Aether Fuels, a Chicago, IL and Singapore-based advanced climate technology company, raised US$8.5m in pre-Series A financing via convertible notes.
The global syndicate included 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.
The company 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.
Led by CEO Conor Madigan, Aether leverages sustainable liquid fuel production technology to improve the unit economics of producing sustainable fuels for aviation and ocean shipping. 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.
Established in 2022 as a spin-out of Xora Innovation, a deep-tech early-stage investment platform of Temasek, the company maintain principal offices in the U.S. and Singapore.
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