Aether Fuels raises US$8.5 million to develop sustainable fuels for aviation and ocean transport.
Aether Fuels (Aether), a sophisticated local weather expertise firm introduced US$8.5 million in pre-Collection A financing by way of convertible notes. The worldwide syndicate consists of JetBlue Ventures, the company enterprise capital (CVC) division of JetBlue, in addition to TechEnergy Ventures (the CVC division of the Techint Group), Doral Power Tech Ventures (the CVC division of Doral Power), Foothill Ventures, and current investor, Xora Innovation.
Aether makes sustainable fuels to allow massive industries like aviation and ocean transport to realize web zero emissions. The gas is constructed from low-cost and considerable waste carbon streams, akin to captured carbon dioxide, industrial waste gases, municipal stable waste, agricultural residues, and waste biomass.
Aether’s novel course of combines feedstock flexibility with most yield and slashes plant capital prices, enabling dramatically higher unit economics whereas additionally assembly stringent sustainability standards.
Aether will use the funds to speed up the event and scale-up of its proprietary manufacturing applied sciences, develop its demo facility in Chicago, and develop the worldwide staff.
Conor Madigan, Aether CEO stated:
We’re grateful to our buyers for his or her confidence in our expertise method and scalable international enterprise technique.
“Their assist caps a 12 months of breakthroughs that validated our expertise and crystallized our roadmap to commercialization. As well as, we appointed skilled sustainable gas executives to key R&D, operations, and engineering management roles within the U.S. and Singapore, and began planning for manufacturing scale-up. Due to our valued buyers, we enter 2024 with larger capability to innovate, execute, and drive progress.”
Ryan Chou, JetBlue Ventures’ Managing Director, stated:
Advances in sustainable expertise are essential to the long run and longevity of aviation.
“Aether’s staff first caught our consideration due to their novel expertise and credible go-to-market plan, and the potential of their improvements to drive considerably higher SAF unit economics motivated us to speculate. We’re happy to assist the staff of their subsequent section of progress.”
Alejandro Solé, TechEnergy Ventures’ Chief Funding Officer, stated:
Sustainable fuels are essential to the vitality transition and Aether brings a extremely differentiated method to the desk.
“Our diligence satisfied us that their skilled staff and core expertise, and specifically their feedstock flexibility, excessive yield, and deep course of intensification, will allow Aether to turn into an trade chief.”
About Aether Fuels
Aether Fuels envisions a net-zero world enabled by its breakthrough sustainable liquid gas manufacturing expertise. We’re creating extremely scalable options that dramatically enhance the unit economics of manufacturing sustainable fuels for aviation and ocean transport.
Established in 2022 as a spin-out of Xora Innovation, a deep-tech early-stage funding platform of Temasek, we preserve principal workplaces within the U.S. and Singapore. For extra info, go to www.aetherfuels.com or comply with us on LinkedIn.
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Aether Fuels Raises US$8.5 Million to Develop Sustainable Fuels for Aviation and Ocean Transport, CHICAGO, Illinois and SINGAPORE, December 14, 2023
