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Twelve has secured $645 million in funding to scale its technology that converts CO2 into sustainable aviation fuel and other essential chemicals. The investment will support the development of new facilities, including the first AirPlant in Washington, aimed at reducing carbon emissions in the aviation industry. Twelve’s broader vision includes expanding its technology across multiple sectors to replace fossil fuels with sustainable alternatives.
Massive Funding Pushes the Boundaries of CO2 Conversion
Twelve, a company dedicated to carbon transformation, has announced a significant milestone with the successful acquisition of $645 million in funding. The investment round is led by TPG Rise Climate, accompanied by contributions from other prominent entities like Capricorn Investment Group and Pulse Fund. This strategic infusion of capital is composed of $400 million in project equity, $200 million in Series C financing, and an additional $45 million through credit facilities. This financial boost marks one of the largest fundraising efforts in the e-fuels sector, underscoring the growing interest and confidence in Twelve’s innovative approach to CO2 conversion technology.
The funding aims to accelerate Twelve’s mission to replace fossil fuels with more sustainable alternatives. By harnessing carbon dioxide, a potent greenhouse gas, Twelve is focused on producing valuable products such as sustainable aviation fuel (SAF) and e-chemicals. This latest round of financing not only supports the company’s immediate operational goals but also strengthens its position as a leader in the emerging field of carbon transformation.
Scaling Up: The Future of Sustainable Aviation Fuel
Twelve’s AirPlant™ One, the first sustainable aviation fuel facility of its kind, is set to begin production in 2025 in Moses Lake, Washington. This plant will utilize Twelve’s patented technology to convert CO2, water, and renewable energy into E-Jet® fuel, a type of SAF. The expected lifecycle emissions of this fuel are up to 90% lower than traditional fossil jet fuels, making it a critical component in the aviation industry’s efforts to reduce its carbon footprint.
The company’s partnerships with key industry players like Alaska Airlines and International Aviation Group (IAG) further highlight the strategic importance of SAF in the future of air travel. These collaborations not only provide immediate customers for Twelve’s SAF but also help drive broader adoption across the aviation sector. As demand for sustainable fuels continues to rise, Twelve’s AirPlant One represents a significant step forward in meeting the industry’s ambitious decarbonization targets.
Strategic Vision: Expanding Beyond Aviation
While Twelve’s initial focus is on aviation, the company’s long-term vision extends far beyond. The technology developed by Twelve holds the potential to transform a wide range of industries that rely on fossil fuels for manufacturing processes. By converting CO2 into essential chemicals and materials, Twelve aims to play a crucial role in reducing carbon emissions across multiple sectors.
Future plans include the development of additional AirPlants, strategically located across the United States. These facilities will increase production capacity, enabling Twelve to meet the growing demand for sustainable fuels and chemicals. The company’s ability to scale its operations is supported by strong investor confidence, reflecting the broad market potential for Twelve’s CO2 conversion technology.
The recent funding round also underscores the significant market opportunities that lie ahead. Investors see Twelve’s technology as a scalable solution for industries seeking to reduce their reliance on fossil fuels. This broader market application is expected to drive further innovation and expansion, positioning Twelve as a key player in the global transition to sustainable energy.
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The Path Forward for Carbon Transformation
As Twelve continues to scale its operations, it faces both opportunities and challenges. The path forward will require navigating regulatory landscapes, securing additional financing, and ensuring that the technology can be deployed at a scale sufficient to meet global demands. However, the potential rewards are substantial, as the successful implementation of Twelve’s technology could significantly reduce global carbon emissions.
The impact of Twelve’s work on global decarbonization goals cannot be understated. By providing a viable alternative to fossil fuels, particularly in hard-to-decarbonize industries like aviation, Twelve is contributing to a broader effort to mitigate climate change. The development and commercialization of SAF and other e-chemicals represent critical steps in this process, offering a tangible solution to one of the world’s most pressing environmental challenges.
Looking ahead, Twelve’s continued innovation and expansion will be key to achieving widespread adoption of carbon transformation technologies. As the company builds out its network of AirPlants and strengthens its industry partnerships, it is well-positioned to lead the charge in creating a more sustainable future. The next few years will be crucial as Twelve moves from the development phase into full-scale production, with the potential to make a significant impact on both the aviation industry and the global fight against climate change.
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