Aether Fuels: News: Aether Fuels Secures $34 Million in Series A Financing
Summary
27, 2024Aether Fuels (Aether), an advanced climate technology company, today announced that it has secured $34 million in Series A financing from a syndicate of global investors. It is also highly flexible, enabling the conversion of a wide range of abundant waste carbon feedstocks into jet fuel and other liquid hydrocarbons and therefore overcomes the supply constraints faced by many other sustainable aviation fuel (SAF) production processes.We are pleased to add Aether to our portfolio of climate companies, and delighted to join this impressive syndicate, said AP Ventures Kevin Eggers. 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. The result: more product at vastly lower CapEx costs than existing approaches.Aether will use the new capital to further expand its world-class research and development (R&D) infrastructure, scale up its novel catalysts and process technology, and expand and accelerate the construction of a fully integrated 100 gallon-per-day (gpd) test production plant that builds on the successful operation of an existing 1.5 gpd pilot line. In addition, the company will begin developing a pipeline of commercial-scale production facilities that include projects in the U.S. and Southeast Asia to produce SAF and other high-value sustainable liquid fuels, in collaboration with select strategic partners.To facilitate this work, Aether and GTI Energy have partnered to establish an Aether R&D center within GTI Energys Chicago-area campus, where the existing 1.5 gpd line, and the 100 gpd plant under construction, are located.