Photo source: https://www.icao.int/environmental-protection/GFAAF/Pages/Project.aspx?ProjectID=46

Twelve, a startup focused on sustainable aviation fuel (SAF), has successfully raised $645 million in funding, marking one of the largest investments in clean jet fuel technology to date. This funding round was led by notable investors including TPG and Alaska Airlines. The company aims to produce SAF through an innovative process termed “industrial photosynthesis,” which utilizes carbon dioxide and renewable energy to create Power-to-Liquid e-SAF.

This method reportedly results in up to 90% lower lifecycle emissions compared to conventional jet fuels, without the extensive land and water use associated with biofuels. However, the primary challenge for scaling up Power-to-Liquid production remains its cost compared to conventional aviation fuel. The investment positions Twelve to expand its operations significantly, with plans for a new production facility in Washington state expected to begin operations next year.