Aether Fuels has secured $15 million in new funding to advance the development of its first large-scale sustainable aviation fuel facility in Singapore, strengthening momentum behind low-carbon fuel production for the aviation sector. The capital was raised through a convertible note round and will be directed toward accelerating Project Beacon, the company’s initial commercial-scale SAF project.

Founded in 2022, Aether Fuels focuses on cutting emissions from aviation and maritime transport by producing cleaner liquid fuels using its proprietary Aurora technology. The platform is designed to convert a wide range of feedstocks into fuel-ready molecules, including captured carbon dioxide, industrial waste gases, biogas, gasified municipal waste, waste biomass, methane, and hydrogen. This flexibility positions the company to operate across diverse industrial and regional contexts.

Advancing Project Beacon in Singapore

The new funding will primarily support Project Beacon, a planned SAF production facility in Singapore with a capacity of approximately 50 barrels per day, translating to around 2,000 tonnes of fuel annually. The plant is designed to use industrial waste gas and biomethane as feedstocks, producing SAF that meets international CORSIA sustainability standards.

Engineering work on the project is already underway. Construction is expected to begin later this year, with commercial operations targeted for 2028. According to company estimates, fuel produced at the facility could deliver lifecycle greenhouse gas emissions reductions of more than 70 percent compared with conventional jet fuel.

Read more: Morningstar Sustainalytics Wins Environmental Finance IMPACT Award for Sustainable Finance Research

Technology and Emissions Impact

Aether Fuels’ Aurora technology is central to its decarbonisation strategy. By enabling fuel production from multiple low-carbon and waste-derived inputs, the company aims to reduce reliance on fossil-based feedstocks while improving scalability and cost competitiveness. This approach aligns with growing airline and regulator demand for SAF solutions that can be deployed at meaningful volumes without competing with food or land use.

Investor Support and Funding Milestone

The latest round attracted new investments from Aster Ventures and Singapore-based EDBI, alongside continued participation from existing backers including AP Ventures, Xora Innovation, CDP Venture Capital, TechEnergy Ventures, Foothill Ventures, Eni Next, and Chevron Technology Ventures. With this raise, Aether Fuels’ total funding now exceeds $60 million.

Explore OneStop ESG Marketplace: Sustainable fuels

Leadership Expansion and Regional Growth

Alongside the financing, Aether Fuels announced several senior appointments to support project execution and regional expansion. Stu Stott has been named Global Vice President of Projects and will be based in Singapore to oversee delivery of commercial facilities. Mei Chia will lead a planned research and development centre in Singapore, scheduled to open in 2026, while TC Goh continues to head business development across Southeast Asia.

Founder and Chief Executive Officer Conor Madigan said the company has made steady progress over the past year, expanding its global team, advancing pilot and demonstration projects in the United States, and moving Project Beacon closer to construction.

Positioning in the SAF Transition

As aviation faces increasing pressure to decarbonise, investment in scalable SAF production remains a critical bottleneck. Aether Fuels’ Singapore project reflects both rising regional demand for compliant SAF and the strategic role of Southeast Asia in global aviation fuel supply chains. If delivered as planned, Project Beacon would mark a tangible step toward commercialising waste-based SAF at scale while supporting international climate commitments in aviation.

Explore ESG Solutions on our marketplace - OneStop ESG Marketplace.

Keep abreast of the top ESG Events on OneStop ESG Events.

OneStop ESG Educate: Your go-to source for top ESG courses and training programs tailored to your needs.

Stay informed with the latest insights on OneStop ESG News.

Discover meaningful career opportunities on OneStop ESG Jobs.