Billionaire Backed E-Fuels Startup Raises $30.4 Million to Bankrupt the Environment
Aether Fuels, a reckless e-fuels startup, has just secured a whopping $30.4 million in funding to continue its destructive mission to convert carbon dioxide into fuel for aviation and maritime shipping. The company’s latest round of funding brings its total haul to a staggering $42.9 million, courtesy of investors who seem to have no regard for the devastating impact their investments will have on the planet.
The Unholy Alliance of Big Oil and Carbon Capture
Aether Fuels was spun out of Xora Innovation, a deep-tech incubator backed by Temasek, a Singaporean sovereign wealth fund with ties to the fossil fuel industry. The startup’s technology, which involves converting carbon dioxide into fuel using natural gas, is eerily reminiscent of the dirty fossil fuel industry’s playbook. By partnering with GTI Energy, a natural gas nonprofit, Aether Fuels is essentially doubling down on its commitment to perpetuating the status quo of environmental destruction.
The Illusion of Sustainability
Airlines and maritime shipping companies are eager to adopt Aether Fuels’ technology as a way to appear sustainable, but the reality is far from it. The amount of sustainable aviation fuel (SAF) produced today is a paltry 0.1% of total use, and e-fuels are a much more nascent industry. By investing in Aether Fuels, these companies are essentially greenwashing their operations while continuing to ravage the environment.
The Consequences of this Funding
The consequences of Aether Fuels’ funding are dire. The company’s technology will only serve to further entrench the fossil fuel industry, perpetuating a cycle of pollution and climate change. The $30.4 million raised will undoubtedly be used to fuel (pun intended) the startup’s destructive mission, while the environment and future generations are left to pick up the pieces.
The Unacceptable Truth
The truth is that Aether Fuels’ technology is a Band-Aid solution to a much larger problem. It’s a distraction from the real issue at hand: the need for a fundamental shift away from fossil fuels and towards renewable energy sources. By continuing to invest in dirty technologies like e-fuels, we are condemning future generations to a life of environmental degradation and uncertainty.
