Welcome aboard!
At United, service is our passion, safety is our top priority, and we are proud of our mission of connecting people and uniting the world. As we look to the future, we know that we must stay committed to finding solutions that contribute to a more environmentally sustainable airline. That’s why we’ve set a goal to reach net-zero greenhouse gas emissions by 2050 without the use of traditional carbon offsets.
We know this kind of innovation is no small feat, which is why we have taken a collaborative approach, seeking out opportunities to work with industry leaders beyond the travel sector to make sustainable aviation a reality. We founded United Airlines Ventures (UAV), a venture capital fund focused on finding solutions to decarbonizing aviation and expanding the options for more sustainable travel. Launched in 2021, UAV is a first-of-its-kind investment fund that identifies startups developing innovative products and technologies that enhance the customer travel experience.
In our journey to being the world’s most sustainable airline, we recognize that the airline industry relies on fossil fuels. In order to decarbonize without using traditional carbon offsets, we looked at the core of our business: jet fuel itself. That’s why, last year, UAV launched the UAV Sustainable Flight Fund (SFF) to invest in startups that advance the production and commercialization of sustainable aviation fuel, or SAF.
Through the fund, we’ve brought together more than 20 companies, all leaders in their respective sectors, to invest in SAF development. SAF is a lower-carbon alternative to normal jet fuel that can be used to fuel existing aircraft without making significant modifications to the aircraft and its engines.
As the head of UAV, I’ve seen some truly exciting innovation from the companies we’re investing in through the SFF. For instance, the SFF has invested in startups that are supporting the production of SAF from nontraditional, sustainable, innovative feedstocks and energy sources. United and our corporate partners committed more than $200 million to our existing and new portfolio companies to aid their growth and help us in our efforts to realize a more sustainable industry. We’ve also seen that many of you, our customers, are eager to be a part of our mission. In fact, over the last year, more than 115,000 customers have contributed nearly $500,000 to supplement our investment in the UAV Sustainable Flight Fund.
We’re proud to be the first airline to use SAF in regular operations and the airline that has invested in more SAF than any other airline globally*. We know, however that our goal to make aviation more sustainable can’t stop at just SAF; also, we know that we can’t realize this goal on our own. Over the last two and a half years, UAV has grown into an ecosystem of companies and individuals working together to support organizations and technologies that show promise in making a real difference for the health of our planet.
Thank you for joining us onboard today. We are grateful to have you alongside us in our shared goal, and we look forward to building a more sustainable future together.
Andrew Chang
Managing Director, United Airlines Ventures, Corporate Development at United Airlines
*Based on publicly announced airline offtake agreements for future purchases of SAF.
