United Airlines has announced a $15 million investment in carbon capture technology company Svante, which provides materials and technology as part of the value chain that has the potential to convert CO2 removed from the atmosphere and from industrial emission sources into Sustainable Aviation Fuel (SAF). This is the latest announced investment from the new UAV Sustainable Flight FundSM, a first-of-its-kind investment vehicle that is designed to leverage support from cross-industry businesses in order to support start-ups focused on decarbonising air travel through SAF research, technology and production.
“Carbon capture technology has the potential to be a critical solution in the fight to stop climate change and has the added benefit of helping us scale the production of SAF,” said Scott Kirby, CEO, United Airlines. “And at United we’re building on that approach by investing in both companies that can capture CO2 and others that can turn it into fuel. There’s no question that this carbon utilisation is in its infancy today, but as a leader in sustainable flying we must help build the foundation to deploy this technology of the future as expediently as possible. This is truly a global imperative, and United’s investment in Svante reflects our dedication to making sustainable travel a reality.”
The airline aims to be 100% ‘green’ by reducing its greenhouse gas emissions 100% by 2050, without relying on traditional carbon offsets. To date, United has invested in the future production of over three billion gallons of SAF.
“We are pleased to have the support of United Airlines as one of our world-class investors,” said Claude Letourneau, President & CEO, Svante. “The airline industry has a huge opportunity to make a big impact on global decarbonisation – battling climate change through the transition to sustainable aviation fuels and other innovative technologies that will help the world achieve net zero. Their investment in companies like ours will aid in accelerating the commercialisation of carbon capture and removal technology.”
Svante is a leader in second-generation solid sorbent-based carbon capture and removal. The company’s scalable, eco-friendly, and commercially available carbon capture and removal technology employs structured absorbent beds, known as filters. These filters can capture 95% of CO2 emissions from industrial sites, as well as CO2 that’s already in the air. Once the CO2 is captured, it is concentrated and can be used in the creation of SAF or other products. It can also be safely transported and stored underground.
