About
Advancing Renewable Fuels across North America
Azure is a privately held corporation solely focused on developing renewable fuels to support energy needs and achieve climate change objectives related to the reduction of CO2 emissions generated by hard to abate transportation sectors, including aviation.
The company completed Front-End Engineering and Design (FEED) utilizing industry-leading technology already proven in-service globally, marking a major milestone toward project execution.
The founders of Azure were responsible for True North Renewable Fuels Ltd. which was successfully sold to Federated Co-operatives Limited (FCL) in 2021. Prior to the sale, True North had been advancing the development of a renewable diesel production facility.
Mission
To develop and deliver large-scale renewable fuel production facilities that drive significant CO₂ emissions reduction in the hard to abate transportation sector, specifically aviation.
Vision
To become a leading producer of low carbon fuels for the aviation and heavy haul transportation industries by leveraging North American resources and skillsets.
Meet The Team
MANAGEMENT
Stu brings over 15 years of capital markets expertise with a focus on the Canadian energy sector. He held a series of progressively senior positions at Desjardins before being appointed Managing Director of the firm’s energy investment banking team.
In 2019, Stu joined True North Renewable Fuels Ltd., where he led commercial development, including off-take and feedstock agreements, partnerships, and business strategy, through to the company’s successful sale in 2021. Following this, he co-founded Azure Sustainable Fuels Corp. and served as Chief Financial Officer. In that role, Stu secured more than $60 million in capital, including concessionary government funding, and built the company’s foundation of strategic partnerships.
In July 2024, Stu was appointed President of Azure Sustainable Fuels Corp., where he continues to drive growth, partnerships, and innovation in advancing a renewable fuels industry.
In 2019, Stu joined True North Renewable Fuels Ltd., where he led commercial development, including off-take and feedstock agreements, partnerships, and business strategy, through to the company’s successful sale in 2021. Following this, he co-founded Azure Sustainable Fuels Corp. and served as Chief Financial Officer. In that role, Stu secured more than $60 million in capital, including concessionary government funding, and built the company’s foundation of strategic partnerships.
In July 2024, Stu was appointed President of Azure Sustainable Fuels Corp., where he continues to drive growth, partnerships, and innovation in advancing a renewable fuels industry.
Cheryne brings more than 20 years of accounting and finance experience, with a proven track record of executive leadership in the energy sector. She earned her CA designation in 2005 while articling with KPMG LLP and went on to hold progressively senior roles across a range of oil and gas companies.
From 2010 to 2015, she served as VP Finance and CFO at Orlen Upstream Canada Ltd. (formerly TriOil Resources Ltd.). From 2015 to 2019 Cheryne held senior financial leadership roles, including CFO and Corporate secretary for three years, at Pine Cliff Energy Ltd. In 2020, Cheryne expanded her expertise as an independent consultant, advising companies across various industries on CFO, accounting, and finance functions.
Cheryne joined Azure Sustainable Fuels Corp. in 2021 as Controller, where she led financial reporting, budgeting, and funding processes with strategic partners. In July 2024, she was appointed Chief Financial Officer, bringing her deep financial expertise and leadership to support Azure’s growth and execution of its strategy in renewable fuels.
Paul brings over 30 years of leadership experience spanning both engineered wood products and the Canadian energy industry. Throughout his career, he has consistently led the development and execution of large, complex capital project portfolios, building a reputation for delivering results at scale.
He began his career with Weyerhaeuser Company, executing projects across Canada and the Pacific Northwest. In 2006, Paul joined Shell as Head of Projects at the Scotford Refinery and Chemical plants in Fort Saskatchewan, later moving into Shell Unconventionals where he led teams responsible for designing and executing surface facilities to support exploration and production.
In 2016, Paul became Director of Maintenance Projects at Spectra Energy. Following Spectra’s acquisition by Enbridge in 2017, he oversaw a multibillion-dollar capital project portfolio spanning Liquids and Gas Transmission, Gas Distribution & Storage, and Renewable Energy.
Today, as Chief Operating Officer of Azure Sustainable Fuels, Paul applies his extensive project leadership and operational expertise to drive the development and execution of Azure’s renewable fuels projects.
He began his career with Weyerhaeuser Company, executing projects across Canada and the Pacific Northwest. In 2006, Paul joined Shell as Head of Projects at the Scotford Refinery and Chemical plants in Fort Saskatchewan, later moving into Shell Unconventionals where he led teams responsible for designing and executing surface facilities to support exploration and production.
In 2016, Paul became Director of Maintenance Projects at Spectra Energy. Following Spectra’s acquisition by Enbridge in 2017, he oversaw a multibillion-dollar capital project portfolio spanning Liquids and Gas Transmission, Gas Distribution & Storage, and Renewable Energy.
Today, as Chief Operating Officer of Azure Sustainable Fuels, Paul applies his extensive project leadership and operational expertise to drive the development and execution of Azure’s renewable fuels projects.
Board of Directors
With over 25 years of experience in commodity trading and principal investment activities, Eric is well versed in the oil and gas sector. After an early role in economic consulting for the energy sector, he spent over eight years at Enron Europe in roles of increasing responsibility in trading, asset development, and origination. He then joined Barclays Capital with a team to help establish gas and power trading activities. After a subsequent role setting up Commodities Principal Investments at Citigroup, Eric joined RWE in 2009 to establish the Principal Investments fund.
Eric currently works as Founder and Managing Partner of Polar Rock Energy, an energy focused Principal Investor.
Eric currently works as Founder and Managing Partner of Polar Rock Energy, an energy focused Principal Investor.
Douglas has been involved in the international and Canadian energy industry for over 40 years. He has been a founding member of three upstream oil and gas start-up companies with responsibilities including subsurface and operational responsibilities, private and public capital funding, corporate acquisitions, restructuring, and compliance.
In 2017, Douglas co-founded True North Renewable Fuels Ltd. as the President and Chief Executive Officer. Up until the sale of the company’s assets in March 2021, he was responsible for the strategic direction and development of the business in accordance with current and proposed North American regulations.
Following the sale of True North Renewable Fuels Ltd., Douglas co-founded Azure Sustainable Fuels Corp. and was appointed President and Chief Executive Officer. In this role he was responsible for strategic direction and technology oversight
In July 2024, Douglas transitioned to the role of Vice Chairman of the Board.
David has over 30 years experience in the energy industry and asset management.
David graduated from Edinburgh University with a Chemical Engineering degree. He began his career with Mobil, beginning in engineering and progressing through trading, origination and principal investments.
After launching and heading up trading teams at Enron Europe and HETCO (now Hartree), David joined Vitol where he built a world leading Global Gas team incorporating trading, and investments in numerous challenging jurisdictions.
Since 2014, David has been investing through his own family office with a hands-on approach and a focus on building and nurturing management teams in a variety of sectors
David graduated from Edinburgh University with a Chemical Engineering degree. He began his career with Mobil, beginning in engineering and progressing through trading, origination and principal investments.
After launching and heading up trading teams at Enron Europe and HETCO (now Hartree), David joined Vitol where he built a world leading Global Gas team incorporating trading, and investments in numerous challenging jurisdictions.
Since 2014, David has been investing through his own family office with a hands-on approach and a focus on building and nurturing management teams in a variety of sectors
Adam has over 18 years of experience in Canadian energy capital markets and private equity. Adam has been a founder of several early-stage energy businesses, and currently serves on the boards of Azure Sustainable Fuels Corp., Fordwater Holdings Ltd., and Woodcote Oil & Gas Inc.
Adam currently works as President and CEO of Fordwater Holdings Ltd., a principal investment firm backed by a Swiss family office. Adam started his career at Peters & Co.
Limited, where he became a partner of the firm specializing in the Canadian Junior and Mid-Capitalization Upstream sub-sectors. Adam holds the Chartered Financial Analyst and the Institute of Corporate Directors, Director designations.
Adam currently works as President and CEO of Fordwater Holdings Ltd., a principal investment firm backed by a Swiss family office. Adam started his career at Peters & Co.
Limited, where he became a partner of the firm specializing in the Canadian Junior and Mid-Capitalization Upstream sub-sectors. Adam holds the Chartered Financial Analyst and the Institute of Corporate Directors, Director designations.
Jason has over 25 years of business experience across multiple industries, with nearly 20 years of experience with Savage. Jason currently works as President, Infrastructure Sector at Savage. Savage’s Infrastructure Sector designs, builds, and operates best in class industrial logistics infrastructure for efficient and safe movement of industrial materials and finished products by rail, truck, and marine.
Jason joined Savage in 2005 and has held various management and executive roles in finance, operations, marketing, and business development. Jason has played a significant role in the company’s growth. Prior to his current role, Jason served as EVP, Business Development. and
Jason joined Savage in 2005 and has held various management and executive roles in finance, operations, marketing, and business development. Jason has played a significant role in the company’s growth. Prior to his current role, Jason served as EVP, Business Development. and
FAQ
Sustainable Aviation Fuel or SAF is an alternative to conventional jet fuel that is designed to reduce the environmental impact of air travel. Once blended with conventional fuel (up to 50%), it is certified for use and indistinguishable in performance.
SAF contributes to environmental sustainability in several important ways, primarily by addressing the carbon emissions and environmental impact of traditional aviation fuel.
SAF production in North America faces several significant challenges, despite growing demand and strong sustainability goals in the aviation industry. Here’s a clear breakdown of the current challenges:
- High production costs and infrastructure needs
- Policy and Regulatory Gaps
- Distribution and Blending Limitations
- Low supply vs. Growing Demand
Yes, SAF is available at a growing number of major airports, but its availability is still limited
- Partner with SAF Producers
- Secure offtake agreements with SAF producers
- Invest of co-develop SAF plants, helping scale supply and lock in lower prices
- Join Industry Coalitions and Alliances
- Leverage Government Incentives
- Canada: Airlines can engage in Clean Fuel Regulations, which offer credits for SAF use
- US: SAF tax credits, grants, R&D funding and state incentives
- Use Book-and-Claim Systems