Aether Fuels Signs MOU with JetBlue

Agreement creates pathway for Aether to supply sustainable aviation fuel to JetBlue

CHICAGO, Sept. 23, 2024 (GLOBE NEWSWIRE) — Aether Fuels (Aether), a venture-backed climate technology company, today announced that it has signed a Memorandum of Understanding (MOU) with JetBlue (NASDAQ: JBLU). Aether has developed a breakthrough technology that utilizes a diverse array of waste feedstocks to produce sustainable liquid fuels at a lower cost and greater scale than existing approaches. The agreement creates a pathway for Aether to supply JetBlue with sustainable aviation fuel (SAF) when commercial production begins.

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The MOU extends Aether’s relationship with JetBlue that began when its venture capital subsidiary, JetBlue Ventures, invested in Aether’s convertible note and Series A financings.

Aether’s technology, known as Aether Aurora, uses a range of waste carbon feedstocks that do not compete with food or feed value chains. This critical “feedstock flexibility” differentiator enables the large-scale deployment of Aether Aurora technology and contributes to the breakthrough economics that are essential for sustainable liquid fuels, by enabling the conversion of numerous abundant waste carbon feedstocks into jet fuel. This overcomes the supply constraints faced by many other SAF production processes that rely on a limited type of often-scarce or cost-constrained feedstocks.

The technology, an enhanced version of the Fischer-Tropsch (FT) process, combines innovations in chemistry (catalysts), equipment (reactors), and novel process flow schemes that enable major process simplifications (intensification) when converting waste carbon streams, such as captured carbon dioxide, industrial waste gases, biogas, and treated agricultural residues, into liquid hydrocarbons. It is a robust, flexible, and efficient process engineered to deliver high yield and broad feedstock support at lower investment and operating costs.

This MOU is the first for Aether in the SAF space. It comes as the company’s team of expert technologists, in partnership with GTI Energy, are constructing a 100 gallon-per-day (380l/day) pilot line that builds on the successful operation of an existing 1.5 gallon-per-day (6l/day) pilot line. The work leverages eight years of technology development initiated by GTI Energy and accelerates the commercial deployment of Aether Aurora at scale.

In parallel, Aether is developing a pipeline of commercial-scale production facilities. This includes projects in the U.S. and Southeast Asia to produce SAF and other high-value sustainable liquid fuels in collaboration with select strategic partners.

“JetBlue is a leader in proactively transitioning to SAF so their interest in the company and the Aether Aurora technology is gratifying,” said Conor Madigan, Co-founder and CEO at Aether. “For a disruptive technology like ours, early and informed input from potential users, including airlines, can accelerate the ramp from R&D to commercialization. We are excited to engage with JetBlue and look forward to supporting their SAF vision.”

“Scaling up production of SAF is the essential challenge to solve for the decarbonization of aviation,” said Sara Bogdan, Managing Director of Sustainability and ESG at JetBlue. “Aether Fuels’ technology targets a key need. By enabling access to a much wider range of feedstocks than previously available, the new technology shows incredible promise to help SAF reach the commercial scale needed for the industry transition to renewable fuels. As our investment via JetBlue Ventures demonstrates, we are believers in the Aether technology and team, and we look forward to being part of that journey.”

Aether Aurora is trademarked by Aether Fuels.

About JetBlue

JetBlue is New York's Hometown Airline®, and a leading carrier in Boston, Fort Lauderdale-Hollywood, Los Angeles, Orlando, and San Juan. JetBlue, known for its low fares and great service, carries customers to more than 100 destinations throughout the United States, Latin America, the Caribbean, Canada, and Europe. For more information and the best fares, visit jetblue.com.

About Aether Fuels

Aether Fuels envisions a net-zero world enabled by its breakthrough sustainable liquid fuel production technology. We are developing highly scalable solutions that dramatically improve the unit economics of producing sustainable fuels for aviation and ocean shipping. Established in 2022 as a spin-out of Xora Innovation, a deep-tech early-stage investment platform of Temasek, we maintain principal offices in the U.S. and Singapore. For more information, visit www.aetherfuels.com or follow us on LinkedIn.