London, 6^th November 2023 – Block Aero Technologies and Verifavia SAS are pleased to announce the signing of a Memorandum of Understanding (MOU) to partner on the development of a carbon management digital solution for the aviation industry.

Following several months of collaboration on the topics of sustainable aviation fuel (SAF), blockchain technology, and GHG accounting frameworks, Block Aero has identified use cases not currently being addressed by existing solution providers. Its new Sustainable Commodities Manager will address these gaps in the market and provide SAF production stakeholders, distributors, and airline operators with a best-in-class digital solution to manage the underlying data necessary for immutable certification and accounting of the sustainability benefits for each batch of low carbon fuels from offtake to uplift.

Block Aero’s innovative aviation blockchain platform combines enterprise-grade software applications with document auditing and digital asset management capabilities. Verifavia provides global independent environmental verification, certification and auditing services for aviation (airlines, business jets and helicopters), airports and maritime transport (ports and ships). Together their expertise paves the way for the development of a best-in-class carbon management solution for the aviation industry.

Fuel suppliers and aircraft operators currently lack a way to unite their entire fuel supply chain within a single digital thread. This makes it hard to conduct sustainability audits on SAF purchased for scope 1 offset and to prevent double counting when issuing certificates for scope 3 offsets. It is also difficult to holistically view and certify the effects of scope 1 offsets with SAF alongside the benefits provided by the retirement of older aircraft and introduction of more fuel-efficient models.

Block Aero’s Sustainable Commodities Manager will use blockchain technology to link fuel producers, blenders, suppliers, aircraft operators and auditors together in one shared ecosystem. Fuel records, SAFc and aircraft fleet status will be stored on an immutable ledger, providing participants with an up-to-date, standardized and verifiable view of carbon liabilities and offsets. Business logic describing GHG accounting frameworks and an airline’s unique operating conditions will be layered on top of this common data structure.

Block Aero is currently finalizing discussions with several operators and fuel supply chain stakeholders who will join as pilot project customers, working alongside both Block Aero and Verifavia to define best practices and efficient business processes. Verifavia will provide its independent opinion to align the solution with regulatory and voluntary frameworks. It will feature on the platform as the first registered provider of auditing services.

Mr. Nicholas Duchêne, President of Verifavia, expressed his enthusiasm about the partnership, stating, “SAF usage is at an all-time high, and as is often the case with change of established practice, fresh challenges have arisen. There is a pressing demand for transparent and trustworthy carbon performance data throughout the aviation value chain. We are convinced initiatives such as Block Aero will play a significant role in providing solutions for a more environmentally friendly and sustainable aerospace industry.“

Mr. Todd Siena, Founder & CEO of Block Aero, added, “We are excited to collaborate with Verifavia, a leader in sustainable certification schemes. Our objective is to help airline customers more efficiently implement and monitor SAF offtakes and keep immutable records for the lifecycle of these transactions from feedstock to well and wheel.“

Both Block Aero and Verifavia have formal relationships with recognized international organizations such as the United Nations and ICAO, reinforcing their commitments to sustainable aviation practices and the Sustainable Development Goals (SDGs).