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United invests $5 million in carbon capture tech
United Airlines announced a new $5 million investment in carbon capture technology.
It is funding development by Svante, which provides materials and technology for converting CO2 removed from the atmosphere.
It hopes to turn this into sustainable aviation fuel.
This is the latest investment by the new UAV Sustainable Flight Fund.
The airline aims to be 100% green by reducing its greenhouse gas emissions 100% by 2050.
To date, United has invested in the future production of over three billion gallons of SAF – the most of any airline in the world.
“Carbon capture technology has the potential to be a critical solution in the fight to stop climate change,” said United CEO Scott Kirby.
“We’re building on that approach by investing in both companies that can capture CO2 and others that can turn it into fuel.”
This investment was made as part of Svante’s Series E financing round and will fund a commercial-scale filter manufacturing facility in Vancouver, BC,
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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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