United Airlines today announced the addition of several new corporate partners to its sustainable aviation fuel (SAF)-focused investment fund, the United Airlines Ventures (UAV) Sustainable Flight Fund, bringing the fund's committed capital to more than $. 200 millions.
New partners include Aircastle, Air New Zealand, Embraer, Google, HIS, Natixis Corporate & Investment Banking, Safran Corporate Ventures and Technip Energies.
Sustainable aviation fuel is seen as one of the key tools to help decarbonize the aviation industry, which is currently responsible for 2-3% of global greenhouse gas (GHG) emissions. SAF is generally produced from sustainable resources such as used oils and agricultural waste. SAF producers estimate that the fuels can result in life-cycle GHG emissions reductions of up to 85% relative to conventional fuels.
Launched in 2023, the fund invests in and supports startups focused on SAF research, technology and production. The fund prioritizes investments in new technologies, advanced fuel sources and proven producers, with the aim of supporting the expansion of SAF supply. Investments to date include algae-to-biofuels company Viridos and carbon capture and removal technology provider Svante.
The new additions bring the total number of partners in the fund to 22, including companies across the aviation supply chain, from airlines, aircraft and engine manufacturers and fuel producers, to engineering and technology specialists, financiers and suppliers of travel management.
Andrew Chang, managing director of United Airlines Ventures, said:
“SAF is the best tool we have to decarbonize planes, but we don’t have enough. To create the fuel supply we need for our fleet, United recognized that we would have to help build an entirely new industry from the ground up – like wind and solar in previous decades. As part of our effort to build a new sustainable aviation ecosystem, we have recruited a group of industry-experienced partners to support our startups with financial and strategic capital, to help them navigate the entire process, from ideation to commercialization. .”
United Airlines has committed to fully reducing greenhouse gas emissions by 2050 without relying on carbon offsets, and the airline is leading the industry with investments in future production of more than 5 billion gallons of SAF.
