Cosmo Oil Marketing and STARLUX Airlines Sign Basic Agreement Regarding SAF

April 18, 2025
Cosmo Energy Holdings Co., Ltd.
Cosmo Oil Marketing Co., Ltd.
SAFFAIRE SKY ENERGY LLC

Cosmo Oil Marketing Co., Ltd. (hereafter, “Cosmo Oil Marketing”), a subsidiary of Cosmo Energy Holdings, and STARLUX Airlines Co. Ltd. (hereafter, “STARLUX Airlines”) have signed a basic agreement regarding Sustainable Aviation Fuel (SAF) to advance sustainable air transportation. 

The SAF traded under this agreement was commercialized following the receipt of a New Energy and Industrial Technology Development Organization (NEDO) subsidy¹ in 2021, aimed at establishing a supply chain model for SAF production from domestically sourced used cooking oil. It is the first locally made SAF to be mass produced in Japan and has obtained ISCC CORSIA and ISCC EU certifications². These certifications are part of the International Sustainability and Carbon Certification (ISCC) initiative, which recognizes compliance with international standards for sustainable products. The fuel will be produced by SAFFAIRE SKY ENERGY LLC, a joint venture formed by Cosmo Oil Co., Ltd., JGC HOLDINGS CORPORATION, and REVO International Inc., and supplied to STARLUX Airlines at Kobe Airport via the Cosmo Energy Group starting in FY2025.

The Cosmo Energy Group has worked to establish a supply chain to deliver Japan’s first locally made SAF, with the goal of achieving net zero carbon emissions by 2050. The Group is also helping build social momentum through initiatives such as an ongoing pilot program to collect household used cooking oil at service stations for repurposing into SAF feedstock.

Recognizing decarbonization and the realization of a recycling-oriented society as key priorities, the Cosmo Energy Group remains committed to addressing societal challenges and fostering sustainable corporate development. At the same time, the Group will continue to promote the use of SAF in air transportation and contribute to the creation of a sustainable, resource-recycling society.

Comments from Company Representatives

Naoki Takayama, President & Representative Director of Cosmo Oil Marketing:

“We are delighted to contribute to the decarbonization efforts of global airline STARLUX Airlines and its customers through SAF, one of our key decarbonization products. SAF plays an essential role in the decarbonization of the aviation industry, and we are excited to be part of this important initiative. Moving forward, we will continue to support the realization of a decarbonized society, starting with this collaboration, by promoting the use of SAF.”

Takeshi Takada, Representative of SAFFAIRE SKY ENERGY:

“Since 2021, with the support of the Japanese government, the Ministry of Economy, Trade and Industry’s Agency for Natural Resources and Energy, and NEDO, we have been working with JGC HOLDINGS CORPORATION, Cosmo Oil Co., Ltd., and REVO International Inc. to commercialize SAF. I would like to express my sincere gratitude to everyone involved for helping to build a major wave of domestic resource recycling through activities such as ACT for SKY and Fry to Fly.”

Simon Liu, Chief Strategy Officer (CSO) of STARLUX Airlines:

“At STARLUX Airlines, we are committed to our vision of sustainable aviation by consistently embracing innovative technologies and maintaining a strong focus on environmental responsibility. As we expand our passenger and cargo fleet, we actively adopt fuel-efficient, low-carbon-emission models and already use at least 5% SAF in ferry flights for newly manufactured aircraft. Looking ahead, we aim to gradually increase our SAF usage rate and become a leading example of sustainable development in the global aviation industry.”

^{1. NEDO website: https://www.nedo.go.jp/koubo/FF3_100312.html (available in Japanese only)}

^{2. Press release issued on December 13, 2024}

^{Cosmo and SAFFAIRE SKY ENERGY Obtain ISCC CORSIA and ISCC EU Certifications}

^{https://www.cosmo-energy.co.jp/en/information/press/2024/241213-01.html}

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(The official language for Cosmo Energy Group's filings with the Tokyo Stock Exchange and Japanese authorities, and for communications with our shareholders, is Japanese. We have posted English versions of some of this information on this website. While these English versions have been prepared in good faith, Cosmo Energy Group does not accept responsibility for the accuracy of the translations, and reference should be made to the original Japanese language materials.)