A Bill Gates Foundation fund invested $50 million in a startup that is constructing a massive refinery to convert alcohol into jet fuel

• ByStartupStory     |    October 22, 2022

Bill Gates’ foundation has given a startup $50 million to build a massive refinery that produces sustainable aviation fuel from alcohol. LanzaJet announced on Wednesday that it had received funding from the Gates-led Breakthrough Energy fund to continue construction of its first commercial plant in Soperton, Georgia. Airlines are investigating sustainable aviation fuel as a means of making the industry more environmentally friendly. Its adoption is currently hampered by the relatively low quantities produced.

Breakthrough Energy was founded by Bill Gates to spur innovation and investment in clean energy technology. According to Bloomberg, the $50 million grant comes from Microsoft Corporation, BlackRock Foundation, Builders Vision, and Gates. LanzaJet has already received millions of dollars in funding, including a $14 million grant from the US Department of Energy and a total of $200 million from backers including British Airways and Shell, according to Bloomberg. In January, Microsoft’s Climate Innovation Fund, which Gates also founded, contributed another $50 million to the project.

The Freedom Pines Fuel Plant in Soperton is scheduled to begin production in 2023. When fully operational, the plant will produce nine million gallons of sustainable aviation fuel and one million gallons of renewable diesel per year, according to LanzaJet. According to LanzaJet, the funds will help the company meet its development timeline for the plant, which will roughly double the amount of sustainable aviation fuel produced in the United States.

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