GE, one of the world’s best-known conglomerates has swooped to buy a British climate technology start-up in its quest to reduce the aviation industry’s environmental impact.
Sky News has learnt that GE Aerospace has struck a deal to buy Satavia, a Cambridge-based company which helps to mitigate the warming effect of aircraft contrail clouds.
Founded in 2013, Satavia was originally conceived in an attempt to protect aircraft engines from harmful substances such as dust, ice and volcanic ash.
It now operates a software subscription service and carbon credits business model which aims to attract 25 airline customers before the end of the decade.
The company, run by chief executive Adam Durant, counts Etihad Airways, the Abu Dhabi carrier, among its commercial partners.
Satavia was backed by Campden Hill Capital, a venture capital and investment advisor of a family office.
The value of the transaction was unclear on Friday evening.
More from BusinessIts acquisition by an arm of GE underlines the search for innovative tech companies by major global companies which are seeking an edge in efforts to address the impact of their operations on climate change.
“GE Aerospace continues to explore ways to help the industry meet its net-zero ambitions and reduce air travel emissions, ” a spokesman for GE said.
Advertisement“Satavia contrail management and forecasting service joins GE Aerospace’s across-the-board approach for a more sustainable future of flight that includes more efficient jet engine technologies, alternative fuels testing, and software solutions for optimizing aircraft operations.”