Oneworld and Breakthrough Energy Ventures launch SAF investment fund

Oneworld Alliance and Breakthrough Energy Ventures (BEV) have launched an investment fund to address the limited availability and high cost of sustainable aviation fuel (SAF). 

Led by Alaska Airlines and American Airlines, the fund aims “accelerate” global development of cost effective, scalable, long-term aviation fuel solutions, said Oneworld in a press release.

Robert Isom, CEO at American Airlines and chairman of Oneworld, said: “By investing in the SAF technologies of the future, American and our Oneworld partners are making a business decision to accelerate the development of novel technologies with the potential to reach larger scale at lower prices than current technologies can achieve.”

Ben Minicucci, CEO at Alaska Air Group, added: “In Breakthrough Energy Ventures, we have a partner with the scientific, technical and commercial expertise to make effective investment decisions that will create the market for next-generation fuels and power our industry in the years ahead.”

BEV will serve as the fund’s investment manager.

The fund is also supported by Oneworld alliance member airlines International Airlines Group (IAG), Cathay Pacific and Japan Airlines. 

Oneworld and BEV also made an “early” decision to welcome non-alliance investors who share a commitment to accelerating industry-wide SAF progress, including Singapore Airlines.

Nat Pieper, CEO at Oneworld, said: “Investing in SAF with Breakthrough Energy Ventures is part of Oneworld’s strategy to create a future of aviation that solves problems at scale and serves the needs of the greater aviation community.

“By working together, we’ll be better positioned to create long-term solutions for the energy transformation of an industry that is vital to global economic growth,” he added.