In Texas, oneworld alliance and member airlines, in partnership with Breakthrough Energy Ventures (BEV), announced the launch of a new investment fund designed to address the limited availability and high cost of today’s SAF The fund, led by a number of investors Alaska Airlines and American Airlines, seeks to accelerate the global development of long-term aviation fuel solutions that are cost effective, scalable, and have lower emissions than conventional fuels.
The oneworld BEV Fund will invest in next-generation SAF technologies, support the growth of alternative fuel markets to meet the long-term needs of the global aviation industry and develop a diverse and resilient SAF supply chain to meet future demand.
“By investing in the SAF technologies of the future, American and our oneworld partners are making this business decision to unlock novel technologies with the potential to reach larger scale at lower prices than current technologies can achieve,” said Robert Isom, chief executive officer of American Airlines and chairman of oneworld.
BEV, Breakthrough Energy Venture’s capital fund founded by Bill Gates, will serve as the fund’s investment manager.
The fund is also supported by oneworld alliance member airlines International Airlines Group (IAG), Cathay Pacific, and Japan Airlines.
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