In Illinois, the United Airlines Ventures Sustainable Flight Fund has increased its investment power to nearly $200 million and added eight new corporate partners, five months after its initial launch.
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.
Through the fund, these partners and additional corporate participants will invest alongside United in SAF technology and production start-ups identified by United.
United Airlines’ Ventures President Michael Leskinen, said: “Our new and inaugural participants demonstrate the impressive commitment within aviation and beyond to reduce our carbon footprint and combat the threat of climate change. As companies across the globe are increasingly looking for ways to reduce their environmental impact from flying, the UAV Sustainable Flight Fund presents a unique opportunity – instead of fighting over the current limited supply of SAF, with our partners, we’re working collaboratively to help scale the SAF industry itself, and to get an equity stake in groundbreaking technology while doing it.”
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