Aether Fuels has secured USD 34 million (EUR 31.6 million) in Series A financing aimed at advancing its technology for producing sustainable fuels targeting the aviation and ocean shipping industries.
The funding round, led by AP Ventures and supported by Chevron Technology Ventures, CDP Venture Capital, Zeon Ventures, and existing investor Xora Innovation, underscores Aether's strategic push to scale up its operations.
Founded in 2022 as a spin-out from Temasek's investment platform Xora Innovation, Aether Fuels operates from offices in the US and Singapore. The company's flagship technology, Aether Aurora, leverages technology licensed from strategic partner GTI Energy.
Through an enhanced Fischer-Tropsch (FT) process, Aether Aurora aims to reduce plant investment and operational costs while maximizing fuel yield. Notably, the technology offers flexibility in feedstock utilization, capable of processing captured carbon dioxide, industrial waste gases, biogas, or treated agricultural residues.
A portion of the funding will be allocated to expand Aether's research and development (R&D) center at GTI Energy's campus near Chicago. Additionally, the company plans to accelerate the construction of a 100-gallon-per-day (gpd) test production plant, building upon a successful pilot line producing 1.5 gpd at its R&D facility.
The financing round is expected to bolster Aether Fuels' capabilities in advancing sustainable fuel technologies, addressing critical needs in the global transportation sectors.
