The United Airlines Ventures Sustainable Flight Fund has increased its investment commitments to nearly $200 million and added eight new corporate partners, five months after its initial launch, according to a news release.
American Express Global Business Travel, Aramco Ventures, Aviation Capital Group, Bank of America, Boston Consulting Group, Groupe ADP, Hawaiian Airlines and JetBlue Ventures, will join inaugural fund partners Air Canada, Boeing, GE Aerospace, JPMorgan Chase, and Honeywell.
United customers also have the option to contribute to supplement the airline’s investment in the UAV Sustainable Flight FundSM when they book flights. Since the fund launched, more than 60,000 United customers have contributed a total of more than $200,000.
United will continue to recruit corporations across industries to join the fund and will prioritize investment in new technology, advanced fuel sources, and proven producers – all in an effort to help scale the supply of SAF. Partners also have the potential to gain preferential access to environmental attributes associated with United’s future supply of SAF.
SAF, which currently must be blended with conventional jet fuel to meet regulatory requirements for use within the aircraft, is being made from used cooking oil and agricultural waste, and, in the future, could be made from other feedstocks including household trash or forest waste. Through the UAV Sustainable Flight Fund, United intends to invest in a variety of SAF feedstocks and technologies. With the right policy incentives to produce SAF, United’s efforts could help build a future of sustainable flight.
