Embraer (NYSE: ERJ; B3: EMBR3) today announced that the company will join the United Airlines Ventures (UAV) Sustainable Flight Fund SM, an investment vehicle focused on scaling up the supply and availability of Sustainable Aviation Fuels (SAF) through investing in innovative startups.
Launched in February 2023, the fund has grown to include 22 corporate partners from cross-industry businesses that, along with United, have committed more than $200 million in capital to invest in startups aiming to decarbonize the air travel ecosystem.
'Embraer is proud to join United Airlines Ventures Sustainable Flight Fund, which is aligned with our commitment to develop and support innovative solutions to address the growing need for a clean energy transition in aviation,' said Leonardo Garnica, head of corporate innovation at Embraer. 'In a joint collaborative effort with our partners, we can accelerate large-scale SAF production as the aviation industry progresses toward the goal of net-zero emissions by 2050.'
The increase of SAF availability is a key driving factor to achieving aviation sustainability since utilization of renewable energy sources can reduce greenhouse gas (GHG) emissions by up to 80% compared to conventional jet fuel. Increasing SAF availability is one of Embraer's targets as it aims to achieve carbon-neutral operations by 2040.
Embraer's commitment to sustainability is an integral part of its business strategy. The company has successfully performed flight tests on 100% neat SAF and continues to explore new ways to reduce its environmental impact through strategic partnerships, innovation, and research and development on zero-emission alternative propulsion systems.
Photo: Embraer DAM (bynder.com)
About Embraer Ventures Fund
Embraer sees Corporate Venture Capital (CVC) programs as an approach that allows for the promotion of adjacent and transformational initiatives, in an agile way, leveraging external resources and sharing risks to explore new business models and accelerate the development of emerging technologies.
Embraer Ventures allows the company to strategically invest in minority stakes in startups. In 2014, the company started the first CVC fund - FIP Aeroespacial - which has already been fully invested, and in 2018, the company invested in the Catapult Ventures Fund, headquartered in Silicon Valley expanding the geographic reach of investments in high technology and innovation.
Nowadays the company holds a portfolio of several funds to invest in Brazil and globally and more than 40 startups invested. Innovation Verticals are framing the main investments of the company which include besides Zero Emission, others key topics for the future of air mobility such as: Autonomous Flight, Artificial Intelligence, Industry 4.0, Airframe Competitiveness, Cybersecurity and Passenger Experience.
About UAV Sustainable Flight Fund
The UAV Sustainable Flight FundSM is a first-of-its-kind investment vehicle 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. The fund is comprised of more than $200 million in investment commitments from United and corporate partners including: Air Canada, Air New Zealand, Aircastle (a Marubeni & Mizuho Leasing Company), American Express Global Business Travel, Aviation Capital Group, Boeing, Boston Consulting Group, Embraer, GE Aerospace, Google, Groupe ADP, Hawaiian Airlines, HIS, Honeywell, JetBlue Ventures, Natixis Corporate & Investment Banking, Safran Corporate Ventures, and Technip Energies, among others.
For more information about the fund, please visit the United Airlines Ventures website: united.com/en/us/fly/company/responsibility/united-airlines-ventures.html
About Embraer
A global aerospace company headquartered in Brazil, Embraer (NYSE: ERJ; B3: EMBR3) has businesses in Commercial and Executive Aviation, Defense & Security, and Agricultural Aviation. The company designs, develops, manufactures, and markets aircraft and systems, providing after-sales service and support to customers. Since it was founded in 1969, Embraer has delivered more than 8,000 aircraft.
On average, every 10 seconds an aircraft manufactured by Embraer takes off somewhere in the world, transporting more than 145 million passengers a year. Embraer is the main manufacturer of commercial jets with up to 150 seats and the main exporter of high value-added goods in Brazil. The company maintains industrial units, offices, service centers, and parts distribution, among other activities, in the Americas, Africa, Asia, and Europe.
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