Lydian has raised $43 million in Series A financing to launch PIVOT, a modular production platform designed to reduce the cost of synthetic aviation fuel. Breakthrough Energy Ventures led the funding round. AP Ventures and Builders Vision participated alongside existing investors Congruent Ventures, Galvanize, Grok Ventures, Overture, Union Square Ventures and Voyager Ventures.
The investment represents the first announced deployment from the oneworld BEV Fund, a strategic vehicle supported by airlines and other members of the aviation industry.
Lydian said PIVOT can reduce plant capital costs by more than 50% compared with competing synthetic fuel technologies while cutting lifecycle emissions by as much as 95%.
The platform is designed to give project developers a standardized system for building and operating synthetic fuel facilities. It also creates a path for customers to purchase fuel directly from projects developed by Lydian.
Unlike large synthetic fuel facilities adapted from legacy gas-to-liquids technologies, PIVOT was designed specifically for low-cost renewable electricity and modern power markets.
The system combines proprietary reactors, catalysts, software, process design and other plant components within standardized, factory-built modules.
Lydian said the pre-engineered design could shorten project development timelines by as much as two years.
The platform can also adjust its operations around intermittent renewable power, allowing facilities to produce fuel when electricity costs are lower.
PIVOT produces ASTM-approved sustainable aviation fuel that can be used within existing aircraft and fueling infrastructure.
Lydian is currently operating a tonne-scale pilot plant at its research and development center in Boston.
The company is working toward a commercial demonstration facility expected to begin operating in 2028. Its first full-scale commercial project is targeted for 2030.
KEY QUOTES:
“PIVOT represents a fundamentally different approach to synthetic fuel production. By designing every part of the system for lower capital costs, greater operational flexibility and faster deployment, we’ve created a platform for commercially competitive synthetic fuel projects. This financing gives us the resources to bring that vision to market.”
Joe Rodden, CEO and Co-Founder of Lydian
“Decarbonizing aviation will require advanced fuels that compete on cost, work within today’s aviation infrastructure and deliver the performance flyers and airlines expect. Lydian is taking on that challenge with a purpose-built approach to synthetic aviation fuel production.”
“Its PIVOT platform combines strong technical innovation with a practical path to better project economics, offering the aviation industry a low-carbon fuel capable of cost-competitive, commercial-scale production.”
Carmichael Roberts, Breakthrough Energy Ventures
