United Airlines Ventures Sustainable Flight Fund has increased its investment power to nearly $200m and added eight new corporate partners, five months after its initial launch.
When booking flights with United, customers may additionally make additional contributions to the airline’s UAV Sustainable Flight Fund programme.
The airline stated more than 60,000 customers have given a combined sum of more than $200,000 to the fund since its inception.
The inaugural fund partners Air Canada, Boeing, GE Aerospace, JPMorgan Chase and Honeywell will be joined by American Express Global Business Travel, Aramco Ventures, Aviation Capital Group, Bank of America, Boston Consulting Group, Groupe ADP, Hawaiian Airlines and JetBlue Ventures.
United Airlines ventures president Michael Leskinen highlighted how United’s leadership and credibility surrounding SAF production can rally other companies to join them.
Leskinen said: “Our new and inaugural participants demonstrate the impressive commitment within aviation and beyond to reduce our carbon footprint and combat the threat of climate change.”
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“The UAV Sustainable Flight Fund presents a unique opportunity instead of fighting over the current limited supply of SAF, with our partners, we’re working collaboratively to help scale the SAF industry itself and to get an equity stake in ground-breaking technology while doing it.”
United plans to invest in a range of SAF feedstocks and technologies through the UAV Sustainable Flight Fund.
According to GlobalData, sustainable aviation fuel (SAF) is produced utilising a variety of feedstock, including municipal solid waste, cellulosic waste, used cooking oil, camelina and other renewable sources.
GlobalData research further states SAF has very little environmental effect and can cut carbon emissions from air travel by up to 80% throughout the course of its life cycle.
United Airlines’ involvement in SAF remains prevalent as the company states they have invested in the future production of over five billion gallons of SAF, the most of any airline in the world.