Global climate technology firm Aether Fuels raised $34 M in Series A round
Global advanced climate technology company Aether Fuels has revealed that a syndicate of international investors has provided $34 million in Series A financing.
Chevron Technology Ventures, CDP Venture Capital, Zeon Ventures, and AP Ventures led the round, the company said in a statement last Friday.
Along with other current investors TechEnergy Ventures, Doral Energy-Tech Ventures, Foothill Ventures, and JetBlue Ventures, Xora Innovation led the Series Seed investment.
In 2022, Temasek’s deep-tech early-stage investment platform Xora Innovation spun out to form Aether Fuels.
With the help of this funding, Aether intends to quicken the expansion of its exclusive technology, Aether AuroraTM, which produces sustainable fuels for the aviation and maritime transportation sectors.
Using technology licensed from Aether’s strategic partner GTI Energy, Aether Aurora’s transformed Fischer-Tropsch (FT) process offers breakthrough economics by fusing advances in reactor design, chemistry (catalysts), and process flows to reduce plant investment and operating costs while increasing yield.
Additionally, because of its extreme flexibility, it can convert a variety of plentiful waste carbon feedstocks into jet fuel and other liquid hydrocarbons, overcoming the supply issues that many other processes that produce sustainable aviation fuel (SAF) face.
Building on the successful operation of an existing 1.5 gpd pilot line, Aether plans to use the additional funds to accelerate the construction of a fully integrated 100 gpd test production plant, expand its research and development (R&D) infrastructure, and scale up its innovative catalysts and process technology.
Additionally, in cooperation with a few key partners, the company will start building a pipeline of commercial-scale production facilities, including projects in Southeast Asia and the United States to produce SAF and other high-value sustainable liquid fuels.
In order to make this work easier, Aether and GTI Energy have teamed up to open an Aether R&D centre on the company’s campus in the Chicago area, which is also home to the company’s 100 gpd plant that is currently under construction and its 1.5 gpd line.
