Air Company has signed a $65M deal with the U.S. Air Force to turn carbon dioxide into aviation fuel.
The company aims to test its solution in aircraft carriers.
- Air
Company creates its own green hydrogen through on-site electrolysis
using renewable energy. Its electrolyzer splits water into hydrogen and
oxygen and converts the released gas through its Carbon Conversion
Reactor.
- According to company officials, the startup aims to
help the U.S. Air Force learn how to use the company's technology and
make the fuel itself.
- In addition to its industrial use, this technology can also be used to create perfume, hand sanitizer, and vodka.
- The company is headquartered in New York and was founded in 2016.
- Since its inception, the company has raised a confirmed $35M.
- Air Company has refused to clarify whether a portion of this deal will be used as funding.
- Its previous backers include investors such as Toyota Ventures, JetBlue Ventures, Parley, Carbon Direct, etc.
