WASHINGTON (dpa-AFX) - Southwest Airlines Co. (LUV) on Wednesday announced the launch of Southwest Airlines Renewable Ventures or SARV, a subsidiary dedicated to expanding opportunities for the airline to acquire sustainable aviation fuel or SAF.
The company stated that it will collaborate with SAF producers for SAF offtake agreements, while SARV will manage the airline's SAF-related investments, including its equity investment in SAFFiRE Renewables.
This move supports the company's aim to substitute 10% of its jet fuel consumption with SAF by 2030.
In addition, Southwest disclosed a $30 million investment in LanzaJet, Inc., a SAF technology provider known for its ethanol-to-SAF technology, as part of SARV's portfolio.
LanzaJet, in partnership with Southwest, plans to construct an ethanol-to-SAF facility to supply SAF primarily to the airline. This facility will have the capacity to convert SAFFiRE's cellulosic ethanol into SAF, increasing SAF production over time.
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