Silicon Valley electrofuels start-up Prometheus Fuels will sell 10 million gallons of zero net carbon Promethean Forged jet fuel to American Airlines.
Requiring no modification to existing engine technology or distribution and storage infrastructure, Promethean Forged fuels represent a like-for-like replacement for the fossil fuels used in the automotive, aviation and marine sectors, and can be produced both at scale and at a lower cost than conventional fuel.
In addition to the first major sales of its fuel to the carrier, Prometheus Fuels also inked an agreement with Maersk Growth, the venture arm of A.P. Moller – Maersk, the container logistics company. Maersk Growth led Prometheus Fuels’ Series-B, a funding round enabling the scale up of its zero net carbon fuel technology.
Prometheus Fuels makes its 100% zero net carbon fuels using a fuel production system called a Titan Fuel Forge, and using the Prometheus RAECR proprietary process that uses electrochemistry and nanotechnology to do what every internal combustion engine does when it burns fuel, but in the opposite direction – reverse combustion. Compared to fossil fuels, Promethean Forged fuels will not have the carbon emissions that come from fossil fuel exploration, extraction, refining, and long-distance transport. A single Titan Fuel Forge releases 16,000 metric tons of oxygen into the atmosphere per year – equivalent to the oxygen produced by 2.5 square miles of forest.*
“It’s the world’s first electro-SAF and the first SAF that can beat fossil fuels on price – our jet fuel costs one cent less per gallon than fossil fuel,” said Rob McGinnis, Founder and CEO of Prometheus. “Our zero net carbon jet fuel is superior to bio-SAF in every way. It doesn’t compete with food production – it comes from renewable electricity and air so its feedstock is limitless. Our electro-SAF is the only jet fuel that can reduce an airline’s net emissions by 100%, and do so in time to avoid catastrophic global warming.”
“We’re excited to partner with Prometheus to scale up the production of zero net carbon electrofuels,” said Doug Parker, American Airlines Chairman and CEO. “Their ability to produce 100% carbon neutral SAF at a price lower than fossil jet fuel and to not be limited in the scale of future production is the strongest indicator we’ve seen that a 100% carbon neutral aviation future can be achieved in time.”
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