United Airlines' corporate venture capital fund and Oxy Low Carbon Ventures have partnered with biotech firm Cemvita Factory to commercialise the production of sustainable aviation fuel (SAF).
United Airlines Ventures also announced it was making an equity investment in Cemvita Factory, which is a subsidiary of Occidental, but provided no further details.
Together, the venture companies will fund development work at Cemvita to convert carbon dioxide into hydrocarbons for SAF. Should performance targets be achieved, the companies plan to form a joint venture to commercialise the technology, said United in a statement.
The commercialisation process would include funding projects such as “pilot and demo plants, engineering studies, financing construction and operating SAF plants”.
United Airline Ventures was launched in June 2021 to fund "sustainability concepts" that will complement the carrier's goal of achieving net zero emissions by 2050 without relying on traditional carbon offsets.
The group also funds aerospace developments and other "innovative technologies".
In December, United purchased an equity stake in hydrogen-electric engine developer ZeroAvia in partnership with Alaska Airlines. The company also signed a deal with Honeywell to invest in Alder Fuels for SAF development.