United adds new partners to sustainable aviation startup fund

Thursday, 15 Feb, 2024 0

Lessor Aircastle, Air New Zealand, Embraer, Google, HIS, Natixis Corporate & Investment Banking, Safran Corporate Ventures, and Technip Energies are the latest firms to join United Airlines Ventures Sustainable Flight Fund.

There are now 22 corporate partners signed up to the first-of-its kind sustainable aviation investment platform for startups.

The corporate partners make up all parts of the aviation supply chain – airlines, aircraft and engine manufacturers, fuel producers, engineering and technology experts.

They have now committed more than $200 million while collaborating to provide strategic expertise to help the Fund’s portfolio companies.

Since its inception in February 2023, it remains aviation’s first and only venture fund backed by a broad limited partner base and focuses on supporting startups increasing the supply of SAF.

Anyone using United.com or the United app has an option to contribute to supplement United’s investment in the UAV Sustainable Flight Fund before check-out.

Users have the choice to contribute $1, $3.50 or $7.00.

United also now shows an estimated carbon emissions for flights booked through United.com or the United app.

In less than 12 months, more than 115,000 people have contributed nearly $500,000 since February 2023.

“SAF is the best tool we have to decarbonize flights, but we don’t have enough of it. United recognized that we would have to help build a brand-new industry from scratch,” said Andrew Chang, MD of United Airlines Ventures.

“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.”

The United Airlines Venture Sustainable Flight Fund also includes Hawaiian Airlines, JetBlue Ventures and Air Canada among its members.

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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.

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