Aether Fuels has raised $30.4 million in a $34.3 million funding spherical, based on U.S. Securities and Change Fee (SEC) filings.
The e-fuels startup is working to harness carbon dioxide and different waste carbon streams to provide aviation and marine fuels. The brand new spherical of funding will present a wholesome increase to the corporate’s checking account; Aether Fuels beforehand raised $8.5 million through convertible notes in late 2023.
The startup was spun out of Xora Innovation, an early-stage deep tech incubator operated by Temasek Holdings. An organization spokesman didn’t instantly reply to a request for remark.
Since then, Aether Fuels has been working to excellent its know-how. The corporate says its know-how can harness carbon from a variety of waste streams, together with industrial air pollution, methane from landfills and leftover plant particles from farms.
Little is thought to the general public about precisely how Aether Fuels converts carbon dioxide into gas, though a patent utility filed in January suggests the corporate is exploring an method involving using pure gasoline. The method gasifies stable waste, mixes it with pure gasoline, after which converts the combination into liquid gas (capturing any waste carbon dioxide alongside the way in which).
In February, it introduced a deal that will enable it to take part in a pure gasoline liquefaction venture launched by pure gasoline nonprofit GTI Vitality.
Airways and maritime corporations have been seeking to bio-derived sustainable aviation fuels (SAF) and e-fuels as a option to decarbonise their energy-intensive industries. Nonetheless, these efforts are nascent at finest. For instance, right this moment the manufacturing of SAF accounts for lower than 0.1% of complete utilization, and SAF is a way more mature business than e-fuels.
