Start-up Aether Fuels announced US$8.5 million in pre-Series A financing via convertible notes. The global syndicate includes JetBlue Ventures, the corporate venture capital (CVC) division of JetBlue, as well as TechEnergy Ventures (the CVC division of the Techint Group), Doral Energy Tech Ventures (the CVC division of Doral Energy), Foothill Ventures, and existing investor, Xora Innovation.

Aether Fuels is a spin out of Xora Innovation, a deep tech early-stage investment platform of Singapore-based global investment company Temasek (which, among its many other investments, has a 55% shareholding in Singapore Airlines and a 30% shareholding in Topsoe).

Aether is developing sustainable fuels to enable large industries such as aviation and ocean shipping to achieve net zero emissions. The fuel is made from low-cost and abundant waste carbon streams, such as captured carbon dioxide, industrial waste gases, municipal solid waste, agricultural residues, and waste biomass.

Aether’s process combines feedstock flexibility with maximum yield and reduces plant capital costs, enabling better unit economics while also meeting stringent sustainability criteria. Aether says that its innovations include novel process flows, plant configurations, catalysts, and equipment.

In March 2023, Aether acquired Sustainable Syngas LLC (SSG), a US-based company committed to developing carbon-neutral sustainable aviation and marine fuels projects. The deal merged Aether’s engineering capabilities and fuel-production technology innovations with SSG’s expertise in developing large energy projects.

Aether previously engaged SSG as its dedicated project developer for projects in the US. The transaction enables Aether to construct its first commercial plant faster, build its project pipeline, and forge key industry partnerships.

SSG was formed in 2022 to develop large-scale biomass gasification projects in the sustainable liquid biofuels sector. The team is comprised of energy and project veterans from Summit Power Group, Enviva, and BP, as well as the USDA Forest Service and the US Department of Energy. Their expertise ranges from project development and management, procurement, and contracting, to public and government affairs, ESG and stakeholder engagement.

Aether will use the funds to accelerate the development and scale-up of its proprietary production technologies, expand its demo facility in Chicago, and grow the global team.

Aether has principal offices in the US and Singapore.