Aviation Fuel Financing

Twelve secured a credit facility of up to $45 million, led by Endurance Capital and Nomura, to refinance its AirPlant One construction facility and fund expansion at the plant, its first commercial-scale E-Jet production site in Moses Lake, Washington. The facility uses Twelve's power-to-liquid technology to convert CO2, water and renewable electricity, powered entirely by Columbia River hydropower, into ASTM-certified sustainable aviation fuel. The financing marks AirPlant One's transition from construction to commercial operation, with Twelve now producing on-spec fuel and planning expanded hydrogen production capacity at the site. Alaska Airlines flights using Twelve's fuel are anticipated later this year, alongside continued E-Naphtha deliveries to industrial partners. Twelve's financing signals how specialized lenders are increasingly structuring capital around energy transition companies proving out first-of-their-kind production facilities at scale.