Two Chicago companies working to accelerate the shift to cleaner jet fuel — one a young spinout and another a longtime aviation industry giant — were named to Time's 100 Most Influential Companies of 2024 list.
Last year, Chicago-area company LanzaTech, a clean-tech company that went public in 2022, made the list due to its carbon recycling solution. This year LanzaJet, a spinout of LanzaTech, made the list.
The other Chicago-area business on Time's list of most influential companies this year? United Airlines.
LanzaJet opened the world's first ethanol-to-sustainable aviation fuel plant in 2024 and is fueling aviation change, Time said.
The American news magazine indicated that LanzaJet's ethanol-to-SAF conversion technology could be the kind of solution that airlines around the world are looking for as they try to shrink their carbon footprints. The Biden administration set a goal in 2021 for the U.S. to produce 3 billion gallons of sustainable aviation fuel (SAF) annually by 2030.
LanzaJet expects to convert ethanol to produce 1 million gallons of "renewable diesel" and 9 million gallons of SAF at its new site, and the company was one of 40 to join the Sustainable Aviation Fuel coalition with the goal of rapidly scaling investment in the SAF sector as well as advocate for incentives and policies necessary to build the marketplace.
Jimmy Samartzis, CEO of LanzaJet, said in statement on Thursday that the startup's inclusion in the Time100 affirms the company's commitment to building a more sustainable future for generations to come.
Meanwhile, United Airlines also made the Time100 as a leader for its work in "seeding greener fuel."
"United says it has invested in the future production of 5 billion gallons of SAF, more than any other airline in the world," Time wrote.
United Airlines launched a $100 million investment vehicle last year targeting SAF technology and startups. That fund now has more than $200 million investments from the airline as well as corporate partners including Google, Boeing and Air New Zealand, and United customers have also chipped in nearly $500,000.
