Carbon-to-fuel startup Twelve raises $45 million to expand its Washington plant
Twelve's AirPlant One facility in Washington state is the first commercial-scale US plant turning captured carbon dioxide into jet fuel, and it just secured fresh financing to expand.
Carbon transformation company Twelve has secured a $45 million credit facility to refinance construction and expand its AirPlant One facility in Moses Lake, Washington — the first commercial-scale plant in the United States making jet fuel from captured carbon dioxide. The facility runs entirely on hydropower and recently shifted from construction into full commercial operation.
Twelve's process converts captured CO2 and water into fuels and chemicals using renewable electricity. Its main product, called E-Jet, is a sustainable aviation fuel the company says can cut lifecycle emissions by up to 90% compared with conventional jet fuel; it also makes E-Naphtha, used in plastics and textiles.
Nicholas Flanders, the company's chief executive and co-founder, said the financing "reflects that shift, from construction phase to operating asset," giving Twelve capital to expand the site's capabilities. The company's next step is increasing hydrogen production capacity at the plant. Endurance Capital and Nomura led the credit facility.
Based on reporting by Kenny Fisher for ESG Today. Read the original: https://www.esgtoday.com/twelve-secures-45-million-financing-for-co2-based-clean-fuels-plant/
This article was produced with the assistance of AI tools and reviewed by an editor before publication.
