United invests in biofuel refinery
United Airlines announced a strategic investment in NEXT Renewable Fuels which is opening a biofuel refinery in Port Westward, Oregon.
Production will begin in 2026.
NEXT is a Houston-based company which hopes to produce up to 50,000 barrels per day of Sustainable Aviation Fuel.
United could invest as much as $37.5 million into NEXT.
“One of the biggest barriers is infrastructure, but NEXT’s strategic location and assets solve that problem,” said Michael Leskinen, President of United Airline Ventures.
“We believe this will not only bolster NEXT’s ambitions, but further demonstrates our commitment toward producing SAF.”
NEXT has secured an agreement with BP for sourcing 100% of its feedstock.
It marks UAV’s fifth SAF-related technology investment, and its first investment directly in a biorefinery.
UAV is a first-of-its-kind sustainability-focused ventures fund that targets startups t that will complement United’s goal of net zero emissions.