# Aether Fuels Pte.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/aether-fuels-pte

- Industry: Environmental Services
- Headquarters: Chicago, US
- Website: www.aetherfuels.com
- Total disclosed funding: $34M
- Latest round: Series A (Jun 27, 2024)
- Investors on record: 9

## About

Founded in 2022 by founder and CEO Conor Madigan, in Chicago, US, Aether Fuels Pte. Ltd. focuses on transforming waste carbon emissions into sustainable fuels. In January 2026, Aether Fuels Pte. Ltd. raised USD 15 million in venture debt funding from investors Aster Capital and SG Growth Capital, with participation from investors AP Ventures, Xora Innovation, CDP Venture Capital, TechEnergy Ventures, Foothill Ventures, Eni Next and Chevron Technology Ventures.

Aether Fuels specializes in the development of sustainable liquid fuels through its proprietary Aether Aurora technology. This innovative process economically transforms waste carbon emissions, such as CO2, CO, and hydrocarbons, into liquid fuels suitable for industries including aviation and ocean shipping. The Aether Aurora technology enables near-ideal carbon conversion efficiency, utilizing electrified syngas generation alongside efficient by-product recycling to achieve ultra-high yields. The company targets a wide client base, including aviation and shipping corporations committed to reaching net zero emissions by 2050, with a projected demand for one billion metric tonnes of sustainable fuel. Aether Fuels generates revenue through strategic partnerships and collaborations with companies in the aviation and maritime sectors. The business model includes B2B transactions, where clients engage in agreements for the procurement of sustainable fuels produced via the Aether Aurora process. These transactions often entail long-term supply contracts, ensuring reliable delivery of products to meet client sustainability goals. Aether Fuels' offerings, particularly sustainable liquid fuels for the aviation industry, are structured to accommodate increasing demand driven by governmental policies and corporate sustainability commitments, with pricing based on market dynamics and client needs.

The company will use the January 2026 funding to accelerate development of its first commercial-scale sustainable aviation fuel facility in Singapore.

## Funding rounds

- Series A, Jun 27, 2024, $34M — CDP Venture Capital, Chevron Technology Ventures, SKY VC, Foothill Ventures, AP Ventures, Xora Innovation, Doral Energy-Tech Ventures, TechEnergy Ventures, Zeon Ventures

## Investors

- CDP Venture Capital (https://capitalatlas.ai/funds/cdp-venture-capital) — Series A
- Chevron Technology Ventures (https://capitalatlas.ai/funds/chevron-technology-ventures) — Series A
- SKY VC (https://capitalatlas.ai/funds/sky-vc) — Series A
- Foothill Ventures (https://capitalatlas.ai/funds/foothill-ventures) — Series A
- AP Ventures (https://capitalatlas.ai/funds/ap-ventures) — Series A
- Xora Innovation (https://capitalatlas.ai/funds/xora-innovation) — Series A
- Doral Energy-Tech Ventures (https://capitalatlas.ai/funds/doral-energy-tech-ventures) — Series A
- TechEnergy Ventures (https://capitalatlas.ai/funds/techenergy-ventures) — Series A
- Zeon Ventures (https://capitalatlas.ai/funds/zeon-ventures) — Series A