CHICAGO, Feb 21 (Reuters) - United Airlines (UAL.O) launched on Tuesday a more than $100 million investment fund to support start-ups focused on the research and production of sustainable aviation fuel (SAF).
The Chicago-based carrier along with inaugural partners such as Air Canada (AC.TO), Boeing (BA.N), General Electric (GE.N) JPMorgan Chase (JPM.N) and Honeywell (HON.O) have invested in the United Airlines Ventures Sustainable Flight Fund, it said.
United said the fund was open to investment by companies across industries and would prioritize investment in new technology and "proven" producers.
United's Chief Sustainability Officer Lauren Riley said the investment fund was aimed at scaling up the supply of SAF.
However, as of last December, the total volume of SAF used in its operations remained less than 0.1% of its total aviation fuel usage.