Aircastle announces investment commitment to SAF fund
Aircastle Limited announced that it has made an investment commitment to the United Airlines Ventures' Sustainable Flight Fund.
SAF is an alternative to conventional jet fuel that, on a lifecycle basis, reduces greenhouse gas emissions associated with air travel compared to conventional jet fuel alone. Aircastle now joins 21 other corporate partners who represent various parts of the aviation supply chain that have committed over $200 million in capital to invest in a roster of companies developing cutting edge technologies for SAF production.
Mike Inglese, Aircastle's Chief Executive Officer, commented, "SAF has been identified as a primary means by which the aviation segment will make progress towards ambitious decarbonization goals. United has been a global leader in SAF investment and Aircastle is proud to partner with them, and the fund's other investment participants, to pledge our support to expand the availability of SAF."
In a related press release, Andrew Chang, Managing Director of United Airlines Ventures, commented, "SAF is the best tool we have to decarbonize airplanes, but we don't have enough of it. To create the fuel supply we need for our fleet, United recognized that we would have to help build a brand-new industry from scratch – like wind and solar in previous decades. As part of our effort to build a new sustainable aviation ecosystem, we recruited a group of partners with the industry expertise to support our startups with both financial and strategic capital, to help them navigate the entire process from conception to commercialization."
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