The Global Sustainable Fuel Market is projected to reach USD 113.5 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 24.8% from 2023 to 2028. This explosive growth is fueled by stringent global carbon reduction targets, supportive government policies, and accelerating demand for low-carbon energy solutions across the transportation sector, particularly in aviation, maritime, and heavy road transport.

As the world transitions toward a net-zero future, the focus intensifies on the pioneering companies developing and scaling sustainable fuel technologies. This blog profiles the Top 10 Companies in the Sustainable Fuel Industry—a dynamic mix of biofuel producers, energy majors, and technology innovators who are building the foundation for a cleaner energy ecosystem.

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🔟 1. Neste Corporation

Headquarters: Espoo, Finland
Key Offering: Neste MY Renewable Diesel, Neste MY Sustainable Aviation Fuel™

Neste is the world’s leading producer of renewable diesel and sustainable aviation fuel (SAF) refined from waste and residue raw materials. Its proprietary NEXBTL technology enables the production of high-quality drop-in fuels that are chemically identical to fossil fuels, requiring no modifications to existing engines or infrastructure.

Sustainability Initiatives:

• Current renewable products capacity: 3.3 million tons annually

• Target to increase SAF production to 1.5 million tons per year by the end of 2024

• Aiming to help customers reduce greenhouse gas emissions by at least 20 million tons annually by 2030

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9️⃣ 2. World Energy (United States)

Headquarters: Boston, Massachusetts, USA
Key Offering: Renewable Diesel, Sustainable Aviation Fuel (SAF)

World Energy operates one of the world’s first and longest-running commercial-scale sustainable fuel production facilities in Paramount, California. The company is a key supplier of low-carbon fuels to the California market and is expanding its production capabilities to meet growing demand for clean transportation energy.

Sustainability Initiatives:

• Investing over $2 billion to convert its Paramount facility to produce 100% sustainable aviation fuel

• Partnerships with major airlines including United Airlines and JetBlue for SAF supply

• Committed to achieving net-zero carbon emissions by 2040

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8️⃣ 3. Gevo, Inc.

Headquarters: Englewood, Colorado, USA
Key Offering: Alcohol-to-Jet (ATJ) Sustainable Aviation Fuel, renewable gasoline

Gevo is a renewable fuels and chemicals company focused on transforming renewable energy into energy-dense liquid hydrocarbons. Its patented technology converts corn-based ethanol and cellulosic sugars into drop-in sustainable aviation fuel and renewable gasoline with a significantly reduced carbon footprint.

Sustainability Initiatives:

• Developing Net-Zero 1 project, a commercial-scale SAF production facility

• Lifecycle greenhouse gas emissions reduction of over 70% compared to conventional jet fuel

• Carbon-negative fuel production through sustainable farming practices and carbon sequestration

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7️⃣ 4. Fulcrum BioEnergy (United States)

Headquarters: Pleasanton, California, USA
Key Offering: Sustainable Aviation Fuel from municipal solid waste

Fulcrum BioEnergy has developed a proprietary process to convert household garbage into renewable transportation fuels, primarily sustainable aviation fuel. The company’s Sierra BioFuels Plant in Nevada is North America’s first commercial-scale waste-to-fuels facility.

Sustainability Initiatives:

• Diverting hundreds of thousands of tons of waste from landfills annually

• Reducing lifecycle carbon emissions by more than 80% compared to conventional jet fuel

• Multi-billion dollar SAF offtake agreements with major airlines including United Airlines and Cathay Pacific

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6️⃣ 5. LanzaTech Inc.

Headquarters: Skokie, Illinois, USA
Key Offering: CarbonSmart™ ethanol, Sustainable Aviation Fuel via alcohol-to-jet

LanzaTech has pioneered carbon capture and transformation technology that converts waste carbon emissions into sustainable fuels and chemicals. Their proprietary biological process uses specialized bacteria to ferment industrial off-gases into valuable products, creating a circular carbon economy.

Sustainability Initiatives:

• Commercial plants operating in China converting steel mill emissions to ethanol

• Partnerships with airlines including Virgin Atlantic for waste-gas-to-jet-fuel production

• Technology capable of reducing greenhouse gas emissions by over 70% compared to conventional fuels

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5️⃣ 6. Velocys (UK)

Headquarters: Oxford, United Kingdom
Key Offering: Fischer-Tropsch synthetic paraffinic kerosene (FT-SPK) for aviation

Velocys enables accelerated deployment of sustainable fuels through its integrated technology solution. The company’s microchannel reactor technology and catalyst systems significantly improve the efficiency of the Fischer-Tropsch process for converting waste biomass into sustainable aviation fuel and other renewable fuels.

Sustainability Initiatives:

• Developing the Altalto project in the UK to convert hundreds of thousands of tons of waste into SAF

• Proprietary technology delivers higher conversion efficiencies and smaller plant footprints

• Targeting over 70% reduction in lifecycle greenhouse gas emissions compared to conventional jet fuel

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4️⃣ 7. SkyNRG (Netherlands)

Headquarters: Amsterdam, Netherlands
Key Offering: Sustainable Aviation Fuel supply and consulting services

SkyNRG is a global market leader for sustainable aviation fuel, supplying SAF to over 40 airlines worldwide. The company operates across the entire SAF value chain, from sourcing sustainable feedstocks to fuel distribution and sustainability certification.

Sustainability Initiatives:

• Developing dedicated SAF production plants in Europe and North America

• Founding member of the Sustainable Aviation Fuel Coalition advocating for supportive policies

• Implemented robust sustainability certification system approved by Roundtable on Sustainable Biomaterials (RSB)

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3️⃣ 8. Red Rock Biofuels

Headquarters: Fort Collins, Colorado, USA
Key Offering: Renewable jet fuel, diesel, and naphtha from forest residues

Red Rock Biofuels uses Fischer-Tropsch technology to convert waste woody biomass into renewable transportation fuels. The company’s first commercial facility in Oregon is designed to process approximately 175,000 dry tons of woody biomass annually into renewable fuels.

Sustainability Initiatives:

• Utilizing forest residues that would otherwise contribute to wildfire risk

• Reducing lifecycle greenhouse gas emissions by 80-90% compared to petroleum-based fuels

• Long-term fuel offtake agreements with Southwest Airlines and FedEx

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2️⃣ 9. Aemetis, Inc.

Headquarters: Cupertino, California, USA
Key Offering: Renewable natural gas, renewable diesel, sustainable aviation fuel

Aemetis is a renewable natural gas and renewable fuels company focused on negative carbon intensity products. The company’s “Carbon Zero” production process uses renewable hydrogen and non-edible vegetable oils to produce sustainable aviation fuel and renewable diesel with negative carbon intensity.

Sustainability Initiatives:

• Developing a $2 billion, 90 million gallon SAF and renewable diesel plant in California

• Capturing methane from dairy farms to produce renewable natural gas

• Targeting negative carbon intensity through carbon sequestration and renewable hydrogen

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1️⃣ 10. Eni (Italy)

Headquarters: Rome, Italy
Key Offering: HVO (Hydrotreated Vegetable Oil) biofuels, Sustainable Aviation Fuel

Eni has transformed several of its conventional refineries into bio-refineries capable of producing high-quality biofuels from biological raw materials. The company’s Venice and Gela bio-refineries in Italy produce HVO diesel and are being expanded to include sustainable aviation fuel production.

Sustainability Initiatives:

• Aiming to increase bio-refining capacity to 5-6 million tons per year by 2030

• Developing advanced biofuels from waste feedstocks and algae

• Committed to achieving net-zero carbon emissions by 2050

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🌍 Outlook: The Future of Sustainable Fuel Is Scaling and Innovation

The sustainable fuel market is experiencing unprecedented growth as technology advancements, policy support, and corporate sustainability commitments converge. While production volumes are still small compared to conventional fuels, the industry is rapidly scaling to meet ambitious climate targets.

📈 Key Trends Shaping the Market:

• Expansion of feedstock diversity including waste oils, agricultural residues, and captured carbon

• Increasing blending mandates and carbon pricing mechanisms driving demand

• Technological innovations improving conversion efficiencies and reducing costs

• Growing corporate offtake agreements providing market certainty for producers

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Global and Regional Sustainable FuelMarket – View in Detailed Research Report

The companies profiled above are not only developing sustainable fuel solutions—they’re building the infrastructure for a circular carbon economy that will power transportation for decades to come.