Twelve, a company focused on carbon transformation, has raised $645 million to advance its goal of producing sustainable aviation fuel (SAF) and e-chemicals at scale. This funding includes $400 million in project equity from TPG Rise Climate, $200 million in Series C financing, and $45 million in credit facilities. With this investment, Twelve plans to accelerate the construction of its first SAF plant, AirPlant One, located in Washington, and expand its patented E-Jet fuel technology. Twelve’s innovative process transforms captured CO2, water, and renewable energy into jet fuel, with lifecycle emissions 90% lower than traditional fossil fuels.
TPG Rise Climate, alongside other investors such as Alaska Airlines, Pulse Fund, and Microsoft’s Climate Innovation Fund, is backing Twelve's mission to decarbonize the aviation industry. By focusing on scalable SAF production and carbon-negative materials, Twelve aims to drive the systemic change needed to reduce reliance on fossil fuels. This strategic funding will also help Twelve meet the growing demand for SAF from airlines like British Airways and Alaska Airlines, contributing to the industry’s ambitious decarbonization goals while paving the way for a more sustainable future in aviation and beyond.
