United Airlines Ventures Will Concentrate on Sustainability Concepts That Will Complement United's Goal of Net Zero Emissions by 2050
Sidley represented United Airlines on the launch of United Airlines Ventures, a corporate venture capital fund that will allow United to continue investing in emerging companies that have the potential to influence the future of travel. The new fund will concentrate on sustainability concepts that will complement United's goal of net zero emissions by 2050 - without relying on traditional carbon offsets - as well as revolutionary aerospace developments and innovative technologies that are expected to create value for customers and United's operation.
Sidley also recently advised United on other major agreements, announced in just the last six months, that will help further its efforts to be a leader in the adoption of new sustainable aviation technologies and innovations. Those include an agreement to purchase 15 of Boom Supersonic 'Overture' aircraft; an investment in, collaboration with, and agreement to purchase aircraft from Archer Aviation; an intent to make a multimillion-dollar investment in 1PointFive, Inc., as part of United’s pledge to reduce its greenhouse gas emissions by 100% by 2050, and the establishment of the Eco-Skies Alliance, through which major corporations work with United to expand sustainable flight.
The Sidley deal team included partners Kevin Lewis (Houston), Sandi Knox, and Rob Carlson (both Palo Alto), Joshua Thompson (New York), Suresh Advani (Chicago), David Kreisler (Boston); and senior counsel Brian Kaplowitz (New York); and associates Matthew E. Johnson (Palo Alto), and Anika Hermann Bargfrede (Chicago).
Additional information is available in the press release.