Qantas, Airbus commit $9m in Climate Tech Partners for SAF
Australian flag carrier airline Qantas and European aerospace manufacturer Airbus have joined forces with a significant AUD$15m ($9m) investment in venture capital fund focused on climate solutions Climate Tech Partners (CTP).
The investment will help CTP accelerate the development and commercialisation of sustainable aviation fuel (SAF) and other crucial decarbonization technologies within the aviation industry.
Through this partnership, CTP will strategically invest on behalf of Qantas and Airbus in both local and international start-ups pioneering SAF and other innovative technologies. As these solutions mature, Qantas and Airbus will have the opportunity to explore further investments, enabling the real-world deployment of these technologies in Australian projects.
“This partnership with CTP and Qantas highlights that the scaling of Sustainable Aviation Fuel needs innovative solutions for a nascent technology that will drive innovation, attract investment and create new jobs in Australia, which I believe is well positioned to be a leader in low carbon fuels,” said Julie Kitcher, Airbus chief sustainability officer.
Qantas and Airbus’s investment will establish a dedicated vehicle within CTP, concentrating on advancements in SAF production, feedstock development and broader value-chain innovations, complementing CTP’s main fund.
CTP’s network of 12 partners, comprising leaders from diverse industries such as energy generation and infrastructure, will provide invaluable mentorship and strategic guidance to supported start-ups, fostering further collaboration and growth.
The $9m investment stems from the $200m partnership established between Qantas and Airbus in 2022, specifically designed to accelerate the production of SAF.
“Sustainable aviation fuel is the most effective tool we have to decarbonise aviation and, with Airbus, we’re investing significantly in ways to make it more available and accessible,” said Qantas group chief sustainability officer Fiona Messent. “As well as funding, this partnership will help provide a vote of confidence in new technologies so they can be developed, scaled and integrated in the SAF supply chain, while also providing companies with access to Qantas and Airbus as they develop and test their solutions.”
Patrick Sieb, co-founder of CTP, welcomed the partnership, stating: “Working with global leading aviation and aerospace companies allows us to not only make more deeply informed investment decisions in this complex area but attract and support the best companies by helping them accelerate through industry engagement.”