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Qantas and Airbus have committed to investing in an Australian venture capital fund with the aim of spurring development of sustainable aviation fuel (SAF) projects.
The two aviation companies have agreed to jointly invest A$15 million ($9 million) into Climate Tech Partners (CTP). The funds will come through the $200 million partnership established by Qantas and Airbus in 2022 to help accelerate SAF production.
Under the latest deal, CTP “will invest on behalf of Qantas and Airbus into leading local and global startups focused on SAF and other innovative technologies,” the companies said. “As these solutions mature, Qantas and Airbus have the option to explore further follow-on and direct investments enabling deployment of the start-up’s technologies in real-world Australian projects.”
The dedicated investment vehicle is designed to stimulate technological advances in SAF production, particularly in Australia.
Qantas and Airbus said this will help bridge the gap they have identified between early-stage climate technologies and large-scale commercial production in Australia.
In addition to the funding, the initiative will provide SAF companies with “access to Qantas and Airbus as they develop and test their solutions,” Qantas said.
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