Sora Fuel, a climate technology company that makes jet fuel from air, water, and renewable energy, has closed a $14.6 million (€12.4 million) round. The round was co-led by Spero Ventures and Inspired Capital, alongside super pro-rata investments from Engine Ventures and Wireframe Ventures.

The new fund will support the construction and operation of Sora Fuel’s pilot production facility, designed to scale daily unit production of drop-in sustainable aviation fuel (SAF) from gallons to barrels. The company expects to reach this demonstration milestone within 18 to 24 months.

"Aviation is one of the largest industries in the world still almost entirely dependent on fossil fuels, and the regulatory and market forces driving the transition to sustainable fuel are only accelerating," commented Kamran Ali, Partner at Inspired Capital. "Sora Fuel has the rare combination of breakthrough science and a clear line of sight to commercial economics. That's what separates a research project from a company that can define a category."

“Sora Fuel has built something the clean fuels industry has been searching for: a technology that can actually reach unsubsidised cost parity with fossil fuels,” said Marc Tarpenning, Venture Partner at Spero Ventures, Sora Fuel board member, and co-founder of Tesla. ​“The team has demonstrated exceptional scientific rigor and engineering execution. Their approach to direct air capture and fuel synthesis is, to our knowledge, the first that makes an economically viable air-to-fuels pathway genuinely credible. We’re proud to lead this round.”