Synhelion, a Swiss solar-to-fuels startup, has signed a five-year fuel offtake agreement with the Swiss transportation company, Lake Lucerne Navigation Company (SGV).

Under the agreement, SGV will purchase nearly 100 tons of solar fuel annually from Synhelion's RISE plant in Spain, starting in 2027, to power its historic steamboats on Lake Lucerne. The plant is expected to produce 1,000 tons of solar fuel per annum, including solar kerosene, solar gasoline, and solar diesel. This makes SGV the first shipping company to use Synhelion's solar fuel, allowing it to switch to renewable energy without modifying its engines.

Analyst QuickTake: In June 2024 , the company launched DAWN, the world's first industrial-scale plant, to produce synthetic fuels from solar heat in Jülich, Germany. The DAWN plant is expected to be operational in 2024 and produce several thousand liters of solar fuels per year. In the same month, Synhelion partnered with Pilatus Aircraft , a Swiss aircraft manufacturer, to use Synhelion’s solar fuels in its operations and offer them to its customers in the future.