United Airlines has announced the establishment of the United Airlines Ventures Sustainable Flight Fund, which will invest in and support startups involved in sustainable aviation fuel (SAF) research, technology, and production.
United and its inaugural partners Air Canada, GE, Boeing, Aerospace, JPMorgan Chase, and Honeywell have invested over $100 million in the fund. These and possibly other corporate participants will invest alongside United in SAF technology and production startups identified by United through the fund. United Airlines Ventures has invested in startups like Dimensional Energy, Cemvita, and NEXT Renewable Fuels in the last two years alone.
United aims to be completely green by reducing its GHG emissions by 100% by 2050 without relying on traditional carbon offsets. The launch of the new fund follows the launch of the Eco-Skies Alliance, a SAF purchasing programme, and United Airlines Ventures, United’s venture capital fund focused on investing in sustainable aviation-focused companies and revolutionary aerospace developments and innovative technologies.
United also stated that when purchasing a ticket, customers can supplement the company’s investment in the fund by contributing $1, $3.50, or $7.00. In addition, the company announced that it has begun showing an estimate of the flight’s carbon footprint on its website or app, along with suggestions for lower carbon options based on an itinerary to customers while booking flights.
“Solving climate change is doable but it requires hard work and real leadership. This fund is unique. It’s not about offsets or things that are just greenwashing. Instead, we’re creating a system that drives investment to build a new industry around sustainable aviation fuel, essentially from scratch. That’s the only way we can actually decarbonize aviation.”
Scott Kirby, CEO, United Airlines
