AIR COMPANY, a leader in carbon conversion technology, has announced raising $69 million in its Series B funding round. The financing will help advance the company’s innovative technology, promoting energy security and reducing emissions in hard-to-decarbonize sectors, especially aviation. This round was led by Avfuel, a global supplier of aviation fuel, which will also provide distribution, logistics, and environmental attribute tracking for AIR COMPANY. Other participants included Lowercarbon Capital, IQT (In-Q-Tel), Alaska Airlines, Connecticut Innovation’s Climate Tech Fund, and Duncan Aviation, among others. Previous investors such as Carbon Direct Capital, JetBlue Ventures, and Toyota Ventures also took part in this funding.
Avfuel’s involvement signifies a crucial partnership for the company as it aims to scale its sustainable aviation fuel (SAF) production. Avfuel will join AIR COMPANY’s board of directors, bringing their industry expertise to drive the development and adoption of SAF. The funds raised will be directed toward expanding AIR COMPANY’s research and development capabilities, pushing forward the deployment of their technology to meet the rising demand for clean, sustainable fuels in both the commercial and governmental sectors.
AIR COMPANY, co-founded by Gregory Constantine and Dr. Stafford Sheehan, has developed a cutting-edge process that converts carbon dioxide into sustainable fuels. Their streamlined and energy-efficient technology can produce scalable SAF, which integrates seamlessly into current aviation infrastructure. This innovation positions AIR COMPANY as a key player in the effort to reduce aviation emissions, a sector notoriously difficult to decarbonize. Through partnerships with airlines and a $65 million contract with the Defense Innovation Unit, the company has already demonstrated the viability of its SAF solution.
Avfuel’s Executive Vice President, C.R. Sincock, highlighted the importance of SAF as a pathway to decarbonization, praising AIR COMPANY’s innovative approach. “The aviation sector faces a critical challenge in meeting the growing demand for sustainable aviation fuel,” Sincock said. “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.”
Co-Founder and CEO Gregory Constantine emphasized that AIR COMPANY’s technology is designed to be modular and scalable, allowing it to adapt to various fuel supply chains. Co-Founder Dr. Stafford Sheehan further noted that this flexibility strengthens energy security and encourages domestic job creation. The backing from prominent investors underlines the trust and confidence in AIR COMPANY’s vision for a sustainable and resilient future.
AIR COMPANY’s proprietary AIRMADE™ technology is an adaptable platform that converts CO₂ into high-demand, fully-formulated synthetic fuels and chemicals. The company has established partnerships with airlines like JetBlue and Virgin Atlantic and secured contracts with government agencies, including NASA and the Department of Defense.
The company’s efforts have garnered numerous accolades, including the Green Chemistry Challenge Award from the U.S. Environmental Protection Agency and recognition from the World Economic Forum for its contributions to sustainable aviation. AIR COMPANY’s success in carbon conversion technology is not only transforming energy sectors but also providing a crucial solution to global carbon emissions. With this new funding, the company is poised to further scale its operations and make a lasting impact on sustainable aviation and beyond.
