Air Company, a NYC-based carbon conversion technology company, raised $69M in Series B funding.
The round was led by Avfuel, with participation from Lowercarbon Capital, IQT (In-Q-Tel), Alaska Airlines, Connecticut Innovation’s Climate Tech Fund, Duncan Aviation, JSSI, the owners of Sheltair Aviation, Carbon Direct Capital, JetBlue Ventures, and Toyota Ventures. As part of this investment, Avfuel will join the company’s board of directors.
The company intends to use the funds to advance its technology, promote energy security, and drive emissions reductions in hard-to-abate sectors, such as aviation.
Co-founded by Gregory Constantine and Dr. Stafford Sheehan, Air Company has developed carbon conversion technology, which transforms CO₂ into a valuable resource. Its proprietary AIRMADE™ platform allows any industry to efficiently produce high-demand, fully-formulated synthetic fuels and chemicals from captured CO2 and hydrogen.
The technology has been validated through partnerships across both public and private sectors, including previously announced SAF offtake agreements with major airlines and a $65M contract with the Defense Innovation Unit.
FinSMEs
18/09/2024