Alaska Airlines launches investment arm to accelerate progress to net zero
Alaska Airlines announced the creation of Alaska Star Ventures, a new LLC focused on investing in technology to achieve net zero carbon emissions by 2040. This initiative aims to spearhead sustainable aviation innovations through strategic partnerships, beginning with an investment from UP.Partners, which specializes in mobility technology.
CEO Ben Minicucci emphasized the airline's commitment to sustainability, while VP Diana Birkett Rakow highlighted the collaborative approach needed for effective decarbonization. Alaska's ongoing sustainability efforts include advancements in artificial intelligence and the use of sustainable aviation fuels.
- Formation of Alaska Star Ventures to invest in sustainable technologies.
- Partnership with UP.Partners to enhance sustainable aviation innovations.
- Commitment to achieve net zero carbon emissions by 2040.
- Existing sustainability measures include onboard recycling and reducing plastic use.
- None.
SEATTLE, Oct. 18, 2021 /PRNewswire/ -- Today, Alaska Airlines announced the formation of a new LLC, Alaska Star Ventures, to advance emerging technology that will accelerate the airline's progress toward net zero carbon emissions.
"To live our purpose and create an airline people love, we must operate every day in a way that cares for both people and the environment," said Alaska Airlines CEO Ben Minicucci. "To do that, we are seeking technologies that will accelerate our mission to build a more sustainable future for the aviation industry."
For the inaugural investment by Alaska Star Ventures, the company partnered with UP.Partners, an early-stage investor in sustainable, multi-dimensional mobility technologies that are transforming the moving world.
"The future of aviation is a collaborative effort between founders, funders, builders and key stakeholders - like Alaska Airlines," said Cyrus Sigari, UP.Partners' co-founder and managing partner. "With transportation as the underlying fabric of society, selective and values-driven investments that move the industry toward sustainable aviation are key. We're proud to partner with such a mission-aligned group that is launching today: Alaska Star Ventures."
"We're proud of our ambitious targets and our legacy of being pioneers, but we also know we can't fundamentally decarbonize and achieve net zero carbon emissions alone," said Diana Birkett Rakow, Alaska Airlines' vice president of public affairs and sustainability. "That's why we're focused on discovering, partnering with, and enabling technologies that will allow us to take real and meaningful steps on our five-part path to net zero now and in the years ahead. We're thrilled to partner with UP.Partners on our first project and are fortunate to have aviation veteran Pasha Saleh leading corporate development to successfully launch and grow this initiative."
Alaska announced in April its commitment to reach net zero carbon emissions by 2040 with a five-part strategy to decarbonize. Alaska's deployment of Flyways, artificial intelligence and machine learning software that supports our dispatchers' route optimization efforts, inspired the pursuit of additional technologies to accelerate our path to net zero and enable efforts of Alaska employees across our system.
The company's commitments to reduce its impact on carbon, waste and water build on a track record of progress in environmental sustainability including industry-leading onboard recycling, eliminating plastic straws and stir sticks, enabling touchless and paper-less guest experiences through technology, advancing the use of sustainable aviation fuels, and partnering with the Boeing ecoDemonstrator program to evaluate and test sustainability-focused technology.
About Alaska Airlines
Alaska Airlines and its regional partners serve more than 120 destinations across the United States and to Mexico, Canada and Costa Rica. The airline emphasizes Next-Level Care for its guests, along with providing low fares, award-winning customer service and sustainability efforts. Alaska is a member of oneworld. With the global alliance and the airline's additional partners, guests can travel to more than 1,000 destinations on more than 20 airlines while earning and redeeming miles on flights to locations around the world. Learn more about Alaska at newsroom.alaskaair.com and blog.alaskaair.com. Alaska Airlines and Horizon Air are subsidiaries of Alaska Air Group (NYSE: ALK).
About UP.Partners
Transportation is the underlying fabric of society. UP.Partners invests in the key enabling technologies that help move people and cleaner, faster, safer, and cheaper – in a multi-dimensional world. We partner with some of the world's most innovative investors and companies – including Alaska Airlines, Ark Invest, Boeing, Honeywell, Sixt and Toyota subsidiary Woven Capital – and via the UP.Summit convene the mobility community's brightest minds each year to make these dreams a reality. Together we are transforming the moving world. For more information, visit UP.Partners or follow us on Twitter @UpPartnersVC or LinkedIn.
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SOURCE Alaska Airlines
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