MONTREAL--(BUSINESS WIRE)--Momentum Ventures, a Canadian company committed to creating, partnering with, and growing startups, has turned its attention to sustainable travel, recognizing the importance of addressing environmental concerns in the industry. With a new focus on investing in sustainable aviation products and services, the company is promoting green travel and supporting businesses that share its values.
Momentum Ventures has already made an investment of $5 million in a soon-to-be-announced private aviation company that is committed to products and services that reduce the carbon footprint of air travel. The investment represents a bold move by Momentum Ventures, which continues to seek out sustainable travel companies and start-ups to grow its portfolio.
"We believe that travel companies that address carbon concerns will ultimately win, and we want to invest and grow these businesses," said Matt Keezer, CEO of Momentum Ventures. "Our focus on sustainable travel is not just about doing what's right for the planet – it's also a sound business strategy. Companies that are committed to reducing their carbon footprint are more likely to succeed in the long run given the current environmental climate."
According to the David Suzuki Foundation, the aviation industry is responsible for 12 per cent of transportation emissions. Carbon emissions from the airline industry grew by 75 per cent from 1990 to 2012 and it's expected they will continue to grow rapidly until 2050. When taking these numbers in consideration, it is clear that reducing the carbon footprint of air travel is essential in the fight against climate change. Momentum Ventures' investment in sustainable aviation is part of a broader trend in the industry, with many travel companies and airlines recognizing the need to address carbon emissions and take action to reduce their impact on the environment.
"We're always on the lookout for new and innovative companies that share our commitment to sustainable travel," said Keezer. "We're excited to support businesses that are working to make travel more sustainable and environmentally friendly."
Momentum Ventures' dedication to sustainable travel extends beyond investing in companies that promote environmentally conscious travel. As part of its efforts to reduce its own carbon footprint, Momentum Ventures has implemented a range of eco-friendly programs for its employees, including the Drive Green program, which subsidizes its employees' monthly electric vehicle payments. Additionally, the company subsidizes monthly public transit passes, encouraging the use of public transportation as an alternative to driving.
"We recognize that we have a responsibility to do our part in promoting sustainable travel," said Keezer. "We're committed to reducing our own carbon footprint and making a positive impact on the environment."
Momentum Ventures' investment in sustainable travel companies is a strategic move that not only contributes to the protection of the planet, but also positions the company for long-term success in the travel industry. As the industry continues to evolve, it's clear that sustainable travel will be an increasingly important factor, and Momentum Ventures is well-positioned to make a positive impact.