United’s sustainable aviation fuel fund wins Fast Company impact investing honor

By Steve Kerch

May 22, 2024

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2 min read

United Airlines Ventures Sustainable Flight Fund has been named the winner of the impact investing category in Fast Company’s World Changing Ideas awards. The recognition is for funds, social impact bonds and other investments in organizations or initiatives “that generate societal benefit along with financial return,” the business publication said.

United UAL says its Sustainable Flight Fund is a first-of-its-kind investment in sustainable aviation fuel. The fund totals more than $200 million in investments from United and its corporate partners and over $450,000 in contributions from customers. The investments support start-ups working on sustainable aviation fuel research, production and technology.

“At United, we have been consistent in leading the airline industry with bold action when it comes to fighting climate change – that starts with building an ecosystem around companies … to create and commercialize new SAF technologies,” said Michael Leskinen, president of United Airlines Ventures in a release about the investments. “This is truly a global imperative.”

Sustainable aviation fuel is an alternative to normal jet fuel with reduced lifecycle greenhouse gas emissions. It’s made from used cooking oil and agricultural waste. In the future, it could be made from household trash, United says on its web site.

In the past 2 years, United Airlines Ventures has invested in start-ups such as Cemvita, Dimensional Energy and NEXT Renewable Fuels. United says the investments so far have bankrolled the future production of over 5 billion gallons of fuel.

Among three other finalists for the impact investing award was Climatize, a platform that allows investors to fund solar energy projects. Equities News recently profiled Climatize and its co-founder and COO Alba Forns.

Child-Lens Investment Framework UNICEF USA and early-stage venture fund water entrepreneur Burnt Island Venture also were named finalists.

Steve Kerch

Steve is a member of Equities Staff editorial team. He brings 22 years of investment publishing experience to the table having worked at MarketWatch most of his career. He is an experienced editor, writer, columnist, TV host and radio commentator with an extensive background in digital and print journalism. Steve is a proven digital traffic generator and an innovator who has developed specialized digital and print content for local and national audiences.