Aether Fuels has raised $30.4 million of a $34.3 million spherical, based on an SEC submitting.
The e-fuels startup is engaged on producing gas for aviation and maritime transport 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 variety of waste streams, together with industrial air pollution, methane from landfills and leftover plant particles from farms.
Not a lot is publicly recognized about precisely how Aether Fuels converts carbon dioxide to fuels, although a patent application filed in January suggests the corporate is exploring one avenue that entails utilizing pure gasoline. The method gasifies strong waste, blends it with pure gasoline after which transforms the combination right into a liquid gas (with any waste carbon dioxide captured alongside the best way).
In February, it announced a deal that gave it entry to a gas-to-liquid program began by GTI Power, a pure gasoline nonprofit.
Airways and maritime transport firms have been pursuing bio-derived sustainable aviation gas (SAF) and e-fuels as a method to decarbonize their energy-intensive industries. Nonetheless, these efforts have been nascent at finest. The quantity of SAF produced at this time, for instance, solely quantities to less than 0.1% of whole use, and SAF is a way more mature business than e-fuels.
