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Aviation requires €55 billion per year in additional investments to develop net zero technologies for 2050.
The average contribution to reduce that funding gap is €5.5 per 100 kg of CO2, or roughly €22 per average return short-haul flight.
Skyfinity's non-profit fund will invest this in sustainable aviation companies that face difficulties from high capital investment in long development cycles.
Based on single one-way flights.
Flights are based on return/two-way flights.
Aviation represents around 2,6% of worldwide carbon emissions. Including non-CO2 emissions, aviation may be responsible for up to 4% of worldwide global warming impact.
As the world develops, aviation is expected to grow threefold, increasing the impact of aviation on global warming. Without new technology development and sustainable aviation fuels (SAF), aviation will triple its emissions by 2050, compared to 2019 (pre-pandemic levels).
We realize that flying allows important activities in our society, like reuniting us with our families, going on holidays abroad and carrying out business activities.
It also allows for transporting goods and medical supplies overseas that would otherwise perish if transported via other means of transport. However, we know that aircraft emit a large number of harmful elements to our atmosphere.
To be able to fly in the future without harming the environment, it is crucial to further develop sustainable flying technology.
Flying less could reduce aviation emissions by up to 10%, and waiting for incremental innovation to make flying more efficient would lead to a similar result. However, if we want to achieve true zero emissions then we need radical innovation to develop new flying technology at a much faster pace.
Developing new flying technology requires long development cycles and compliance with high safety regulations. These potential solutions fail to reach maturity due to a lack of funding. Start-ups that are developing these radical technologies are important contributors to enabling the sustainable aviation transition, but without solving this funding gap, the aviation industry will continue to fall behind its goals.
Skyfinity is on a mission to accelerate the development and implementation of sustainable aviation. We want to enable people and corporations to contribute (cash or airmiles) to a fund that will invest in sustainable aviation start-ups. You will become part of the solution and learn more about sustainable aviation, while start-ups gain access to more resources.
Your contribution is speeding up the time to market of green technologies and is, therefore, reducing tail emissions. The accelerated introduction of new technologies by any number of years will have a massive impact on reducing emissions that would have been otherwise produced by traditional kerosene airplanes.
Your contribution will go to the Skyfinity non-profit foundation. This foundation cannot generate profits. Regulations allow the fund to spend a maximum of 10% of the donations on the operational budget to manage and invest the funds, which means that over 90% of your contribution will create large impacts at start-ups. The operational budget allows us to execute our tasks, comply with all the regulations, and pay the wages of the employees at Skyfinity. In the initial stages, Skyfinity consists of a team that has many volunteers.
The foundation aims to help accelerate theaviation ecosystem to achieve emission-free targets for 2050, to stimulateknowledge sharing in the business community, knowledge institutions,governments, as well as everything that is related to the above in the broadestsense or can be conducive to it.
Reducing a financing gap faced by student projects, start-ups and scale-ups in their ambition to develop and bring to market 'emission-free aircraft technology'. The foundation notes that start-ups and scale-ups in the aviation industry working on new innovations have additional barriers to attracting sufficient capital. The development times in sustainable aviation are often longer than investment cycles of investment companies, due to the capital-intensive nature of the developments and high safety requirements. The foundation therefore particularly wants to support parties that have more difficulty raising sufficient capital due to the technical complexity, long development times and high security requirements. Since start-ups play an important role in testing and reducing risks ('de-risking') of new technologies, the foundation wants to help reduce this financing gap by offering 'patient capital' (long-term financing options that fit the development trajectories of aviation technology) and thus remedy this market failure to accelerate the aviation industry in the sustainable transition.
Proving that donating to technology development contributes to the acceleration of sustainable aviation and that contributions can be accepted in sustainability reports.
The foundation wants to achieve its goal by:
- Recruiting sponsors and donors
- Providing patient capital (long-term financing options) for start-ups and scale-ups that have the potential to make aviation more sustainable. Skyfinity engages by itself or via partners in deal sourcing, due diligence, investment. Preference is given to projects working on commercial aviation applications. The foundation does this by offering various financing options. Investments will be made on a revolving basis where possible so that it can be reinvested as soon as it becomes available again.
- Providing insights into the impact of the investments towards the people and organizations that have contributed to make them aware of the positive changes within the aviation industry through their contribution.
- Stimulating the exchange of knowledge and information.
- Offering start-ups certification expertise in the initial phase. In particular, startups working on radical technologies for which unambiguous regulations have not yet been written run a higher risk of additional design iterations. To prevent design iterations and to offer the startups a greater chance of success, the Foundation wants to offer this expertise to early-stage startups.
- The foundation wants to encourage contributions to this initiative to be included in (qualitative) sustainability reports for participating organizations, so that contributions can count towards scope-3 compensation reporting.
- Conducting publicity campaigns/experience days related to sustainable aviation and the foundation.
- The foundation has no profit motive. Any gains from investments will flow back into the fund to be reinvested.
Most standards only take CO2 emissions into account. Some standards use a fixed emissions per kilometre, for example IATA uses 9 grams per RPK. However, most standards account for the type and age of the aircraft, the distance flown and the number of seats an aircraft has. In the future when more complex models become the standard then non-CO2 effects can be considered as well. Skyfinity's emissions calculator is based on the latest available models.
Yes, it is in everyone’s best interest that these start-ups succeed. As a result, we will keep in close touch with them to follow up on progress made, accomplishments and lessons learnt, such that we can accelerate sustainable technology development.
We know that not every start-up will be successful. There is high risk and high return, and every venture capital fund works on this principle. Through our initiative we want to have an impact, we want to enable sustainable aviation start-ups with great ideas and great teams to overcome a finance problem. We want to give them every shot at success, but even then, some inevitably will fail, and we will be transparent about that. More importantly, other companies will have great successes and develop new technologies that will transform the way we fly sustainably. That is why we need to enable start-ups to develop these technologies, the sooner the better!
Yes, corporations can also contribute to the Skyfinity Foundation. We even have a dedicated offer for corporations.
See the Corporations Page for more information.
We have experts that understand the technology development paths and investments in sustainable aviation. We want them to make the most effective decisions. Furthermore, the fund will also set up advisory boards consisting of environmental protection groups , and technological steering advisory groups consisting of industry experts and researchers.
That said, in the future, we may add the option for the contributor to select where the contribution goes.
Skyfinity maximizes impact by offering a form of slow capital that suits this industry with long development cycles. We are setting up an investment thesis and technological roadmap to ensure that we are investing in the right projects. Furthermore, investment experts will effectively allocate capital to the highest professional standards.
No, absolutely not! We observe that the technology developers in the aviation industry have a harder time finding sufficient capital to develop their products. We want to offer them financing conditions that allow them to develop their products. We do this by offering a form of slow capital that can be invested for a longer time than traditional investment funds. We offer a variety of financing options (equity, safenotes, convertible bonds, loans). After a successful investment, the capital is returned and the profit will be reinvested in other start-ups. As an exception, we will donate some of the funds to student projects and other non-profit initiatives that develop technology that has the potential to decarbonize commercial aviation.
Our mission is to accelerate the decarbonization of aviation. We will therefore invest in companies that have the potential to become key in this transition. We are looking at companies that develop new propulsion technologies for aviation, new sustainable aircraft combinations, infrastructure adaptations, tech development for sustainable aviation fuels (SAF), scale-up of SAF and increasing green energy supply for the aviation industry.
We understand that everyone has a different financial situation. We believe that a large number of people coming together can change the world. Even a small contribution now can have a significant impact on enabling technology development. The earlier we invest the faster this new technology will be able to reach the market.
Transparency about the results of investments is key to its success, both about what is going well and what can be improved, is of paramount importance. We will do this with data, supporting and inspiring stories about our entrepreneurs, and blogs from experts. This info will be made available on our website.
We start the foundation in the Netherlands and therefore we can offer tax benefits to donors who are residing and working in the Netherlands. In the future, we will establish multiple funds all around the world to enable tax benefits for multiple countries.
We will provide you with a tax statement and share the information regarding the contribution with the relevant tax administrations for proper processing.
o A threshold and a maximum apply to the deduction of ordinary donations. You may deduct the amount above the threshold. But no more than the maximum amount.
o The threshold amount and the maximum amount of your ordinary donations depend on your threshold income. This is the total of your income and deductible items in boxes 1, 2 and 3, but without taking into account your personal allowance. If you file a tax return online, we have entered your threshold amount on the screen where you can deduct your donations.
o The threshold amount is 1% of your threshold income, but at least € 60. You may deduct what you gave more. Up to a maximum amount of 10% of your threshold income.
o There is no threshold for the deduction of regular donations. But from 1 January 2023, a maximum will apply. That maximum is € 250,000 per year.
o Did you make a periodic donation before 4 October 2022 at 4:00 PM? In that case, you can still fully deduct it in your tax return until 2027.
o Donations to public benefit institutions (ANBIs) and SBBI supporting foundations may be deducted from the profit. The deduction amounts to a maximum of 50% of the profit per year, with a maximum of €100,000. You must be able to prove the donations in writing.
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