RTTNews | Sep 9, 2021 08:09AM EDT

08:08 Thursday, September 9, 2021 (RTTNews.com) - 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.

Read the original article on RTTNews ( https://www.rttnews.com/3224473/united-honeywell-to-make-joint-multimillion-dollar-investment-in-alder-fuels-quick-facts.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved