logo
  

United, Honeywell To Make Joint Multimillion-dollar Investment In Alder Fuels - Quick Facts

United Airlines (AAL) and Honeywell (HON) announced Thursday a joint multimillion-dollar investment in cleantech company Alder Fuels.

Alder Fuels is pioneering first-of-its-kind technologies for producing sustainable aviation fuel (SAF) at scale by converting abundant biomass, such as forest and crop waste, into sustainable low-carbon, drop-in replacement crude oil that can be used to produce aviation fuel.

Honeywell first pioneered SAF production technology and will use its proven development process to partner with Alder to commercialize its technology. Alder's technology, coupled with Honeywell's Ecofining process, could have the ability to produce a first-of-its-kind low-carbon crude technology to accelerate large-scale SAF production. The goal of the technologies is to produce fuel that is a 100% drop-in replacement for petroleum jet fuel.

As part of the agreement, United is committing to purchase 1.5 billion gallons of SAF from Alder over 20 years when produced to United's requirements. United's purchase agreement is easily the largest publicly announced SAF agreement in aviation history.

United's purchase agreement with Alder also surpasses the previous record set by the airline in 2015 through its investment in Fulcrum BioEnergy with its option to purchase up to 900 million gallons of SAF.

United's joint investment in Alder is the latest by United Airlines Ventures, a venture fund launched earlier this year that focuses on startups, upcoming technologies, and sustainability concepts that will complement United's goal of net zero emissions by 2050, without relying on traditional carbon offsets.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
McDonald's says equal pay for women is just the beginning, while conforming that the fast-food giant pays women globally 99.85 cents on the dollar for similar work, taking into account legitimate pay drivers such as level, location, experience, and performance. The company added that it is on track to close that identified gap in 2022. Verizon Communications Inc. (VZ) said, on an adjusted basis, its third-quarter earnings per share rose 12.8 percent from a year ago. The company said its earnings were highlighted by revenue and customer growth as more than one in four Consumer wireless phone customers now have a 5G-capable device. The... While reporting financial results for the third quarter on Wednesday, Abbott Laboratories (ABT) raised its earnings and adjusted earnings guidance for the full-year 2021. For fiscal 2021, the company continues to project earnings from continuing operations in a range of $3.55 to $3.6 per share and...
Follow RTT