jet Aviation, leading to the launch of AlphaLite in April 2023, impacted FlyORO’s positioning in the aviation industry, and what milestones have been achieved since then?
Jet Aviation, as a renowned business aviation provider, has showcased the capabilities of FlyORO’s solution to the industry. This partnership has positioned the SAF industry with new opportunities for SAF adoption.
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Since the launch of AlphaLite in April 2023, FlyORO has worked closely with Jet Aviation in its sustainability developments and ventured into the commercial aviation sector. These include engagements with other industry players, furthering the adoption of sustainable practices and contributing to the broader mission of reducing the carbon footprint in aviation.
How does FlyORO navigate and leverage the regulatory landscape in Singapore and its target markets, especially in Australia and the US, to facilitate the adoption of SAF?
We leverage the insights and experiences gained during the Singapore launch and our team of trusted senior industry advisors, enabling our engineering team to be better equipped to handle similar challenges in other regions. Although regulatory frameworks may differ across organisations and countries, the procedural aspects share substantial similarities in ensuring the highest quality and safety standards.
FlyORO plans to commence the next financing round in H2 2024. How much do you intend to raise? What are the key objectives and milestones that you aim to achieve with the upcoming financing round?
FlyORO plans to scale both hardware and software refinements. This includes further development and enhancement of the AlphaLite product and advancements in the technology infrastructure supporting its sustainable aviation solutions.
Given the Australian market’s focus on developing a local SAF production facility, does FlyORO have plans to collaborate or establish partnerships with local entities to enhance the production and distribution of sustainable aviation fuels in the region?
While maintaining our focus on accelerating SAF adoption on a global scale, FlyORO recognises the significance of Australia’s vast natural resources. As part of our mission, we intend to establish partnerships with local entities involved in SAF production. This approach extends to working closely with producers utilising different feedstocks, operating in diverse locations, and employing various production pathways.
By forging alliances with local producers, we aim to maximise supply chain efficiencies and contribute to the Australian market’s growth and sustainability of the SAF industry.
How does FlyORO’s on-demand blending service contribute to the aviation industry’s broader goals in terms of environmental, social, and governance (ESG) targets, and what impact does it have on individual flight emissions reduction?
FlyORO’s innovative on-demand blending technology has multifaceted impacts at the industry level and on individual flight emissions reduction.
In the commercial aviation sector, we support both the Book & Claim and Mass Balancing approaches, depending on the characteristics of the market. This empowers flyers to offset their carbon emissions using SAF voluntarily, and we consolidate these demands through our blending hubs. By facilitating this voluntary adoption of SAF, FlyORO contributes to reducing overall carbon footprints in the aviation industry.
FlyORO’s on-demand blending service offers a unique business and general aviation advantage. Flyers, both individuals and corporates can decide their SAF adoption ratio, allowing for a more individualised approach to emissions reduction. This flexibility empowers flyers to reduce their carbon footprint and meet their ESG targets proactively.
Can you share insights into any upcoming innovations or advancements in FlyORO’s technology roadmap, especially with regard to modular SAF blending services?
One of FlyORO’s key objectives is to enhance blending efficiencies as a technological enabler. The modularity of the technology allows our solution to fit at any point of the supply chain. This includes streamlining and optimising the SAF supply chain to make the blending process more efficient, cost-effective, and scalable. Improving efficiencies contributes to a more sustainable and economically viable SAF production model.
Also Read: FlyORO wants to decarbonise aviation with its last-mile sustainable fuel blending tech
FlyORO also aims to play a pivotal role in advancing the adoption of higher blends of SAF. This involves pushing the boundaries of SAF usage to achieve higher concentrations in synthetic blend components, contributing to more substantial reductions in carbon emissions.
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Image Credit: FlyORO
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