- United Airlines Holdings Inc (NASDAQ:UAL) said it is making a $5 million investment in carbon capture technology company Svante.
- 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).
- The investment is part of United Airlines’ Sustainable Flight Fund.
- The fund supports start-ups focused on decarbonizing air travel through SAF research, technology and production.
- The investment is a part of Svante’s Series E financing round and will support its commercial-scale filter manufacturing facility in Vancouver, BC, Canada.
- United Airlines aims to be 100% green by reducing its greenhouse gas (GHG) emissions 100% by 2050, without the help of traditional carbon offsets.
- SAF is made from used cooking oil and agricultural waste and is an alternative to conventional jet fuel.
- Price Action: UAL shares are trading higher by 2.02% at $43.27 on the last check Wednesday.
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