Alaska Airlines has registered a venture-capital subsidiary to invest in sustainable aviation technology.
The carrier aims to use the subsidiary, called Alaska Star Ventures, to accelerate its progress toward net-zero carbon emissions, which it has committed to reaching by 2040.
For its first investment, Alaska Star has partnered with UP Partners, a $230 million venture capital fund that is dedicated to seeding green mobility solutions.
UP Partners has also garnered investments from real estate developer Hillwood, ship-management company OSM Maritime; Woven Planet Group (the investment arm of Toyota) and Standard Industries, among other companies.
Alaska is the latest U.S. airline to establish a venture-capital subsidiary, joining JetBlue and United.