Nova Pangaea Receives Investment from International Consolidated Airlines Group

Nova Pangaea (Holdings), a direct investment of Mercia Asset Management, has recently secured an investment from International Consolidated Airlines Group (IAG). While the exact amount remains undisclosed, this investment is a crucial step for IAG as it aims to incorporate 10% sustainable aviation fuel in its jets by 2030.

This investment by IAG further highlights the promise of Nova Pangaea’s technology and signifies the company’s commitment towards a more sustainable aviation industry. Notably, Nova Pangaea’s upcoming production facility will be the first of its kind in the United Kingdom.

Mark Payton, Chief Executive of Mercia Asset Management, expressed his enthusiasm for this significant development. He stated, “This is a terrific endorsement for the exciting potential of Nova Pangaea’s technology. Nova Pangaea’s factory will be the first of its kind in the U.K., and we are proud to be invested in a company that is not only helping the transition to a more sustainable aviation industry but also creating new employment opportunities in the North-East.”

The positive impact of this investment is reflected in the stock market as well. At 0800 GMT, shares of Mercia had risen by 0.20 pence (0.8%) to reach 26.30 pence, while IAG shares witnessed a growth of 0.10 pence (0.07%) to reach 153.20 pence.