The importance of a sustainable aviation fuels industry to the UK has been underlined by a Humber Bank MP as a huge investment teeters on the edge.

Martin Vickers, who represents Cleethorpes and Immingham - the constituency where Velocys has permission to build a £350 million plant - made the stand in Westminster. It came as a December 18 offer deadline edges closer for a potential takeover, with the Oxford University spin-out having admitted it hasn’t got the cash to continue through 2024.

Despite backing from British Airways and government, the company - with interests in the US as well - has failed so far to attract the huge capital investment required to build at scale.

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Mr Vickers said development of the industry was “crucial for trade, jobs, the quality of our lives, and our environment”.

Speaking after a Parliamentary reception with representatives from trade unions and industry, the Conservative backbencher said ‘I’m calling for more support for production of SAFs in the UK; to create new green jobs, including the Velocys project here in my constituency, and help our country reach net zero by 2050.”

Representatives of the aviation industry, trade unions and politicians were present at the It’s Time to Back SAF launch in the House of Commons. They heard how sustainable aviation fuel made from renewable sources like municipal waste, waste feedstocks or from carbon capture can create new green jobs and help the UK meet its carbon reduction goals. SAF can cut carbon by 70 per cent over the lifecycle of the fuel when compared with normal jet fuel.

GMB Union national secretary, Andy Prendergast, said: “The UK must seize the opportunity to create thousands of new unionised jobs in sustainable aviation fuel. There is potential for seven plants across the country and 60,000 new jobs. We need the government to provide better revenue certainty to enable this investment to happen.”

Velocys has been working on a second potential plant, with the Humber location thought to be favourite for that too. Phillips 66 Humber Refinery is already producing for British Airways, but scale is key with legislation sought to mandate use across airlines globally.

Executive director of Back Heathrow, Parmjit Dhanda, added:: “Hydrogen-powered flight is net zero and is being developed, but that’s still years away. This coming decade will be the SAF decade - all aircraft will use it. It’s a no-brainer, the UK must seize the opportunity to build SAF manufacturing plants and become a SAF exporter, else we will be forced to buy it from Europe or America.”