{"id":139607,"date":"2024-02-28T07:35:00","date_gmt":"2024-02-28T06:35:00","guid":{"rendered":"https:\/\/renewable-carbon.eu\/news\/?p=139607"},"modified":"2024-02-23T11:49:13","modified_gmt":"2024-02-23T10:49:13","slug":"united-adds-new-corporate-partners-to-sustainable-flight-fund-that-now-exceeds-200-million","status":"publish","type":"post","link":"https:\/\/renewable-carbon.eu\/news\/united-adds-new-corporate-partners-to-sustainable-flight-fund-that-now-exceeds-200-million\/","title":{"rendered":"United Adds New Corporate Partners to Sustainable Flight Fund That Now Exceeds $200 Million"},"content":{"rendered":"\n\n
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United Adds New Corporate Partners to Sustainable Flight Fund That Now Exceeds $200 Million \u00a9 United<\/figcaption><\/figure><\/div>\n\n\n

Aircastle, Air New Zealand, Embraer, Google, HIS, Natixis CIB, Safran, and Technip Energies are now part of first-of-its-kind effort to reduce emissions and drive production of sustainable aviation fuel (SAF) by providing startups with both financial and strategic capital.<\/strong><\/p>\n\n\n\n

United today announced that Aircastle (a Marubeni & Mizuho Leasing Company), Air New Zealand, Embraer, Google, HIS, Natixis Corporate & Investment Banking, Safran Corporate Ventures, and Technip Energies are now among the 22 corporate partners that make up the airline’s The United Airlines Ventures Sustainable Flight FundSM<\/sup><\/a>, a first-of-its kind effort to reduce emissions and drive production of sustainable aviation fuel (SAF) through investments in startups.<\/strong><\/p>\n\n\n\n

These corporate partners make up all parts of the aviation supply chain \u2013 airlines, aircraft and engine manufacturers, fuel producers, engineering and technology experts, financiers, travel management and more \u2013 and have now committed more than $200 million while collaborating to provide strategic expertise to help the Fund’s portfolio companies reach commercialization.<\/p>\n\n\n\n

Since its inception in February 2023, the Fund remains aviation’s first and only venture<\/a> fund backed by a broad limited partner base and created to identify and support startups advancing feedstock and technology development focused on increasing the supply of SAF.<\/p>\n\n\n\n

The airline has included a way for everyday consumers to participate as well. Anyone using United.com or the United app has an option to contribute to supplement United’s investment in the UAV Sustainable Flight FundSM<\/sup> before check-out. Users have the choice to contribute $1, $3.50 or $7.00.1<\/sup> Continuing in the effort toward climate transparency for our customers, United also now shows an estimated carbon emissions for flights booked through United.com or the United app. In less than 12 months, more than 115,000 people have contributed nearly $500,000 since February 2023.<\/p>\n\n\n\n

SAF is an alternative to conventional jet fuel that, on a lifecycle basis, reduces greenhouse gas (GHG) emissions associated with air travel compared to conventional jet fuel alone. To date, United has invested in the future production of over five billion gallons of SAF – the most of any airline in the world.2<\/sup><\/p>\n\n\n\n

“SAF is the best tool we have to decarbonize airplanes, but we don’t have enough of it. To create the fuel supply we need for our fleet, United recognized that we would have to help build a brand-new industry from scratch \u2013 like wind and solar in previous decades,” said Andrew Chang, Managing Director of United Airlines Ventures. “As part of our effort to build a new sustainable aviation ecosystem, we recruited a group of partners with the industry expertise to support our startups with both financial and strategic capital, to help them navigate the entire process from conception to commercialization.”<\/p>\n\n\n\n

Sustainable Flight Fund Milestones<\/strong><\/h3>\n\n\n\n