Aether raises USD-34m to advance sustainable fuels tech

Aether Fuels has raised USD 34 million (EUR 31.6m) in Series A financing, which will help it accelerate the scale-up of its technology to make sustainable fuels for the aviation and ocean shipping industries.

The round was led by AP Ventures and also involved Chevron Technology Ventures, CDP Venture Capital and Zeon Ventures. Existing investors, including Series Seed lead investor Xora Innovation also took part, the company said last week.

Aether Fuels was set up in 2022 as a spin-out of Temasek’s investment platform Xora Innovation and has offices in the US and Singapore.

The company’s technology, Aether Aurora, uses technology licensed from Aether’s strategic partner GTI Energy. Via a transformed Fischer-Tropsch (FT) process, it aims to cut plant investment and operating costs, while increasing yield. The technology is described as offering feedstock flexibility, allowing projects to use captured carbon dioxide, industrial waste gases, biogas or treated agricultural residues.

Aether will use some of the funding to expand its research and development (R&D) centre, located within GTI Energy’s Chicago-area campus, and speed up the construction of a 100-gallon-per-day (gpd) test production plant. This under-construction plant builds on a 1.5-gpd pilot line at the R&D centre.

(USD 1 = EUR 0.931)

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