Fund with a focus on sustainable fuels, carbon dioxide purification and alternative propulsion Amadeus is ready to become one of the first investors in the fund.
Amadeus has signed a letter of intent (LOI) to invest in the first fund from Clear Sky, a global organization working towards sustainable aviation. The potential deal from the technology innovator is part of a broader ambition to build a more sustainable travel industry.
The Clear Sky Fund is focused on sustainable aviation fuel, carbon removal, alternative propulsion, ground operations innovation and materials recycling, and has the potential to invest hundreds of millions of dollars in various initiatives. The fund will invest in a variety of asset classes and in technology companies in venture capital, project infrastructure and underlying technology.
Simon Talling-Smith, Founding Partner, Clear Sky, says: ”At Clear Sky, we are delighted to have Amadeus, one of the biggest names in travel technology, join us on our journey towards reduced carbon emissions. Achieving sustainability in aviation requires the entire aviation ecosystem to work together, and this partnership is a perfect example of that.”
Clear Sky aims to work with the entire aviation ecosystem to drive the industry’s transition away from fossil fuels. For Amadeus, the potential partnership demonstrates a long-term commitment to building a sustainable aviation industry on the path to IATA’s Net Zero 2050 ambition.
Decius Valmorbida, President of Travel, Amadeus, adds: ”The journey towards sustainability in the travel industry is one we must undertake together. We can only achieve our goals through collaboration and the potential investment outlined today is a prime example of this approach in action. We believe that solutions such as alternative fuels and robust compensation mechanisms will be central to the future of travel and we are proud to partner with Clear Sky and its deep industry experience to play a leading role in this development.”
Clear Sky works to bring together a consortium of airlines, aircraft manufacturers, airport owners, travel technology companies, fuel and chemical companies, and financial and government institutions to mobilize resources and capital to build a more sustainable travel industry.
