United Airlines Invests in Aviation Biofuel Company
United Airlines announced it was taking a stake in Fulcrum BioEnergy, an aviation biofuel company.
The Chicago-based carrier said it will make a $30 million equity investment in Fulcrum. This will be “the single largest investment by a U.S. airline in alternative fuels,” the company said in a statement.
Fulcrum’s technology converts municipal solid waste into low-cost sustainable aviation biofuel.
In addition to the equity investment, the agreement allows the two companies to develop up to five projects located near United’s hubs that could produce as much as 180 million gallons of sustainable biofuel for the airline each year.
The move is not the airline’s first foray in biofuel. In 2011, United became the first carrier to operate a U.S. passenger flight powered by biofuel made from algae and the airline also plans to start using aviation biofuel from AltAir Fuels for flights out of Los Angeles starting later this year.
(Photo: Accura Media Group)