United, JetBlue, Microsoft Among Backers of 3 Jet Fuel Startups for $36 Million
Photo Credit: Pictured: A United Airlines plane at Newark Liberty International Airport. Unsplash / Chris Leipelt
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Travel Startup Funding This Week
Each week we round up travel startups that have recently received or announced funding. Please email Travel Tech Reporter Justin Dawes at [email protected] if you have funding news.Six travel startups have announced fundraises of nearly $104 million this week.
Dimensional Energy, which is developing a renewable aviation fuel made from carbon dioxide, has raised $20 million in series A funding.
The funding round was led by Envisioning Partners, with support from United Airlines’ Sustainable Flight Fund; Microsoft’s Climate Innovation Fund; RockCreek Group’s Smart Aviation Futures fund; DSC Investment; Delek US; New York Ventures; Climate Tech Circle; New Climate Ventures; Elemental Excelerator; Chloe Capital; Launch New York; and others.
Dimensional Energy said its technology can turn carbon dioxide emissions into aviation fuel, diesel fuel, and a synthetic paraffin wax that can be used in many everyday products.
The company has labs in Ithaca, New York, and a pilot plant in Arizona, as well as offices in Houston.
United last year said it agreed to purchase at least 300 million gallons of f
