United Airlines announced a $5 million investment into the carbon capture company Svante. Svante is a company that provides materials and technology that has the potential to convert carbon dioxide removed from the atmosphere into sustainable aviation fuel (SAF).
The goals of Svante
Svante is considered a global leader in second-generation solid sorbent-based carbon capture and removal. The technology utilizes structured absorbent beds as filters, that capture up to 95% of carbon dioxide in the atmosphere.
Once the carbon dioxide is captured from the air, it is concentrated and used for sustainable aviation fuel or other products. Svante works with organizations across the world, including Dimensional Energy - a company that specializes in carbon utilization, including turning carbon dioxide into jet fuel. This company is another one that United Airlines has invested in previously. Dimensional Energy Chief Executive Officer, Jason Salfi, spoke about the growing partnership,
"The teams at Svante and Dimensional Energy are working together to design integrated systems for captured CO2 to SAF today. There is enough CO2 in the atmosphere and in industrial process emissions to provide all of the carbon necessary for the fuels and products people use every day now and into the future. Svante provides the first step toward a circular carbon economy."
The manufacturing facility that Svante utilizes is anticipated to produce enough filters to capture millions of tons of carbon dioxide in the air per year. Svante's President and Chief Executive Officer, Claude Letourneau, spoke about the investment with United Airlines, saying,
"We are pleased to have the support of United Airlines as one of our world-class investors. 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."
United Airlines continues working towards eliminating greenhouse gas emissions
The United Airlines and Svante partnership was completed as part of Svante's Series E financing round. The investment will look to support Svante's commercial-scale filter manufacturing facility in Vancouver, Canada.
This venture aligns with United Airlines' goal to be 100% green by 2050, without relying on typical carbon offsets. Currently, United Airlines has invested in the future production of over three billion gallons of sustainable aviation fuel.
Sustainable aviation fuel reduces greenhouse gas emissions that are associated with air travel when compared to conventional jet fuel. Typically, sustainable aviation fuel is produced from cooking oil and agricultural waste. However, in the future, there are many companies that are looking to produce sustainable aviation fuel from other processes. Some of these ideas include household trash, forest waste, or other feedstock. Svante uniquely looks to create sustainable aviation fuel from compressed carbon dioxide.
This investment comes recently after United Airlines announced its Sustainable Flight Fund. This fund aligns with United Airlines' principles of investing in sustainable aviation fuel for the future and the various ways to produce it.