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Today: July 22, 2024
July 1, 2024
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Aether Fuels secures $34M to support global climate technology


TLDR:

  • Aether Fuels, a global advanced climate technology company, raises $34 million in Series A funding from a syndicate of global investors.
  • The funding will be used to accelerate the scale-up of Aether Aurora™, the company’s proprietary technology to create sustainable fuels for the aviation and ocean shipping industries.

Global advanced climate technology company Aether Fuels has secured $34 million in Series A financing from a syndicate of global investors. The round was led by AP Ventures and included other investors such as Chevron Technology Ventures, CDP Venture Capital, and Zeon Ventures. Aether Fuels, established in 2022 as a spin-out of Xora Innovation, plans to use the funding to accelerate the scale-up of Aether Aurora™, a technology that creates sustainable fuels for the aviation and ocean shipping industries.

Aether Aurora leverages innovations in chemistry, equipment, and process flows to slash plant investment and operating costs while driving up yield. The company plans to expand its research and development infrastructure, scale up its novel catalysts and process technology, and construct a fully integrated test production plant. The company will also develop commercial-scale production facilities in the United States and Southeast Asia to produce sustainable aviation fuel and other liquid fuels.

Aether Fuels envisions a net-zero world enabled by its breakthrough sustainable liquid fuel production technology and maintains principal operations in the United States and Singapore. The company’s CEO, Conor Madigan, highlighted the need to expand the supply of sustainable fuels and expressed gratitude for the support from investors. AP Ventures’ Kevin Eggers praised Aether’s innovative technology approach and noted the company’s exceptional team of energy experts and business leaders.


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