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Canopy Energies is establishing a pongamia plantation in Madagascar, aiming for 50,000 hectares by the mid-2030s, to produce 75,000 metric tons of pongamia oil annually by 2035. The plantation's economics rely on oil and meal revenue, with projected annual revenues of $24 million.

The project is registered as a Verified Carbon Standard initiative, expected to generate 2.8 million carbon credits. Canopy targets long-term sustainable aviation fuel production, influenced by Japan's 10% SAF mandate by 2030. The company is evaluating options for crushing oilseeds domestically or exporting them, with a decision anticipated within two years.