The airline industry is considered to be the most difficult to decarbonize. Investment bank Jefferies said last year that renewable aviation fuel is less than 0.1% of current global jet fuel demand of 330 million tonnes in 2019. Governments and investors are seeking to increase incentives for low-carbon jet fuel production.

Chicago-based Lanza Jet said it has almost completed on-site engineering at its Freedom Pines Bio-refinery with plans to start producing 10 million gallons of sustainable aviation fuel (SAF) and renewable diesel per year from sustainable ethanol, including from waste-based feedstocks, in 2023. 

Major oil companies, airlines and other petroleum trading companies, including Suncor Energy Inc., British Airways and Shell, are also funding the company. The White House said last year that it wants to reduce aviation emissions by 20 percent by 2030, as airlines face pressure from environmental groups to reduce their carbon footprint.

The Biden administration has demanded tax credits for the production of sustainable jet fuel as part of its Build back Better legislation, which is currently stalled in Congress. The European Union aims to increase the amount of SAF in petroleum jet fuel to 63% by 2050.

Microsoft created the Climate Innovation Fund in 2020 to invest US $ 1 billion over the next four years to accelerate the development of carbon removal technology.

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