Skift Take
Experts have their doubts about the development and scalability of renewable jet fuel, but many companies are trying to solve those problems.
Travel Startup Funding This Week
Each week we round up travel startups that have recently received or announced funding. Please email Travel Tech Reporter Justin Dawes at [email protected] if you have funding news.
Six travel startups have announced fundraises of nearly $104 million this week.
Dimensional Energy, which is developing a renewable aviation fuel made from carbon dioxide, has raised $20 million in series A funding.
The funding round was led by Envisioning Partners, with support from United Airlines’ Sustainable Flight Fund; Microsoft’s Climate Innovation Fund; RockCreek Group’s Smart Aviation Futures fund; DSC Investment; Delek US; New York Ventures; Climate Tech Circle; New Climate Ventures; Elemental Excelerator; Chloe Capital; Launch New York; and others.
Dimensional Energy said its technology can turn carbon dioxide emissions into aviation fuel, diesel fuel, and a synthetic paraffin wax that can be used in many everyday products.
The company has labs in Ithaca, New York, and a pilot plant in Arizona, as well as offices in Houston.
United last year said it agreed to purchase at least 300 million gallons of fuel from Dimensional Energy over 20 years, part of a string of deals the airline has been making with similar startups.
The latest funding will go toward development and scale of the product.
That includes construction of a plant that uses technology from Svante to capture carbon from the Lafarge Richmond Cement Plant in British Columbia, Canada.
The company plans to develop other plants globally with financing from Seneca Environmental and de