Japanese Investors Back US Startup's Bid to Decarbonise Aviation Fuel
Twelve, a California-based startup, has secured a late-stage venture round from a group of Japanese investors. The funding will support the development of its commercial demonstration-scale plant in Moses Lake, Washington.
The facility is expected to start operations in 2025 and produce E-Jet SAF, a sustainable aviation fuel that can be used in existing aircraft with up to 90% lower lifecycle emissions than fossil-based fuel.
Japanese backers Development Bank of Japan, Mitsui & Co., Mitsui O.S.K. Lines, Toppan Global Venture Partners, and Advantage Partners see the potential for this technology to contribute to global decarbonisation.
The involvement of shipping and trading giants in the deal signals strategic interest from Japan in securing sustainable aviation fuel supply.