E-fuels startup Aether Fuels is raising $34.3 million, per filing

Aether Fuels, an e-fuels startup, has successfully raised $30.4 million out of a targeted $34.3 million round according to an SEC filing. Previously, the startup had raised $8.5 million via convertible notes in late 2023, providing strong momentum for its ongoing initiatives.

The company focuses on producing fuels for the aviation and maritime shipping sectors using carbon dioxide and other waste carbon streams. The technology leverages a range of waste sources like industrial pollution, methane from landfills, and leftover plant debris from farms to create sustainable fuels.

While details on the conversion process remain sparse, a patent application filed in January hints at a gasification approach involving natural gas and capturing CO2 along the way. In February, Aether Fuels also gained access to a gas-to-liquid program from GTI Energy. The company's efforts come as the aviation and maritime industries look to reduce carbon emissions, though adoption of sustainable aviation fuel (SAF) and e-fuels remains in its early stages.