CHICAGO, July 13, 2021 /PRNewswire/ -- United
Airlines Ventures (UAV) announced today it, along with Breakthrough
Energy Ventures (BEV) and Mesa Airlines, has invested in
electric aircraft startup Heart Aerospace. Heart Aerospace is
developing the ES-19, a 19-seat electric aircraft that has the
potential to fly customers up to 250 miles before the end of
this decade. In addition to UAV's investment, United Airlines has
conditionally agreed to purchase 100 ES-19 aircraft, once the
aircraft meet United's safety, business and operating requirements.
Mesa Airlines, United's key strategic partner in bringing electric
aircraft into commercial service, has also agreed to add 100 ES-19
aircraft to its fleet, subject to similar requirements.
UAV is building a portfolio of companies that focus on
innovative sustainability concepts and create the technologies and
products necessary to build a carbon-neutral airline and reach
United's net-zero greenhouse gas emissions goals. With this new
agreement, United is deepening its bold commitment to reduce its
greenhouse gas emissions 100% by 2050 without relying on
traditional carbon offsets, as well as enabling the growth of Heart
Aerospace and participating in the development of aircraft that
will reduce greenhouse gas emissions from flying.
"Breakthrough Energy Ventures is the leading voice of investors
who are supporting clean-energy technology creation. We share their
view that we have to build companies who have real potential to
change how industries operate and, in our case, that means
investing in companies like Heart Aerospace who are developing a
viable electric airliner," said Michael
Leskinen, United's Vice President Corp Development &
Investor Relations, as well as UAV's President. "We recognize that
customers want even more ownership of their own carbon emissions
footprint. We're proud to partner with Mesa Air Group to bring
electric aircraft to our customers earlier than any other US
airliner. Mesa's long serving CEO, Jonathan Ornstein has shown visionary leadership
in the field of electric-powered flight."
UAV and BEV are among the first investors in Heart Aerospace,
demonstrating confidence in Heart's design and creating potential
for Heart to fast track the ES-19 introduction to market as early
as 2026.
"Aviation is such a critical piece of our global economy. At the
same time, it's a major source of carbon emissions and one of the
most difficult sectors to decarbonize," said Carmichael Roberts,
Breakthrough Energy Ventures. "We believe electric aircraft
can be transformational in reducing the emissions of the industry,
and enable low cost, quiet and clean regional travel on a broad
scale. Heart's visionary team is developing an aircraft around its
proprietary electric motor technology that will allow airlines to
operate at a fraction of the cost of today and has the potential to
change the way we fly."
By utilizing electric motors instead of jet engines, and
batteries instead of jet fuel, Heart's ES-19 aircraft will have
zero operational emissions. Seating 19 passengers, the ES-19
aircraft will also be larger than any of its all-electric
competitors and will be designed to operate on the same types of
batteries used in electric cars. Once operational, the ES-19
could operate on more than 100 of United's regional routes out of
most of its hubs. Some of these routes include Chicago O'Hare
International Airport (ORD) to Purdue
University Airport (LAF) and San
Francisco International Airport (SFO) to Modesto City-County
Airport (MOD).
"Electric aircraft are happening now—the technology is already
here," said Anders Forslund CEO of Heart Aerospace. "We couldn't be
prouder to be partnering with United, Mesa and BEV on taking our
ES-19 aircraft to market. I can't imagine a stronger coalition of
partners to advance our mission to electrify short-haul air
travel."
Once operational, Heart's ES-19 could give customers access to
the convenience of flight without contributing to carbon emissions
that cause climate change.
"We expect the short-haul regional air travel market to play a
key role in the evolution of the electric aircraft. As
battery technology improves, larger-gauge aircraft should become
viable but we're not going to wait to begin the journey," Leskinen
said. "That's why we're looking forward to beginning our work with
Heart, so that, together, we can scale the availability of electric
airliners and use them for passenger flights within the next five
years."
About United Airlines Ventures
United's corporate venture capital fund, United Airlines
Ventures, allows the airline to continue investing in emerging
companies that have the potential to influence the future of
travel. The new fund will concentrate on sustainability concepts
that will complement United's goal of net zero emissions by 2050 -
without relying on traditional carbon offsets - as well as
revolutionary aerospace developments and innovative technologies
that are expected to create value for customers and United's
operation. For more information about United Airlines Ventures,
please visit https://www.united.com/ventures.
About United
United's shared purpose is "Connecting People. Uniting the
World." For more information, visit united.com, follow @United on
Twitter and Instagram or connect on Facebook. The common stock of
UAL is traded on the Nasdaq under the symbol "UAL."
About Breakthrough Energy Ventures
Backed by many of the world's top business leaders, Breakthrough
Energy Ventures (BEV) invests in cutting-edge companies that will
lead the world to net-zero emissions. BEV has more than
$2 billion in committed capital to
support bold entrepreneurs building companies that can
significantly reduce emissions from agriculture, buildings,
electricity, manufacturing, and transportation. BEV's strategy
links government-funded research and patient, risk-tolerant capital
to bring transformative clean energy innovations to market as
quickly as possible.
The first fund was created in 2016 as part of the Breakthrough
Energy network of initiatives and entities, which include
investment funds, non-profit and philanthropic programs, and policy
efforts linked by a shared commitment to scale the technologies
needed to address climate change and achieve a path to net zero
emissions by 2050.
Visit https://www.breakthroughenergy.org/ to learn
more.
About Heart Aerospace
Heart Aerospace is an electric airplane company based in
Gothenburg, Sweden. The company is
developing the ES-19, a nineteen-passenger aircraft scheduled to
enter into service by 2026. The company was founded in 2018 and was
part of the Y Combinator accelerator program in 2019. For more
info, visit heartaerospace.com.
About Mesa Airlines
Mesa Airlines is a regional airline based in Phoenix, Arizona. The airline is committed to
helping to decarbonize air travel as both an investor and future
operator of electric aircraft. For more info, visit
www.mesa-air.com.
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