United Invests US$15m in a Carbon Capture Technology Company

Dark/Light Mode (30/03/23)  United Airlines has invested US$15 million in Svante, a carbon capture technology company.

Svante provides materials and technology as part of the value chain that has the potential to convert CO2 removed from the atmosphere and from industrial emission sources into sustainable aviation fuel (SAF).

This investment comes from the United Airlines Ventures (UAV) Sustainable Flight Fund, a new investment vehicle that is designed to leverage support from cross-industry businesses in order to support start-ups focused on decarbonizing air travel through SAF research, technology and production.

United aims to be 100% green by reducing its greenhouse gas (GHG) emissions 100% by 2050, without relying on traditional carbon offsets. To date, the airline has invested in the future production of over three billion gallons of SAF, the most of any airline in the world.

United Airlines has invested US$15 million in Svante, a carbon capture technology company

"Carbon capture technology has the potential to be a critical solution in the fight to stop climate change and has the added benefit of helping us scale the production of SAF," said United CEO, Scott Kirby. "And at United we're building on that approach by investing in both companies that can capture CO2 and others that can turn it into fuel. There's no question that this carbon utilization is in its infancy today, but as a leader in sustainable flying we must help build the foundation to deploy this technology of the future as expediently as possible. This is truly a global imperative, and United's investment in Svante reflects our dedication to making sustainable travel a reality."

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 a number of organizations, including Dimensional Energy, a carbon utilization – CO2 to jet fuel – company that UAV invested in last year.

"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."

Svante is a leader in second generation solid sorbent-based carbon capture and removal. The company'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 CO2 emissions from industrial sites as well as CO2 that's already in the air. Once the CO2 is captured, it is concentrated and can be used in the creation of SAF or other products. It can also be safely transported and stored underground.

Svante's manufacturing facility is anticipated to produce enough filter modules to capture millions of tons of carbon dioxide per year across hundreds of large-scale carbon capture facilities.

"It's great to see United's commitment to building an ecosystem for carbon dioxide (CO2) to Sustainable Aviation Fuel (SAF) manifest through this significant investment in Svante," said Jason Salfi, Dimensional Energy's CEO. "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."

SAF is an alternative to conventional jet fuel that, on a lifecycle basis, reduces GHG emissions associated with air travel compared to conventional jet fuel alone.

SAF is made from used cooking oil and agricultural waste, and, in the future, could be made from other feedstocks, including household trash, forest waste, or compressed CO2, the end product of Svante's carbon capture process.

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