Google, Embraer Join United Airlines’ $200 Million Sustainable Aviation Venture Fund
United Airlines announced today the addition of several new corporate partners to its its sustainable aviation fuel (SAF)-focused investment fund, the United Airlines Ventures (UAV) Sustainable Flight Fund, bringing the capital committed to the fund to over $200 million.
The new partners include Aircastle, Air New Zealand, Embraer, Google, HIS, Natixis Corporate & Investment Banking, Safran Corporate Ventures, and Technip Energies.
Sustainable aviation fuel is seen as one of the key tools to help decarbonize the aviation industry, which currently accounts for 2-3% of global greenhouse gas (GHG) emissions. SAF is generally produced from sustainable resources, like waste oils and agricultural residues. SAF producers estimate the fuels can result in lifecycle GHG emissions reductions of as much as 85% relative to conventional fuels.
Launched in 2023, the fund invests in and supports startups focused on SAF research, technology and production. The fund prioritizes investments in new technology, advanced fuel sources and proven producers, aimed at supporting the scaling of SAF supply. Investments to date include algae-to-biofuel company Viridos, and carbon capture and removal technology provider Svante.
The new additions bring the total number of partners in the fund to 22, including companies from across the aviation supply chain, ranging from airlines, aircraft and engine manufacturers and fuel producers, to engineering and technology experts, financiers, and travel management providers.
Andrew Chang, Managing Director of United Airlines Ventures said:
“SAF is the best tool we have to decarbonize airplanes, but we don’t have enough of it. To create the fuel supply we need for our fleet, United recognized that we would have to help build a brand-new industry from scratch – like wind and solar in previous decades. As part of our effort to build a new sustainable aviation ecosystem, we recruited a group of partners with the industry expertise to support our startups with both financial and strategic capital, to help them navigate the entire process from conception to commercialization.”
United Airlines has committed to fully reduce greenhouse gas emissions by 2050 without relying on carbon offsets, and the airline leads the industry with investments in future production of more than 5 billion gallons of SAF.