United announces investment in carbon capture sustainable fuel efforts
United Airlines announced a $15 million investment in carbon capture and sustainable fuel efforts with the Canadian company Svante. The investment is part of United’s Sustainable Flight Fund, which aims to achieve net-zero emissions by 2050 without relying on offsets. Unlike traditional biofuel alternatives, Svante manufactures a carbon capture filter that compresses captured carbon for jet fuel production.
Decarbonizing the aviation industry is considered one of the hardest sectors to tackle. Sustainable aviation fuel (SAF) is seen as the favored solution, but it is expensive and currently limited to a 50/50 blend with conventional jet fuel. United’s investment in Svante represents progress in sustainable aviation fuel innovation, which is critical for reducing the industry’s staggering carbon footprint.
The White House 2024 budget proposal puts climate tech front and center
The White House has released its requested budget for 2024, which includes $6.8 trillion in spending, with a focus on climate tech. The proposed budget includes $1 billion for fusion technology R&D, $905 million for clean energy jobs in fossil fuel communities, and $52 billion for industrial decarbonization. The budget also includes funding for clean transportation, offshore wind projects, and supply chain enhancements for clean technologies. However, the budget proposal is seen as unrealistic and has little chance of passing a Republican House.
The proposed budget includes a strong focus on climate mitigation, with significant investments in various packages like equity and environmental justice, jobs, manufacturing, and R&D. The proposed funding is meant to position the U.S. to embrace the transition toward net-zero, with a focus on investing in the middle class and working families.
Future-proof your business by taking climate action
Request a demo
Sources
1. Axios, “United invests $15M in carbon capture-sustainable fuel effort,” https://www.axios.com/2023/03/29/united-carbon-capture-saf Accessed March 30, 2023
2. GreenBiz, “The White House’s 2024 budget proposal prioritizes climate tech,” https://www.greenbiz.com/article/white-houses-2024-budget-proposal-prioritizes-climate-tech Accessed March 30, 2023
