JetBlue Looks to Advance Sustainable Aviation Fuel (SAF) with AIR COMPANY
September 23 2022 - 8:00AM
Business Wire
JetBlue signs intent to purchase 25 million
gallons of AIR COMPANY’s innovative AIRMADE™ SAF over five
years.
AIR COMPANY’s groundbreaking AIRMADE SAF opens
incredible potential to grow the emerging market with
carbon-negative fuel made from captured CO2.
JetBlue (Nasdaq: JBLU) today announced plans to bolster its
transition to sustainable aviation fuel (SAF) with a new agreement
with AIR COMPANY, an innovative carbon technology company creating
carbon-negative alcohols and fuels from carbon dioxide (CO2). AIR
COMPANY has developed and deployed a single-step process for
CO2-derived fuel production using renewable electricity to create
its novel AIRMADE™ sustainable aviation fuel (SAF) product.
JetBlue’s memorandum of understanding (MOU) with AIR COMPANY comes
on the heels of a direct capital investment into AIR COMPANY’s
Series A funding round from JetBlue’s venture capital subsidiary,
JetBlue Ventures.
With this commitment, JetBlue announces its intent to purchase
25 million gallons of AIRMADE™ SAF over five years, with a targeted
start in 2027. AIR COMPANY joins JetBlue’s growing list of SAF
partnerships as it advances its goal to convert 10 percent of its
total fuel usage to SAF on a blended basis by 2030.
“SAF is one of the most promising avenues for addressing
aviation emissions currently available. With creative thinking
backed by science, AIR COMPANY’s work to leverage captured carbon,
a resource distinct from other SAF feedstocks, represents the kind
of innovation that can expand SAF availability and grow the market
necessary to reach our industry goals.” said Sara Bogdan, director
of sustainability and environmental social governance, JetBlue,
“We’re excited to build upon this partnership established by
JetBlue Ventures as we continue our own path to reach net-zero
carbon emissions by 2040.”
Currently available SAF offers approximately 80% reduction in
emissions per net gallon on a lifecycle basis. AIR COMPANY’s
carbon-neutral fuel made from captured CO2 not only takes a step
forward, offering an additional 14% reduction for AIR COMPANY or
total 94% GHG reduction, but importantly, uses an abundant and
freely available resource as a feedstock, negating feedstock
constraints. This advancement offers an additional path to
achieving commercial viability for SAF at-scale, which will be key
to the aviation industry’s net-zero goals.
JetBlue was the first U.S. airline to fly regularly on product
provided by both commercial SAF suppliers currently in the domestic
market and continues to support the emerging SAF market with
significant commitments with other producers as the airline
continues to grow its SAF mix. With regulatory support and
investment into SAF, JetBlue believes the industry can grow the
economies of scale necessary to create a positive feedback loop,
increasing SAF supply and driving competitive pricing needed to
encourage the aviation industry’s transition to sustainable
aviation fuel.
“Our goal at AIR COMPANY is to create solutions that work with
the environment, rather than against it,” explained Gregory
Constantine, CEO and Co-Founder of AIR COMPANY. “Our CO2-derived
SAF has the ability to not only burn neutrally, but importantly
leverages an infinite resource as our feedstock. We’ve partnered
with JetBlue to supply the airline with 25 million gallons of our
AIRMADE™ SAF, contributing to the complex tapestry of SAF solutions
in our fight against anthropogenic climate change.”
Using the same proprietary technology that mimics photosynthesis
to create their consumer ethanol, AIR COMPANY has developed and
deployed its single-step process for CO2-derived fuel production
using renewable electricity. The value of AIR COMPANY’s technology
and its potential to rapidly scale SAF supply by creating renewable
fuels from captured CO2 can also be seen in its list of launch
partners which include respected organizations across multiple
industries including military and commercial aviation.
JetBlue’s Focus on the Environment
JetBlue depends on natural resources and a healthy environment
to keep its business running smoothly. Not only do we all rely on
those natural resources, tourism relies on having beautiful,
natural and preserved destinations for customers to visit. The
airline focuses on issues that have the potential to impact its
business. Customers, crewmembers and community are key to JetBlue's
sustainability strategy. Demand from these groups for responsible
service is one of the motivations behind changes that help reduce
the airline’s carbon output and overall environmental impact. For
more on JetBlue’s sustainability initiatives, visit
www.jetblue.com/sustainability.
About JetBlue Airways
JetBlue is New York's Hometown Airline®, and a leading carrier
in Boston, Fort Lauderdale-Hollywood, Los Angeles, Orlando and San
Juan. JetBlue carries customers to more than 100 destinations
throughout the United States, Latin America, Caribbean, Canada and
United Kingdom. For more information and the best fares, visit
jetblue.com.
About AIR COMPANY
AIR COMPANY is the world’s leading carbon utilization company,
creating consumer and industrial products from carbon dioxide
(CO2). The company’s patented and proprietary Carbon Conversion
Reactor mimics photosynthesis, using only air (CO2), water and sun
(renewable energy) to create carbon-negative alcohols and fuels
from CO2. With three consumer products (AIR Vodka, AIR Hand
Sanitizer, and AIR Eau de Parfum) brought to market thus far, AIR
COMPANY is moving towards world-scale impact with its latest
innovation – CO2-derived sustainable aviation fuel (SAF). The
company’s AIRMADE™ SAF will be certified by the Roundtable on
Sustainable Biomaterials (RSB) and the International Sustainability
& Carbon Certification (ISCC). Amongst a number of
accomplishments, AIR COMPANY has received over $40MM in capital
funding to date and won an incredible amount of highly acclaimed
awards: TIME Best Inventions, Fast Company World Changing Ideas,
the NASA CO2 Conversion Challenge, R&D World’s R&D 100, and
most recently, the Keeling Curve Prize, among others. AIR COMPANY
is the future of carbon technologies. It is redefining what a
regenerative future that works with nature, rather than against it,
could look like.
About JetBlue Ventures
JetBlue Ventures, the corporate venture capital subsidiary of
JetBlue, invests in and partners with early-stage startups
innovating in the travel, transportation, and hospitality
industries. The company prioritizes investments that advance the
seamless customer-centric journey; reimagine the accommodation
experience; next-generation aviation operations and enterprise
tech; distribution, loyalty, and revenue management; and
sustainable travel. Founded in 2016, JetBlue Ventures is a
subsidiary of JetBlue (NASDAQ: JBLU) located in Silicon Valley,
California. For more information, visit
www.JetBlueVentures.com.
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