Travel tech giant poised to become one of the first investors in fund
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Amadeus unveils investment proposal for debut Clear Sky sustainable aviation fund
Amadeus has signed a LOI with the intention to invest in the debut fund from Clear Sky, a global organization dedicated to sustainable aviation. The potential deal from the technology innovator is part of a wider ambition to build a more sustainable travel industry.
The Clear Sky fund is focused on sustainable aviation fuel, carbon removal, alternative propulsion, ground operation innovation and materials recycling.
The fund will do so on a multi-asset class basis, investing in technology companies in the venture space, project infrastructure and underlying technologies.
Simon Talling-Smith, founding partner of Clear Sky, said: “At Clear Sky we are excited to have Amadeus, one of the biggest names in travel technology, alongside us on the path to decarbonisation.
"Achieving sustainability in aviation will require the whole aviation ecosystem to work together, and this partnership is the perfect demonstration of that.”
Clear Sky has outlined ambitions to work across the aviation ecosystem to drive the decarbonization of the industry.
For Amadeus, the potential partnership is a step towards building a sustainable aviation industry that's in line with the IATA ambition of Net Zero by 2050.
Decius Valmorbida, president of travel of Amadeus, added: “The journey toward sustainability in the travel industry is one we must undertake together.
"We can only reach our goals collaboratively and the potential investment outlined today is an excellent example of this approach in action.
"We believe solutions like alternative fuels and robust offset 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 evolution.”
Clear Sky has said it is working to bring together a consortium of airlines, aircraft manufacturers, airport owners, travel technology companies, as well as fuel and chemical companies, and financial and sovereign institutions to mobilise resources and capital to build a more sustainable travel industry.
