Sora Fuel Secures $14.6M for Sustainable Aviation Fuel Production Facility
Sora Fuel has raised $14.6 million to establish its first sustainable aviation fuel (SAF) production facility, utilizing direct air capture technology. This investment is significant for the aviation industry's decarbonization efforts amid rising demand for SAF amid regulatory developments in the UK and US.
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Sora Fuel has raised $14.6 million to develop its first sustainable aviation fuel (SAF) production facility, aiming to initiate operations within two years. The company employs a direct air capture (DAC) system that converts CO2 into synthesis gas for SAF production, achieving a cost reduction of around 90% compared to traditional DAC methods by bypassing sorbent regeneration.
The funding round was co-directed by Spero Ventures and Inspired Capital, with additional support from Engine Ventures and Wireframe Ventures. The UK's SAF mandate and increasing US demand for SAF highlight the urgency for cost-effective alternatives to standard aviation fuel, which remains more expensive.
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