Air Company, a carbon conversion technology company, secured $69 million in Series B funding to expedite its technology advancement.
This technology is intended to reduce emissions in difficult industries like aviation.
Avfuel, an aviation fuel provider, led the funding effort and supported the Air Company with distribution, logistics, and environmental characteristic tracking.
It will also be a part of Air Company’s environmental attribute tracking and reporting.
Lowercarbon Capital, IQT (In-Q-Tel), Alaska Airlines, Connecticut Innovation’s Climate Tech Fund, Duncan Aviation, JSSI, and the Sheltair Aviation owners are notable contributors in the investment round.
Additionally, the financing also included participation from long-term investors such Carbon Direct Capital, JetBlue Ventures, and Toyota Ventures.
Also read: Oxylus Energy Secures $4.5 Million Series Seed Investment for Carbon Utilization Technology
With the additional funding, Air Company can improve its scalable, sustainable aviation fuel (SAF) technology and enhance its engineering research and development capabilities.
Air Company has developed a process for converting carbon dioxide into SAF, providing a solution that works with current aircraft and infrastructure.
The investment is a step toward producing fully formulated, CO2 derived SAF, which can potentially transform the aviation sector’s decarbonization process.
CR Sincock, the Executive Vice President of Avfuel Coporation said, “The aviation sector faces a critical challenge in meeting the growing demand for sustainable aviation fuel.”
He added, “SAF represents a crucial pathway to decarbonization, and AIR COMPANY’s innovative CO₂-derived SAF technology stands out as a leading solution. By partnering with AIR COMPANY, Avfuel is committed to accelerating the widespread adoption of this high-performing fuel and driving meaningful emissions reductions across the industry.”
Also read: Climate tech company secures $34 million in Series A funding for production of SAF
Co-founded by Dr. Stafford Sheehan and Gregory Constantine, Air Company’s process of converting carbon dioxide into gasoline has been confirmed through cooperation with the public and private sectors.
This includes a $65 million contract with the Defense Innovation Unit and previously disclosed SAF Memorandum of Understanding (MOU) agreements with significant airlines.