Qantas and Airbus Invest $15M in Climate Tech VC
The airlines, in partnership with CTP, will help climate technology startups develop their promising technologies.
CTP's team, comprising industry experts, will guide startups and help them grow.
Qantas and Airbus have announced an investment of A$15 million in Climate Tech Partners (CTP), a venture capital (VC) fund focused on scaling climate technology.
The partnership's objective is to develop sustainable aviation fuel (SAF) and other aviation decarbonisation technologies in Australia. To this end, CTP is working with its corporate partners to identify and support technologies that cater to aviation needs and mitigate climate risks.
Patrick Sieb, Co-Founder, CTP said: “Working with global leading aviation and aerospace companies allows us to not only make more deeply informed investment decisions in this complex area but attract and support the best companies by helping them accelerate through industry engagement.”
READ MORE: Vietjet Takes Off First Flights with Sustainable Aviation Fuel
The fund will go towards SAF production, feedstock development, and other supply chain improvements.
Also, startups focused on climate and sustainable technologies will be given mentorship and strategic guidance through CTP's team, which includes experts from the energy and infrastructure industries.
Another principal goal is to bridge the gap between early-stage climate technologies and large-scale commercial production. On behalf of Qantas and Airbus, CTP will assume the responsibility of investing in promising startups in Australia and elsewhere, with additional support from the two companies as these technologies advance.
This project is part of their US$200 million partnership launched in 2022 to ratchet up SAF production.
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Airbus Chief Sustainability Officer Julie Kitcher said: “Decarbonising aviation at speed and scale requires bold action and collaboration across sectors – from airlines, manufacturers and airports to regulators, governments and investors.
"This partnership with CTP and Qantas highlights that the scaling of Sustainable Aviation Fuel needs innovative solutions for a nascent technology that will drive innovation, attract investment and create new jobs in Australia, which I believe is well positioned to be a leader in low carbon fuels. At Airbus, we are honoured to be partnering with Qantas and now CTP to transform aviation for the long term.”
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Source: CTP
