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Southwest Airways introduced the launch of Southwest Airways Renewable Ventures (SARV), a brand new subsidiary accountable for managing the airline’s sustainable aviation gas (SAF) investments, and creating alternatives for the corporate to acquire SAF to achieve its clear gas targets.
The corporate additionally introduced a brand new $30 million funding in SAF expertise startup LanzaJet, which is able to kind a part of the SARV portfolio. Launched in 2020 by carbon recycling expertise firm LanzaTech, Illinois-based LanzaJet has developed “Alcohol-to-Jet” expertise enabling the creation of SAF and renewable diesel from waste-based and sustainable ethanol sources together with feedstocks akin to low-carbon sugarcane, power crops, forest residuals, agricultural wastes, and natural waste.
Bob Jordan, President & CEO of Southwest Airways, mentioned:
“Our launch of SARV and our funding in LanzaJet display that we’re not sitting on the sidelines. Somewhat, we’re within the recreation by taking proactive, disciplined steps towards securing reasonably priced SAF for Southwest, as we proceed to march towards our objective of web zero by 2050. We stay up for working with firms and organizations growing vital expertise, like LanzaJet, which might assist us meet our SAF targets.”
The launch of the brand new SAF funding enterprise follows the discharge in November by Southwest of its up to date sustainability technique, “Nonstop to Web Zero.” Southwest’s local weather targets embody reaching web zero emissions by 2050, and decreasing emissions depth by 25% by 2030 and 50% by 2035. The technique additionally features a goal to exchange 10% of its whole jet gas consumption with SAF by 2030.
In 2022, Southwest invested in SAFFiRE Renewables, an organization geared toward piloting and commercializing expertise for the manufacturing of low-cost sustainable aviation gas, and shaped as a part of a Division of Vitality (DOE)-backed venture to develop and produce scalable SAF, which may also be held by SARV. SAFFiRE has a license settlement for expertise utilized in changing corn stover, a broadly obtainable agricultural residue feedstock, into cellulosic ethanol, which can be utilized to provide SAF using LanzaJet’s expertise.
Jimmy Samartzis, CEO of LanzaJet mentioned:
“Southwest’s fairness funding in LanzaJet will assist us proceed to develop and scale to satisfy the calls for of the aviation trade, whereas unlocking the numerous potential of the U.S. biofuels trade to profit native communities and assist the agriculture trade.”
As a part of its settlement with Southwest, LanzaJet intends to construct an ethanol-to-SAF facility to provide SAF primarily for Southwest, which is able to embody capabilities to transform SAFFiRE’s cellulosic ethanol into SAF.
Tom Nealon, President of SARV and CEO of SAFFiRE mentioned:
“SARV’s objective is to assist scale SAF via strategic investments, higher positioning Southwest to have entry to prime quality, reasonably priced SAF in accordance with the strong requirements of Southwest’s SAF coverage. Via SARV’s funding in LanzaJet, we’re additionally coming into the subsequent section within the commercialization of SAFFiRE expertise, which is designed to assist the manufacturing of cellulosic ethanol that may be transformed to SAF.”
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