In a significant step towards revolutionizing the aviation fuel industry, AIR COMPANY, a leader in carbon conversion technology, has announced the successful completion of a $69 million Series B funding round. This investment, primarily led by Avfuel, a prominent global supplier of aviation fuel, is set to enhance AIR COMPANY’s capabilities in producing sustainable aviation fuel (SAF) derived from carbon dioxide.
The latest funding round included contributions from notable participants such as Lowercarbon Capital, IQT (In-Q-Tel), Alaska Airlines, and Connecticut Innovation’s Climate Tech Fund, along with support from existing investors including Carbon Direct Capital, JetBlue Ventures, and Toyota Ventures. As part of this investment, Avfuel will also join AIR COMPANY’s board of directors.
“The trust and support from our investors underscore our commitment to transforming the energy sector with a vision for a sustainable and resilient future,” stated Steve Jbara, AIR COMPANY’s Chairman of the Board.
The newly acquired funds will bolster AIR COMPANY’s research and development efforts, enabling the acceleration of its innovative technology to meet the increasing global demand for clean fuels in both commercial aviation and governmental sectors. AIR COMPANY is pioneering the production of scalable SAF from CO₂, a solution designed to seamlessly integrate into existing aircraft and fuel infrastructure.
Co-Founder and CEO Gregory Constantine and Co-Founder and CTO Dr. Stafford Sheehan highlighted the significance of this funding for the company’s future. “Our technology is designed to be modular to facilitate adoption and scalability,” said Constantine. Dr. Sheehan noted that the venture aims to enhance fuel supply chain flexibility while simultaneously strengthening energy security and fostering domestic job creation.
C.R. Sincock, Executive Vice President of Avfuel Corporation, acknowledged the critical need for sustainable aviation fuel in the face of rising aviation demands. “SAF represents a crucial pathway to decarbonization, and AIR COMPANY’s innovative CO₂-derived SAF technology stands out as a leading solution,” he stated.
AIR COMPANY’s groundbreaking technology has already garnered attention through partnerships with major airlines, including JetBlue and Virgin Atlantic, and contracts with government entities such as NASA and the U.S. Department of Defense’s Defense Innovation Unit. With accolades like the Green Chemistry Challenge Award from the Environmental Protection Agency and recognition from the World Economic Forum, AIR COMPANY is positioning itself as a vital player in the energy transition.
Editorial Perspective
AIR COMPANY’s commitment to addressing the aviation industry’s urgent need for sustainable fuel options cannot be overstated. The potential of converting carbon dioxide into usable fuel not only represents a leap forward in technology but also aligns with global efforts to combat climate change. By securing substantial investment and forming strategic partnerships, AIR COMPANY is paving the way for a more sustainable future in aviation.
The modular design of their technology presents a promising approach that can be adapted across various sectors, offering a model for scalability that other companies may well follow. As the world moves toward cleaner energy solutions, AIR COMPANY’s focus on carbon utilization positions it uniquely at the intersection of innovation and environmental responsibility. With their strategic planning and proven technology, the company is not just responding to industry needs; it is proactively shaping the future of sustainable aviation.
As we witness the growing momentum for sustainable practices across all industries, AIR COMPANY’s advancements in carbon conversion could serve as a benchmark for future innovations, driving significant change within the energy sector and beyond.
For further assistance or corrections, please reach out to editor@thetimesmag.com.
