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United Airlines Announced Today the Launch of United Airlines Ventures Sustainable Flight Fund (UAV Sustainable Flight Fund), an Innovative Investment Vehicle Designed to Support Start-Ups Focused on Decarbonizing Aviation.
With over US$ 100 million in investments from United and its partners, Air Canada, Boeing, GE Aerospace, JPMorgan Chase, and Honeywell, this fund serves to accelerate research in decarbonizing aviation, production, and technologies associated with sustainable aviation fuel (SAF).
However, for the first time among U.S. airlines, anyone purchasing a ticket on United’s website or app has the option to contribute to supplement United’s investment in the fund. The first 10,000 people who choose to contribute will receive 500 MileagePlus miles as a thank you.
SAF is an alternative to conventional aviation fuel that reduces greenhouse gas (GHG) emissions associated with air travel compared to conventional aviation fuel. SAF can be produced from used cooking oil and agricultural waste and could eventually be produced from other feedstocks, including household waste or forest residues. So far, United has invested in the future production of over three billion gallons of SAF.
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“Addressing climate change is feasible, but it requires hard work and real leadership,” said United CEO Scott Kirby. “This fund is unique. It is not about offsets or things that are just ‘greenwashing.’ Instead, we are creating a system that drives investment to build an entirely new industry around sustainable aviation fuel, essentially from scratch. That is the only way to achieve decarbonization of aviation.
The UAV Sustainable Flight Fund is open to participation from companies in all sectors and will prioritize investment in new technologies, advanced fuel sources, and proven producers. United is also educating consumers about their carbon footprint in air travel and enabling them to contribute to the fund before checkout. Customers have the option to contribute US$ 1, US$ 3.50, or US$ 7.00.
This initiative from United Airlines represents an important step in reducing global emissions associated with air travel and places the United States at the forefront of the global aviation decarbonization industry. The UAV Sustainable Flight Fund demonstrates that there are creative solutions, such as decarbonizing aviation, to address the global climate changes resulting from human activity and provides hope for a more promising future for our planet.
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