Twelve logo

Twelve

Challenger

Twelve converts CO2 into sustainable aviation fuel and electrochemicals via renewable-powered CO2 electrolysis; raised $645M led by TPG in 2024 and secured a 14-year, 260M-gallon SAF supply agreement.

Best for: Carbon Transformation & Sustainable Aviation Fuel
Climate & EnergyCarbon Transformation & Sustainable Aviation FuelWebsiteUpdated May 2026

Company Overview

About Twelve

Twelve is a carbon transformation company that converts captured carbon dioxide into the chemicals, fuels, and materials typically made from fossil fuels. Based in Berkeley, California, Twelve''s core technology is CO2 electrolysis — an electrochemical process that uses renewable electricity, CO2, and water to produce hydrocarbons, the building blocks of jet fuel, plastics, and industrial chemicals. The company''s process is analogous to artificial photosynthesis, closing the carbon loop by turning emissions into products rather than releasing them into the atmosphere.

Business Model & Competitive Advantage

Twelve''s flagship commercial product is sustainable aviation fuel (SAF), which produces 90% fewer lifecycle emissions than conventional jet fuel. In September 2024, Twelve announced $645 million in funding led by TPG to scale CO2 transformation into jet fuel and electrochemicals at commercial scale. The company''s first SAF production facility, AirPlant One, is located in Moses Lake, Washington, and was expected to begin production in 2025 with an initial capacity of 50,000 gallons of SAF annually. Twelve secured a landmark 14-year contract to supply 260 million gallons of SAF to a European airline consortium spanning five carriers — one of the largest long-term SAF offtake agreements in the industry. United Airlines also announced an investment in Twelve in May 2025.

Competitive Landscape 2025–2026

Twelve competes in the sustainable fuels and carbon utilization space alongside LanzaTech (biofuel from industrial gases), Gevo (alcohol-to-jet SAF), and Infinium (e-fuels from CO2). Its differentiation lies in direct CO2-to-fuel conversion without biological intermediaries, using a single electrochemical step that can be scaled modularly alongside renewable energy capacity.

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Key Differentiators

Strong Challenger

Twelve is an established challenger with significant market presence and competitive offerings in Climate & Energy.

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