The increasing need to reduce carbon emissions drives many industries, including airlines and transportation, to seek sustainable alternatives to meet emission reduction targets and fulfill corporate social responsibility commitments. One of the solutions is sustainable aviation fuel (SAF), which can reduce greenhouse gas emissions by up to 80% compared to traditional jet fuel.
An Ithaca, New York-based company called Dimensional Energy produces sustainable aviation fuel from carbon dioxide emissions and water, and the company said today it has closed $20 million in a Series A round to ramp up renewable jet fuel production.
Envisioning Partners led the latest funding, which brings its total raised to $28 million, with strategic participation from investors including United Airlines’ sustainable flight fund, Microsoft’s climate innovation fund, RockCreek’s smart aviation futures fund, DSC Investment, Delek US, New York Ventures and existing investors like Elemental Excelerator and Chloe Capital.
“ The extraction and production of hydrocarbons has resulted in not only climate change but the displacement of indigenous people globally and myriad environmental catastrophes,” Dimensional Energy founder and CEO Jason Salfi told TechCrunch. “Dimensional Energy makes a replacement for oil from carbon dioxide and water. Dimensional is committed to sourcing feedstocks in balance with nature and communities where plants are built.”
An Ithaca, New York-based company called Dimensional Energy produces sustainable aviation fuel from carbon dioxide emissions and water, and the company said today it has closed $20 million in a Series A round to ramp up renewable jet fuel production.
Envisioning Partners led the latest funding, which brings its total raised to $28 million, with strategic participation from investors including United Airlines’ sustainable flight fund, Microsoft’s climate innovation fund, RockCreek’s smart aviation futures fund, DSC Investment, Delek US, New York Ventures and existing investors like Elemental Excelerator and Chloe Capital.
“ The extraction and production of hydrocarbons has resulted in not only climate change but the displacement of indigenous people globally and myriad environmental catastrophes,” Dimensional Energy founder and CEO Jason Salfi told TechCrunch. “Dimensional Energy makes a replacement for oil from carbon dioxide and water. Dimensional is committed to sourcing feedstocks in balance with nature and communities where plants are built.”
