The United Airlines Ventures (UAV) Sustainable Flight Fund, which supports start-ups with the goal of increasing the supply of sustainable aviation fuel, recently added eight new corporate partners, increasing its investment power to nearly $200 million.
The new members are American Express Global Business Travel, Aramco Ventures, Aviation Capital Group, Bank of America, Boston Consulting Group, Groupe ADP, Hawaiian Airlines and JetBlue Ventures.
“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,” Michael Leskinen, United Airlines Ventures president, said. “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.”
The fund launched with more than $100 million in investments from United and its inaugural partners. United plans to recruit additional corporations to join the fund.
United customers also can contribute to the fund when they book flights. Customers have contributed more than $200,000.