Carbon transformation company Twelve has announced $645 million in funding to produce jet fuel, e-chemicals, and other fossil fuel derived products.
The round is one of the largest ever for the e-fuels industry, with $400 million in project equity led by TPG Rise Climate, $200 million in Series C financing, and $45 million in credit facilities.
Twelve’s E-Jet® SAF is produced from CO2, water and renewable energy. It has up to 90% lower lifecycle emissions than conventional jet fuel.
With this investment, Twelve will finish construction of AirPlant One, their first sustainable jet fuel facility located in Washington. Production is planned for 2025.
