United Airlines has announced a $5 million investment in carbon capture technology company Svante out of its UAV (United Airlines Ventures) Sustainable Flight Fund.
Svante "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)", according to United, whose venture capital fund it branded "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".
United has said it aims to "100% green" by 2050 and 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 and has the added benefit of helping us scale the production of SAF," said chief executive Scott Kirby.
The UAV cash injection is to "support Svante's commercial-scale filter manufacturing facility in Vancouver".
"We are pleased to have the support of United Airlines as one of our world-class investors," said Claude Letourneau, Svante's president and chief executive.