Sustainable fuels technology company Aether Fuels announced it has raised $15 million in convertible note financing, with proceeds aimed at accelerating the development of its first commercial-scale sustainable aviation fuel (SAF) facility in Singapore.
Founded in 2022, Aether is developing technology aimed at decarbonizing aviation and maritime transport through the production of sustainable liquid fuels. The company’s Aurora technology creates fuel from any feedstock that can be converted to CO, CO2, CH4,or H2, such as captured carbon dioxide, industrial waste gases, biogas, gasified municipal solid waste and waste biomass.
The latest funding will be used to advance SAF production facility Project Beacon, a new 50-barrel-per-day facility, with a planned output of around 2,000 tons per year that will use Aether’s Aurora technology to convert industrial waste gas and biomethane into CORSIA-certified SAFs.
Engineering work at the facility is now underway, while construction is expected this year and commercial operations from 2028. The company anticipates greenhouse gas emissions reductions of more than 70% compared with conventional jet fuel.
Conor Madigan, Founder and CEO of Aether Fuels, said:
“Aether [closed 2025] with strong momentum across leadership, technology and project execution. First, we are thrilled to add Aster Ventures and Singapore’s EDBI as new investors. Second, over the past 12 months, we have expanded our global team and advanced our first commercial facility in Singapore, whilst simultaneously maturing and scaling our core technology through our pilot and demo projects in the US.”
The funding round included new investments from Aster Ventures and EDBI, alongside participation from existing backers such as AP Ventures, Xora Innovation, CDP Venture Capital, TechEnergy Ventures, Foothill Ventures, Eni Next and Chevron Technology Ventures. This brings Aether’s total funding to more than US$60 million.
Alongside the financing, Aether announced several leadership appointments to support execution and regional expansion. Stu Stott was named Global Vice President of Projects and will be based in Singapore, where he will oversee delivery of commercial-scale facilities. Mei Chia, who joined Aether in 2023, will lead a planned Singapore R&D center expected to open in 2026 and TC Goh will continue to lead business development across Southeast Asia.
