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Low-carbon fuels tech firm raises $168m

The fundraise will enable ClearSky Global to commercialize three facilities, which use a technology that converts natural gas to lower carbon diesel and jet fuel.

Canada-based ClearSky Global Corp. (ClearSky) has raised US$168 million from a private international ESG investment group, facilitated by Tailwind Ventures as financial advisor.

The financing represents the 5th largest early-stage venture capital raise in the clean fuels space globally, the company said in a news release.

ClearSky plans to use the funding to deploy ECOGY® technology to produce high-quality, low-carbon, and economically viable aviation and transportation fuel.

This technology combines proprietary and commercially proven technology to convert natural gas to both diesel and jet fuel that ClearSky believes is of a superior quality compared to conventional fuels. ClearSky fuels can be produced at a lower cost than biofuels and refined petroleum fuels. The use of ClearSky fuels has the potential to significantly reduce greenhouse gas (GHG) emissions, and harmful particulate matter. ClearSky’s facilities are modular and compact with superior energy conversion technology, designed to be placed at airports or other strategic locations.

This significant financial milestone will enable ClearSky to commercialize its first three facilities, which will enable its customers in multiple industries to accelerate their sustainability goals and emissions-reduction targets. With this rapid deployment, ClearSky believes that the impact of this technology will be measurable in the near-term and stands to become a material solution for emissions reduction once operational.

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