Aether Fuels Raises $15 Million to Build Commercial SAF Facility in Singapore

Sustainable fuels technology company Aether Fuels has raised $15 million in convertible note financing to advance its first commercial-scale sustainable aviation fuel (SAF) facility in Singapore, Project Beacon, a 50-barrel-per-day plant targeting 2,000 tonnes of CORSIA-certified SAF per year with commercial operations from 2028. Total funding for the company now exceeds US$60 million.

Aether's Aurora technology converts feedstocks including captured CO2, industrial waste gases, biogas, gasified municipal solid waste and waste biomass into sustainable liquid fuels. Project Beacon will use Aurora technology to convert industrial waste gas and biomethane into CORSIA-certified SAFs, with engineering work now underway and construction expected this year. The company anticipates greenhouse gas emissions reductions of more than 70% compared with conventional jet fuel for fuels produced at the facility. Aether estimates a planned output of around 2,000 tonnes per year at the initial commercial-scale plant.

Singapore's strategic position as a major aviation hub and its policy environment supporting clean energy technology makes it a compelling location for Aether's first commercial SAF facility. The aviation sector is under increasing pressure from CORSIA requirements and national SAF mandates in the EU and UK to scale up low-carbon fuel supply, while SAF remains a small fraction of total jet fuel consumption globally. For Asian aviation markets, including India where international connectivity is growing rapidly and SAF production capacity is limited, Aether's Singapore facility could serve as a regional supply anchor and technology demonstration project.

The funding round included new investments from Aster Ventures and EDBI, Singapore's national investment firm, alongside existing backers AP Ventures, Xora Innovation, CDP Venture Capital, TechEnergy Ventures, Foothill Ventures, Eni Next and Chevron Technology Ventures. Alongside the financing, Aether appointed Stu Stott as Global Vice President of Projects based in Singapore, and announced plans to open a Singapore R&D centre in 2026. CEO Conor Madigan said the company closed 2025 with strong momentum across leadership, technology and project execution, with Project Beacon advancing alongside the maturation and scaling of Aether's core Aurora technology.

Key figure — More than 70% GHG emission reduction versus conventional jet fuel