United's Sustainable Flight Fund Soars to $200M+
United Airlines
Aircastle, Air New Zealand, Embraer, Google, HIS, Natixis, Safran, and Technip Energies have jumped on board United Airlines' groundbreaking initiative, The United Airlines Ventures Sustainable Flight FundSM.
This unique effort brings together major players across the aviation industry – airlines, manufacturers, financiers, and more – to tackle a crucial challenge: reducing emissions and boosting the production of sustainable aviation fuel (SAF).
With over $200 million in combined investments, these partners are not just throwing money at the problem. They are also offering their expertise to help aspiring SAF companies reach their full potential.
Launched in February 2023, the Fund is the first of its kind in the aviation industry, backing innovative startups that develop technology and feedstock solutions to increase SAF production.
But even everyday travellers can get involved! When booking flights on United.com or the app, you can add $1, $3.50, or $7 to directly support the Fund. In a heartwarming display of climate action, over 1,15,000 people have contributed nearly $5,00,000 since the launch.
And for those curious about their own impact, United now displays estimated carbon emissions for each flight booking. Transparency is key, and this move empowers travellers to make informed choices.
SAF is a game-changer, offering a massive reduction in greenhouse gas emissions compared to traditional jet fuel. United leads the charge, having invested in the future production of over five billion gallons of SAF – a staggering industry high.
"We see SAF as the key to decarbonising air travel, but production needs a major boost," explains Andrew Chang, Managing Director of United Airlines Ventures. "We're building a brand-new industry, just like wind and solar in the past. By bringing together partners with diverse expertise, we're giving our startups the support they need to go from bright ideas to real-world solutions."
For more sustainable finance news
Source: PRNewswire
