Air Company, designer of a platform to produce synthetic fuels and chemicals from captured CO2 and hydrogen, announced that it had secured $69 million in Series B funding to advance its technology to reduce emissions in areas that until now have proven difficult to manage, including aviation.

Currently, most sustainable aviation fuel (SAF) is produced from plant-based feedstock, which can present supply challenges, and may compete with the food chain with and present potential negative environmental consequences, including deforestation and use of arable land that could have been used to produce edible crops. Air Company’s solution avoids those issues by using a patented platform that converts carbon dioxide that would have otherwise been released into the atmosphere into sustainable fuels. The company’s solution produces viable SAF, and 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.

Air Company said that the funding would be used to bolster its 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.

“Our technology is designed to be modular to facilitate adoption and scalability,” said Gregory Constantine, Co-Founder and CEO of Air Company. Co-Founder Dr. Stafford Sheehan, Air Company’s President and CTO, added that, “this adds flexibility to fuel supply chains, strengthens energy security, and fosters domestic job creation.”

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. Assisting in the funding were a number of companies and institutions, including Lowercarbon Capital, IQT (In-Q-Tel), Alaska Airlines, Connecticut Innovation’s Climate Tech Fund, Duncan Aviation, JSSI, and the owners of Sheltair Aviation. 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.

C.R. Sincock, Executive Vice President of Avfuel Corporation, said:

“The aviation sector faces a critical challenge in meeting the growing demand for sustainable aviation fuel. SAF represents a crucial pathway to decarbonization, and Air Company’s innovative CO₂-derived SAF technology stands out as a leading solution. By partnering with Air Company, Avfuel is committed to accelerating the widespread adoption of this high-performing fuel and driving meaningful emissions reductions across the industry.”