AIR COMPANY, a carbon conversion technology company, has raised $69 million in Series B funding to advance its technology, promote energy security, and drive emissions reductions in hard-to-abate sectors, such as aviation.

Avfuel, a leading global supplier of aviation fuel and services, led the round and will be the preferred provider of distribution and logistics, plus environmental attribute tracking and reporting for AIR COMPANY.

Additional participants in the round included Lowercarbon Capital, IQT (In-Q-Tel), Alaska Airlines, Connecticut Innovation’s Climate Tech Fund, Duncan Aviation, JSSI, and the owners of Sheltair Aviation, among others. Existing investors Carbon Direct Capital, JetBlue Ventures, and Toyota Ventures also participated in the financing. As part of this investment, Avfuel will join the company’s board of directors.

The new capital will bolster AIR COMPANY’s engineering and R&D capabilities, accelerating the development of its advanced technology to meet increasing demand for clean fuels in both commercial and government sectors. AIR COMPANY is creating scalable sustainable aviation fuel (SAF) produced from carbon dioxide, which seamlessly integrates into existing aircraft and infrastructure. This investment represents a major advancement toward large-scale production of fully formulated, CO₂-derived SAF.

AIR COMPANY’s technology has been validated through partnerships across both public and private sectors, including previously announced SAF MOU agreements with major airlines and a $65-million contract with the Defense Innovation Unit.

In the process, AIR COMPANY’s electrolyzer splits water into hydrogen and oxygen. The created oxygen gas is released as clean air into the atmosphere, and the hydrogen gas is fed into its Carbon Conversion Reactor with captured CO₂.

The reactor is a tubular, fixed-bed flow system. The CO₂ and H₂ rise to each tube, which are filled with a patented catalyst. This facilitates a chemical reaction that produces a reactor liquid. The reactor liquid is composed of alcohols, alkanes and water.

A proprietary distillation process separates the components of the reactor liquid. The resulting impurity-free, carbon-negative AIRMADE chemicals and alkanes are funneled into separate totes. The water that is created is fed back into the electrolyzer to begin the process again.