United Airlines Ventures has made a strategic investment in NEXT Renewable Fuels, according to a press release.
Houston-based NEXT is permitting a flagship biofuel refinery in Port Westward, Oregon, with expected production beginning in 2026. At full production, the facility could produce 50,000 barrels per day of Sustainable Aviation Fuel, renewable diesel, and other renewable fuels.
UAV could invest as much as $37.5m into NEXT contingent on milestone targets.
NEXT has secured an agreement with BP for sourcing 100 percent of its feedstock. Once all the necessary approvals and permits are obtained and the biorefinery is operational, it has the potential to be used as a platform to scale SAF and deploy additional future technologies, the release states.
The announcement marks UAV’s fifth SAF-related technology investment and its first investment directly in a biorefinery.
United is the latest major airline to deploy equity in the hydroge space. Last month, American Airline announced an equity investment in Universal Hydrogen Co.
