CHICAGO, June 30, 2015. United Airlines today announced an historic $30 million equity investment in California based alternative fuels developer Fulcrum BioEnergy, Inc., a pioneer in the development and commercialization of converting municipal solid waste into low-cost sustainable aviation biofuel. It is also the single largest investment by a U.S. airline in alternative fuels. In addition to the equity investment, United and Fulcrum have entered into an agreement that contemplates the joint development of up to five projects located near United’s hubs expected to have the potential to produce up to 180 million gallons of fuel per year.
“We know alternative fuels is an emerging industry that is vital to the future of aviation and this is just one of our initiatives to help make these fuels saleable and scalable,” said United’s Executive Vice President and General Counsel Brett Hart. “Investing in alternative fuels is not only good for the environment, it’s a smart move for our company as biofuels have the potential to hedge against future oil price volatility and carbon regulations.”
Based in Pleasanton, California, Fulcrum is leading the development of a reliable and efficient process for transforming municipal solid waste into a source of low-carbon transportation fuels including jet fuel and diesel. Fulcrum, a privately held company, has aligned itself with strategic feedstock, technology and fuel offtake partners to further strengthen the company’s innovative approach to commercially producing large volumes of renewable fuel from municipal solid waste while lowering greenhouse gas emissions and relieving the pressure on existing and future landfills.
Fulcrum’s technology converts household trash, known as municipal solid waste (MSW), into renewable jet fuel. Fulcrum has successfully developed and proven its technology to convert MSW into low-cost, low-carbon transportation fuels in an innovative, clean and efficient thermochemical process. MSW is an attractive biofuel feedstock as it is low cost, has limited volatility and a virtually unlimited supply.
Sometime this summer, a flight will take off from Los Angeles International Airport bound for San Francisco using fuel generated from farm waste and oils derived from animal fats stated NY Times.