2/21, 2:32 PM (Source: TeleTrader)
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United Airlines and partners create sustainable aviation fuel fund

United Airlines Holding announced Tuesday the creation of an investment vehicle to back startups centered on decarbonizing air travel by accelerating research, production, and technologies associated with sustainable aviation fuel (SAF), the company said in a statement.

United Airlines Ventures Sustainable Flight Fund starts with $100 million in investments from Air Canada, Boeing, GE Aerospace, JPMorgan Chase, Honeywell, and United to subsidize SAF technology. SAF is an alternative to traditional jet fuel that, over its life cycle, reduces greenhouse gas (GHG) emissions. The new fund will be one of the biggest sources of cash in this nascent industry.

"Solving climate change is doable, but it requires hard work and real leadership," said United CEO Scott Kirby. "This fund is unique. It's not about offsets or things that are just greenwashing. Instead, we're creating a system that drives investment to build a new industry around sustainable aviation fuel, essentially from scratch. That's the only way we can actually decarbonize aviation."

Baha Breaking News (BBN) / JG