On the eve of launching his latest aeronautical venture, Virgin America, Sir Richard Branson has reiterated his intention to plough his profits into fuel philanthropy.
Virgin’s latest airline starts flying tomorrow (8th August) between New York and San Francisco. And, as with every Virgin travel enterprise, profits from the low-cost carrier will be invested in Virgin Fuel - the recently launched Virgin company that aims to develop sustainable alternatives to fossil fuels in an effort to combat climate change and lessen aviation’s growing contribution to CO2 emissions.
When asked to elaborate on his more altruistic projects by CBS News anchorman Harry Smith earlier today, the 58-year-old entrepreneur said: “What we are hoping is that we can have fuels that we can use on our planes and on our trains, buses and cars that will not damage the environment. And that’s where all of our resources are going.”
Ever the businessman, however, Branson added that if Virgin Fuel - through its extensive research and investment of $3 billion over the next decade - can develop a viable alternative to gasoline, then he was sure the undertaking could make “a penny or two”.
Click here for a video clip of the full interview
