Aether Fuels has raised $30.4 million of a $34.3 million spherical, in line with an SEC submitting.
The e-fuels startup is engaged on producing gasoline for aviation and maritime delivery utilizing carbon dioxide and different waste carbon streams. The brand new spherical would give the corporate’s checking account a wholesome bump; Aether Fuels had beforehand raised $8.5 million by way of convertible notes in late 2023.
The startup was spun out of Xora Innovation, an early-stage, deep-tech incubator run by Temasek. An organization spokesperson didn’t instantly reply to a request for remark.
Since then, Aether Fuels has been working to refine its know-how. The corporate says that its know-how can use carbon from a spread of waste streams, together with industrial air pollution, methane from landfills, and leftover plant particles from farms.
Not a lot is publicly identified about precisely how Aether Fuels converts carbon dioxide to fuels, although a patent software filed in January suggests the corporate is exploring one avenue that includes utilizing pure gasoline. The method gasifies stable waste, blends it with pure gasoline, after which transforms the combo right into a liquid gasoline (with any waste carbon dioxide captured alongside the best way).
In February, it introduced a deal that gave it entry to a gas-to-liquid program began by GTI Vitality, a pure gasoline nonprofit.
Airways and maritime delivery corporations have been pursuing bio-derived sustainable aviation gasoline (SAF) and e-fuels as a strategy to decarbonize their power intensive industries. Nevertheless, these efforts have been nascent at finest. The quantity of SAF produced right now, for instance, solely quantities to lower than 0.1% of whole use, and SAF is a way more mature business than e-fuels.
