Friday, April 19, 2024

United Airlines invests $5 million in carbon capture company Svante

United has invested $5 million in carbon capture technology company Svante, which provides materials and technology that has the potential to convert CO2 removed from the atmosphere and from industrial emission sources into sustainable aviation fuel (SAF).

The airline aims to be 100% green by reducing its greenhouse gas emissions by 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, the most of any airline in the world.

The investment was made as part of Svante’s Series E financing round and will fund and support Svante’s commercial-scale filter manufacturing facility in Vancouver, BC, Canada. Svante is working with world-leading organizations around the world, including Dimensional Energy, which specializes in CO2-to-jet fuel production. United Airlines Ventures has previously invested in the Dimensional Energy company as well.

The Canadian startup’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

“We are pleased to have the support of United Airlines as one of our world-class investors,” said Claude Letourneau, Svante’s President & CEO. “The airline industry has a huge opportunity to make a big impact on global decarbonization – 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 commercialization of carbon capture and removal technology.”