Agreement with Neste for more than 50 million
gallons of SAF to initially fuel United flights out of
Amsterdam's Schiphol
Airport
Largest SAF agreement Neste has made with a
passenger airline
CHICAGO, May 10, 2022
/PRNewswire/ -- United, which has invested in more sustainable fuel
production than any other airline in the world, became the first US
airline to sign an international purchase agreement for sustainable
aviation fuel (SAF).
The airline has signed a new purchase agreement with Neste that
provides United the right to buy up to 52.5 million gallons over
the next three years for United flights at Amsterdam's Schiphol Airport, and potentially
other airports as well.
"Reducing carbon emissions from fuel is the fastest way United
will reach our 100% green goal by 2050. As the airline that has
invested more than any other airline in sustainable aviation fuel
production, it makes sense to expand our network of partners
internationally with a leading company like Neste," said
Lauren Riley, United's Chief
Sustainability Officer. "The demand from our customers to limit
their emissions from flying is growing exponentially, and this
agreement means that United customers flying from Amsterdam, and potentially more airports, will
be partners in our sustainability efforts."
Neste will provide United with 2.5 million gallons of SAF in
Amsterdam in the first year.
United will also have the right to purchase up to 20 million
gallons in the second year, and up to 30 million gallons in the
third year, at Amsterdam or other
locations that Neste can supply throughout the globe, as Neste
increases its SAF production.
This supply agreement is enabled by Neste's ambitious growth
strategy, which will see the company producing 515 million gallons
of SAF (1.5 million metric tons) per year by the end of 2023. Neste
has been producing and delivering SAF since 2011 and has a proven
track record of supplying SAF to customers in Europe, Asia
and the Americas.
"We're excited to be partnering with United in this milestone
purchase agreement and make our SAF available to United, also an
industry leader in SAF investments," said Thorsten Lange, Executive Vice President,
Renewable Aviation at Neste. "Our global, fast-growing SAF
production and supply chain supports airlines and their customers
in reducing greenhouse gas emissions. Neste is committed to helping
aviation transition to a more sustainable future, and we look
forward to expanding our cooperation with United."
SAF delivers the performance of conventional jet fuel but with a
significantly smaller carbon footprint on a lifecycle basis.
Neste's SAF reduces lifecycle greenhouse gas emissions ("GHG") by
up to 80% compared to conventional jet fuel and burns cleaner than
conventional jet fuel reducing non-CO2 emissions,
including particulate matter (PM). Neste MY Sustainable Aviation
Fuel™ is produced from 100% sustainably sourced renewable waste and
residue raw materials, including used cooking oil and animal fat
waste.
United has aggressively pursued strategic investments in SAF
producers and revolutionary technologies including carbon capture,
hydrogen-electric engines, electric regional aircraft, and urban
air mobility. United has invested in more SAF production than any
other airline globally.
United's 100% green commitment
Here are some of the ways United plans to make sustainability
the new standard in flight:
- In March, United invested in synthetic biology company
Cemvita Factory for them to begin R&D efforts to
bioengineer microbes with the express purpose of creating SAF.
- In December 2021, United
purchased an equity stake in hydrogen-electric engine developer
ZeroAvia, becoming the largest airline to invest in
zero-emission engines for regional aircraft.
- In December 2021, United became
the first in aviation history to fly an aircraft with passengers
using 100% SAF.
- In September 2021, United agreed
to purchase 1.5 billion gallons of SAF paired with an investment in
Alder Fuels - enough to fly more than 57 million
passengers.
- United is also an investor in Fulcrum BioEnergy, where
United has an option to purchase up to 900 million gallons of
SAF.
- In July 2021, United announced
that along with Breakthrough Energy Ventures and Mesa
Airlines, it 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 with zero
emissions when powered by renewable electricity.
- In July 2021, Air Transport World
magazine named United its Eco-Airline of the Year for the third
time.
- In February 2021, United
announced an agreement to work with Archer Aviation to
accelerate the development and production of their electric
aircraft – an urban mobility solution that has the potential to
serve as an 'air taxi,' giving United customers another opportunity
to reduce their carbon footprint before they even board a United
flight.
- In 2019, United operated the Flight for the Planet, which at
the time represented the most-eco-friendly commercial flight of its
kind in the history of commercial aviation.
- In 2018, United became the first U.S. airline to commit to
reducing its GHG emissions, by 50% by 2050. This goal has since
been superseded by the airline's 100% green net zero
commitment.
- In 2016, United became the first airline globally to use SAF in
regular operations on a continuous basis with SAF from World
Energy.
About United
United's shared purpose is "Connecting People. Uniting the
World." In 2019, United and United Express® carriers operated more
than 1.7 million flights carrying more than 162 million customers.
United has the most comprehensive route network among North
American carriers, including U.S. mainland hubs in Chicago, Denver, Houston, Los
Angeles, New
York/Newark, San Francisco and Washington, D.C. For more about how to
join the United team, please
visit www.united.com/careers and more information about
the company is at www.united.com. United Airlines Holdings, Inc. is
traded on the Nasdaq under the symbol "UAL".
About Neste
Neste (NESTE, Nasdaq Helsinki) creates solutions for combating
climate change and accelerating a shift to a circular economy. We
refine waste, residues and innovative raw materials into renewable
fuels and sustainable feedstock for plastics and other materials.
We are the world's leading producer of sustainable aviation fuel
and renewable diesel and developing chemical recycling to combat
the plastic waste challenge. We aim at helping customers to reduce
their greenhouse gas emissions with our renewable and circular
solutions by at least 20 million tons annually by 2030. Our
ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in
Europe by 2030. We are introducing
renewable and recycled raw materials such as liquefied waste
plastic as refinery raw materials. We have committed to reaching
carbon-neutral production by 2035, and we will reduce the carbon
emission intensity of sold products by 50% by 2040. We also have
set high standards for biodiversity, human rights and supply chain.
We have consistently been included in the Dow Jones Sustainability
Indices and the Global 100 list of the world's most sustainable
companies. In 2021, Neste's revenue stood at EUR 15.1 billion. Read more:
neste.com Follow Neste on twitter: @Neste_NA and on
LinkedIn.
United Cautionary Statement Regarding
Forward-Looking Statements
This press release contains certain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. All statements that are not statements of historical facts
are, or may be deemed to be, forward-looking statements. Such
forward-looking statements are based on historical performance and
current expectations, estimates, forecasts and projections about
our future financial results, goals, plans, commitments, strategies
and objectives and involve inherent risks, assumptions and
uncertainties, known or unknown, including internal or external
factors that could delay, divert or change any of them, that are
difficult to predict, may be beyond our control and could cause our
future financial results, goals, plans and objectives to differ
materially from those expressed in, or implied by, the statements.
These risks, assumptions, uncertainties, and other factors include,
among others, any delay or inability of United to realize the
expected benefits of the transaction. No forward-looking statement
can be guaranteed. Forward-looking statements in this press release
should be evaluated together with the many risks and uncertainties
that affect United's business and market, particularly those
identified in the "Management's Discussion and Analysis of
Financial Condition and Results of Operations" and "Risk Factors"
sections in United's Annual Report on Form 10-K for the year ended
December 31, 2021, as updated by our
subsequent Quarterly Reports on Form 10-Q, Current Reports on Form
8-K and other filings with the Securities and Exchange Commission.
The forward-looking statements included in this document are made
only as of the date of this document and except as otherwise
required by applicable law or regulation, United undertakes no
obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events,
changed circumstances or otherwise.
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SOURCE United Airlines