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December 18, 2023
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Aether Fuels nets cool $8.5M before Series A finance round.

  • Aether Fuels raised US$8.5m in pre-Series A financing via convertible notes.
  • The funding included participation from JetBlue Ventures, the corporate venture capital division of JetBlue and others.
  • The funds will accelerate the development and scale-up of Aether’s proprietary production technologies, expansion of its demo facility in Chicago, and team growth globally.
  • The company produces sustainable liquid fuel from low-cost and abundant waste carbon streams.

Aether Fuels, an advanced climate technology company based in Chicago and Singapore, has successfully amassed US$8.5m in pre-Series A financing. The funds were procured via convertible notes that drew the interest of a global syndicate composed of JetBlue Ventures, the corporate venture capital (CVC) division of JetBlue, TechEnergy Ventures, Doral Energy Tech Ventures, Foothill Ventures, and Xora Innovation, which is an existing investor of Aether Fuels.

The capital raised will aid Aether in the acceleration of the development and scaling-up of its proprietary production technologies. Part of the accrued funds will also go into the expansion of the company’s demo facility situated in Chicago, along with enhancing the global team.

Aether Fuels, under the leadership of CEO Conor Madigan, is lauded for its cutting-edge sustainable liquid fuel production technology. This technology is designed to invigorate the unit economics of generating sustainable fuels that can be used for aviation and ocean shipping. The fuel production utilizes low-cost and abundant waste carbon streams. This includes captured carbon dioxide, industrial waste gases, municipal solid waste, agricultural residues, and waste biomass.

Originally established in 2022 as an offshoot of Xora Innovation, a deep-tech early-stage investment platform of Temasek, Aether Fuels has managed to carve out a global presence with principal offices in both the U.S. and Singapore.

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