The Global Fischer-Tropsch Synthetic Paraffinic Kerosene (FT-SPK) Market was valued at USD 2.26 Billion in 2025 and is projected to reach USD 4.80 Billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 11.7% during the forecast period (2024–2034). This robust expansion is driven by the aviation industry’s urgent decarbonization mandates, stringent regulatory frameworks like ReFuelEU Aviation, and significant technological advancements that are reducing production costs and enhancing the viability of FT-SPK as a drop-in Sustainable Aviation Fuel (SAF).

As the global push for net-zero emissions accelerates, the spotlight is on the pioneering companies developing and scaling Fischer-Tropsch technology. This process converts synthesis gas from diverse feedstocks—including biomass, natural gas, and captured carbon—into high-purity synthetic jet fuel. In this blog, we profile the Top 10 Companies in the Fischer-Tropsch Synthetic Paraffinic Kerosene Market—a dynamic mix of established energy giants, specialized technology firms, and innovative biofuel pioneers who are charting the course for cleaner skies.

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🔟 1. Shell plc

Headquarters: London, United Kingdom
Key Offering: Gas-to-Liquids (GTL) FT-SPK, Sustainable Aviation Fuel (SAF)

Shell is a global leader in Fischer-Tropsch technology, leveraging decades of experience from its Pearl GTL plant in Qatar, one of the world’s largest such facilities. The company is now actively pivoting its expertise towards sustainable applications, focusing on producing FT-SPK from renewable feedstocks. Shell’s strategic partnerships with major airlines and airports are crucial for integrating these advanced fuels into the global supply chain.

Sustainability Initiatives:

• Investment in Power-to-Liquid (PtL) pathways using green hydrogen and captured CO2

• Multi-year SAF supply agreements with carriers like Delta Air Lines and JetBlue

• Target to produce around 2 million tonnes of SAF per year by 2025

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Fischer-Tropsch Synthetic Paraffinic Kerosene Market – View in Detailed Research Report

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9️⃣ 2. Sasol

Headquarters: Johannesburg, South Africa
Key Offering: Coal-to-Liquids (CTL) FT-SPK, Gas-to-Liquids (GTL) FT-SPK

Sasol is a world-renowned expert in Fischer-Tropsch synthesis, operating some of the most extensive commercial CTL and GTL facilities globally. The company’s deep process knowledge and integrated operations position it as a key player in producing synthetic fuels. Sasol is increasingly focusing on decarbonizing its production processes and exploring biomass and waste feedstocks to produce sustainable FT-SPK.

Sustainability Initiatives:

• Development of green hydrogen projects to decarbonize existing FT operations

• Research into co-processing sustainable feedstocks at its Secunda CTL plant

• Commitment to reduce greenhouse gas emissions by 30% by 2030

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8️⃣ 3. Chevron Corporation

Headquarters: San Ramon, California, USA
Key Offering: FT-SPK, Renewable Fuels, Traditional Jet Fuel

Chevron is a major energy player investing in lower-carbon fuel technologies, including Fischer-Tropsch pathways. Through its Chevron New Energies division, the company is exploring opportunities in hydrogen and carbon capture, which are critical enablers for next-generation FT-SPK production. Chevron’s extensive refining and distribution network provides a significant advantage for bringing synthetic fuels to market.

Sustainability Initiatives:

• Investment in carbon capture, utilization, and storage (CCUS) technology

• Partnerships with universities and tech startups on advanced biofuel R&D

• Aim to grow renewable fuel production capacity to 100,000 barrels per day by 2030

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7️⃣ 4. Velocys plc

Headquarters: Oxford, United Kingdom
Key Offering: Integrated FT-SPK technology, Sustainable Fuel Projects

Velocys is a specialized technology company focused on providing integrated Fischer-Tropsch solutions for producing sustainable fuels from waste feedstocks. Its proprietary microchannel reactor technology offers higher efficiency and smaller footprint compared to traditional FT systems, making it suitable for decentralized, smaller-scale plants that convert municipal solid waste into FT-SPK.

Sustainability Initiatives:

• Development of the Altalto Immingham project in the UK, converting waste to jet fuel

• Partnership with Southwest Airlines to develop SAF projects in the United States

• Focus on enabling circular economy solutions for the aviation sector

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Fischer-Tropsch Synthetic Paraffinic Kerosene Market – View in Detailed Research Report

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6️⃣ 5. Fulcrum BioEnergy, Inc.

Headquarters: Pleasanton, California, USA
Key Offering: Waste-to-Liquids FT-SPK (Bio-SPK)

Fulcrum BioEnergy is a pioneer in converting municipal solid waste into low-carbon, synthetic crude oil via gasification and Fischer-Tropsch synthesis, which is then upgraded to FT-SPK. The company’s Sierra BioFuels Plant is one of the first commercial-scale waste-to-fuels facilities in North America, positioning Fulcrum at the forefront of the bio-FT segment.

Sustainability Initiatives:

• Long-term SAF offtake agreements with major airlines including United Airlines and Cathay Pacific

• Plans to develop multiple waste-to-fuels facilities across North America

• Focus on reducing lifecycle GHG emissions by over 80% compared to conventional fuel

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5️⃣ 6. PetroSA (Petroleum Oil and Gas Corporation of South Africa)

Headquarters: Cape Town, South Africa
Key Offering: Gas-to-Liquids (GTL) FT-SPK, PetroSA Synjet

PetroSA operates the Mossel Bay GTL facility, one of the world’s first commercial GTL plants, and has extensive experience in Fischer-Tropsch fuel production. The company produces Synjet, a certified FT-SPK that has been used in commercial aviation. PetroSA plays a strategic role in supporting energy security and developing synthetic fuels expertise within South Africa.

Sustainability Initiatives:

• Exploration of opportunities to integrate carbon capture and green hydrogen into existing GTL operations

• Research into co-feeding biomass-derived syngas to produce bio-FT-SPK

• Participation in national initiatives to develop a green hydrogen economy

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4️⃣ 7. Norsk e-Fuel AS

Headquarters: Oslo, Norway
Key Offering: Power-to-Liquid (PtL) FT-SPK

Norsk e-Fuel is a European pioneer focused exclusively on producing renewable aviation fuel via the Power-to-Liquid pathway. The company’s project in Mosjøen, Norway, will use renewable electricity for electrolysis to produce green hydrogen, which is then combined with captured CO2 and processed through a Fischer-Tropsch unit to create carbon-neutral FT-SPK.

Sustainability Initiatives:

• Development of Europe’s first commercial PtL production plant

• Target to produce 100 million liters of e-kerosene annually by 2026

• Strategic partnerships with industrial players like Paul Wurth and Valinor

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3️⃣ 8. CompactGTL

Headquarters: London, United Kingdom
Key Offering: Modular Fischer-Tropsch Technology, Small-scale GTL

CompactGTL specializes in modular, small-scale Fischer-Tropsch technology designed to monetize stranded or associated gas resources. Their innovative approach makes FT technology economically viable for smaller gas fields, opening new opportunities for distributed production of synthetic fuels, including FT-SPK, in remote locations or at the point of feedstock availability.

Sustainability Initiatives:

• Technology enabling reduction of gas flaring by converting waste gas to valuable liquids

• Designs adaptable for future integration with renewable hydrogen and carbon capture

• Focus on providing low-carbon fuel solutions for decentralized markets

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2️⃣ 9. BP plc

Headquarters: London, United Kingdom
Key Offering: FT-SPK, SAF, Traditional Aviation Fuels

BP, through its Air BP division, is a major global supplier of aviation fuels and is actively advancing its portfolio of sustainable alternatives. The company is investing in and partnering with technology providers across various SAF pathways, including Fischer-Tropsch, to meet the growing demand from its airline customers and comply with emerging regulations.

Sustainability Initiatives:

• Investment in advanced biofuel and e-fuel startups through BP Ventures

• Aim to increase SAF production and increase SAF blending to 20% of jet fuel sales by 2030

• Collaboration with Ørsted on a large-scale green hydrogen project in Germany for e-fuels production

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1️⃣ 10. INFRA Synthetic Fuels GmbH

Headquarters: Munich, Germany
Key Offering: Power-to-Liquid (PtL) FT-SPK Technology and Project Development

INFRA Synthetic Fuels is a German technology and project development company focused on commercializing Power-to-Liquid Fischer-Tropsch processes. The company is developing industrial-scale plants to produce e-kerosene, leveraging Germany’s strong renewable energy capacity and policy support for e-fuels to establish itself as a key player in the European FT-SPK landscape.

Sustainability Initiatives:

• Development of one of Germany’s first industrial PtL plants for e-kerosene production

• Focus on achieving carbon-neutral aviation fuel through the use of renewable power and direct air capture

• Engagement with national and EU initiatives to create supportive regulatory frameworks for e-fuels

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Fischer-Tropsch Synthetic Paraffinic Kerosene Market – View in Detailed Research Report

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🌍 Outlook: The Future of Aviation Fuel is Synthetic and Sustainable

The Fischer-Tropsch Synthetic Paraffinic Kerosene market is at a pivotal juncture, transitioning from a niche technology to a mainstream solution for aviation decarbonization. While today’s market is dominated by large-scale GTL and CTL operations, the future belongs to sustainable pathways leveraging biomass, waste, and renewable electricity.

📈 Key Trends Reshaping the FT-SPK Landscape:

• Accelerated policy support, with EU mandates requiring 5% SAF by 2030 and 63% by 2050

• Rapid cost reduction through technological innovation, with production costs falling by 34% since 2022

• Growing airline commitments, with IATA predicting 2 billion gallons of SAF purchase by 2025

• Expansion into new regions, with Asia-Pacific projected to capture 27% market share by 2037

Get Full Report Here:
Fischer-Tropsch Synthetic Paraffinic Kerosene Market – View in Detailed Research Report

The companies profiled are not only leading the current market—they are engineering the sustainable future of flight, transforming how we power aviation while drastically cutting its environmental impact.