United Airlines has announced a $15 million investment in carbon capture technology firm Svante as part of the new UAV Sustainable Flight FundSM. The fund is designed to support start-ups focusing on decarbonizing air travel through sustainable aviation fuel (SAF) research, technology and production.
United Airlines aims to be 100% green by 2050, without relying on traditional carbon offsets and has already invested in over three billion gallons of SAF, the largest investment of any airline in the world.
The investment in Svante’s Series E financing round will support the development of the company’s commercial-scale filter manufacturing facility in Vancouver, Canada. Svante’s technology captures and removes 95% of CO2 emissions from industrial sites and the air, which can then be used to create SAF or other products transported and stored underground.
The company’s manufacturing facility will produce enough filter modules to capture millions of tons of carbon dioxide annually across hundreds of large-scale carbon capture facilities. SAF is made from used cooking oil and agricultural waste and could be made from other feedstocks, including household waste or compressed CO2 from Svante’s carbon capture process.
“Carbon capture technology has the potential to be a critical solution in the fight to stop climate change and has the added benefit of helping us scale the production of SAF,” said United CEO Scott Kirby. “And at United we’re building on that approach by investing in both companies that can capture CO2 and others that can turn it into fuel. There’s no question that this carbon utilization is in its infancy today, but as a leader in sustainable flying we must help build the foundation to deploy this technology of the future as expediently as possible. This is truly a global imperative, and United’s investment in Svante reflects our dedication to making sustainable travel a reality.”
