Climate tech company secures $34 million in Series A funding for production of SAF
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Aether Fuels, a climate technology company, announced that it has secured $34 million in Series A financing from a syndicate of global investors.
The funds will be utilized to scale the company’s proprietary technology to boost the production of sustainable aviation fuels (SAF) and other green fuels.
AP Ventures led the funding round, which also included Chevron Technology Ventures, CDP Venture Capital, and Zeon Ventures.
Xora Innovation, the lead investor for Series Seed, and other current investors such as TechEnergy Ventures, Doral Energy-Tech Ventures, Foothill Ventures, and JetBlue Ventures participated in the investment.
Also read: Air New Zealand welcomes 500,000-litre shipment of SAF
AP Ventures’ Kevin Eggers said, “We are pleased to add Aether to our portfolio of climate companies and delighted to join this impressive syndicate. Aether stands out with an elegant and innovative technology approach that delivers superior economics. Aether has assembled an exceptional team of energy experts, business leaders, and serial entrepreneurs.”
He added, “Their differentiated go-to-market strategy and disciplined execution are informed by a collective record of building energy and fuel projects worth tens of billions of dollars. Aether is advancing at pace, and we are excited to support their growth.”
Also read: EIB and Cepsa sign €285 million loan agreement for biofuels plant
With the acquired $34 million, the technology company intends to boost the upgradation of Aether Aurora™, which is the company’s “proprietary technology” to create sustainable fuels for the aviation and ocean shipping industries”, according to the announcement.
Aether Aurora™ utilizes technology acquired from Aether’s strategic partner GTI Energy to achieve remarkable cost savings through an enhanced Fischer-Tropsch (FT) process.
This involves integrating advancements in chemistry (catalysts), equipment (reactors), and process flows to reduce both plant investment and operating costs while increasing yield.
The technology is highly adaptable, allowing the conversion of various abundant waste carbon feedstocks into jet fuel and other liquid hydrocarbons.
This capability addresses the supply limitations that many other SAF production processes encounter.
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