The Sustainable Flight Fund of United Airlines Ventures has received funding from Aircastle Limited.
When compared to using only conventional jet fuel, Sustainable Aviation Fuel (SAF) lowers the greenhouse gas (GHG) emissions linked to air travel throughout the course of its lifecycle.
Aircastle now has approximately $200 million (€185 million) in funds committed to investing in a list of firms developing leading edge technology for SAF production, joining 21 other corporate partners representing different segments of the aviation supply chain.
“SAF has been identified as a primary means by which the aviation segment will make progress towards ambitious decarbonisation goals,” stated Mike Inglese, CEO of Aircastle.
“United has been a global leader in SAF investment and Aircastle is proud to partner with them, and the fund’s other investment participants, to pledge our support to expand the availability of SAF.”
In addition, United Airlines Ventures managing director Andrew Chang stated, “SAF is the best tool we have to decarbonize airplanes, but we don’t have enough of it.” United realized that, similar to wind and solar in earlier decades, we would need to help create a whole new industry from beginning in order to provide the fuel supply we require for our fleet. We assembled a network of partners with the necessary industry experience to assist our startups with both financial and strategic resources, enabling them to successfully navigate the whole process from inception to commercialization, as part of our endeavor to create a new, sustainable aviation ecosystem.