- Singapore’s FlyORO raised $1.6 million to grow its sustainable aviation fuel blending tech.
- The funding enables expanding the on-demand service to Australia and the US in 2024.
- Timely financing supports wider adoption of FlyORO’s emissions-cutting airport fuel optimization.
Singapore-based FlyORO, which provides airports cheaper access to sustainable aviation fuels (SAFs), closed a $1.6 million Pre-Series A round this week. Audacy Ventures led the funding, with Investible and others participating.
Will it help the on-demand SAF?
SAFs emit less carbon over their lifecycle than conventional jet fuels and are made from plant oils, cooking oils, and other blend components. With aviation a major emissions contributor, SAF adoption is increasing, like an EU mandate for a 2% SAF airport supply by 2025.
However, high costs and delivery logistics limit SAF usage currently. FlyORO’s AlphaLite tech enables on-demand SAF blending and delivery near airports as needed, offering more flexibility.
Funding plans for 2024
FlyORO will direct the new funds towards expanding in the Australian and US markets later this year. The startup also plans another funding round after entering these new regions to spread its sustainability-focused fuel blending innovation further.
FlyORO’s timely financing injection empowers broader deployment of eco-friendly fuel blending optimization.
