(TAN): The United Airlines Ventures Sustainable Flight Fund (UAV) has reached a significant milestone, with its investment power now soaring to nearly USD 200 million, just five months after its initial launch.
The fund, aimed at bolstering the supply of sustainable aviation fuel (SAF) through support for start-ups, has also welcomed eight prominent corporate partners, underlining a growing commitment within the aviation industry and beyond to combat climate change.
The latest additions to the UAV Sustainable Flight Fund are American Express Global Business Travel, Aramco Ventures, Aviation Capital Group, Bank of America, Boston Consulting Group, Groupe ADP, Hawaiian Airlines, and JetBlue Ventures. They join the fund’s inaugural partners, including Air Canada, Boeing, GE Aerospace, JPMorgan Chase, and Honeywell, to collectively drive advancements in sustainable aviation.
[ALSO READ: New French delicacies on Air France La Première and Business cabins]
United Airlines customers are also stepping up to contribute to the cause. The airline has offered its passengers the option to add to the UAV Sustainable Flight Fund when booking flights, and since the fund’s inception, more than 60,000 United customers have contributed over USD 200,000.
Sustainable aviation fuel, an eco-friendly alternative to traditional jet fuel, is a crucial component in reducing the greenhouse gas emissions associated with air travel. United Airlines has already emerged as a pioneer in this field, investing in the future production of an impressive five billion gallons of SAF – the highest commitment among airlines worldwide.
Michael Leskinen, president of United Airlines Ventures, highlighted the airline’s aspiration to lead by example and encourage others to follow suit. “While United can’t decarbonize the airline industry alone, we can use our leadership and credibility in this space to rally others to join us,” he 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.”
[ALSO READ: Boutique hotel Rome EDITION opens with promise of redefining luxury hospitality]
With the UAV Sustainable Flight Fund, the emphasis is not only on promoting SAF use but also on scaling the industry itself through investments in cutting-edge technology and proven SAF producers. As a result, corporate partners stand to gain preferential access to environmental attributes associated with United’s future SAF supply.
Presently, SAF must be blended with conventional jet fuel to meet regulatory requirements for aircraft use. However, advancements are being made in producing SAF from various feedstocks, including used cooking oil, agricultural waste, household trash, and forest waste. United’s investments through the UAV Sustainable Flight Fund will explore a variety of SAF feedstocks and technologies, working towards a future of truly sustainable flight.
Related posts:
United partners with new community organisations to work towards carbon neutrality
United claims to have become the largest airline to invest in zero-emission engines for regional aircraft
United partners with Tallgrass, Green Plains to develop new sustainable aviation fuel technology with ethanol
United wants to turn microalgae into sustainable aviation fuel
