Twelve

What Twelve does

Twelve is a Berkeley, California-based climate technology company founded in 2015 that converts captured carbon dioxide, water, and renewable electricity into drop-in fuels and chemical feedstocks via a proprietary Power-to-Liquid electrochemical platform. The core technology is the Opus CO2 Electrolyzer stack, built around the proprietary Leaf membrane electrode assembly (MEA), which it deploys inside modular production facilities branded as AirPlant. Its first commercial-scale plant, AirPlant One in Moses Lake, Washington, opened on June 10, 2026 with approximately 50,000 gallons per year of E-Jet SAF capacity and co-produces E-Naphtha.

The company's product portfolio is organized into two umbrella lines: eFuels (E-Jet SAF certified under ASTM D7566 Annex A1 for up to 50% blending with Jet A-1, E-Marine shipping fuel conforming to ISO 8217 DMA, and Electrol eDiesel for data-center backup power) and eChemicals (E-Naphtha and downstream consumer goods showcased via the eMade/CO2Made brand platform with partners including Mercedes-Benz, Procter & Gamble, and Pangaia). Distribution is enabled through a logistics collaboration with World Fuel Services and engineering partnerships with IHI Power Services and Vista Projects, allowing Twelve to scale without owning downstream infrastructure.

Twelve generates revenue via long-term offtake agreements (10-15 year contracts such as the 14-year, 785,000-tonne / 260-million-gallon IAG deal), physical product sales as AirPlant capacity ramps, brand and corporate prepayments, SAF book-and-claim credit sales to Scope 3 buyers, and U.S. federal incentives including 45Q, 45V, and 48C tax credits. The company is private, has raised over $900 million cumulatively (including a $645M round led by TPG Rise Climate in November 2024 that took valuation to $1B / unicorn status), and serves enterprise customers concentrated in commercial aviation (Alaska Airlines, IAG, United Airlines), technology (Microsoft, Amazon, Shopify, Autodesk), and consumer goods.

Name

Twelve

Legal name

Twelve Benefit Corporation

Website

https://twelve.co

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

251–500 employees

Short description

Twelve is a Berkeley-based climate technology company that uses proprietary Opus CO2 electrolyzers and Leaf membrane electrode assemblies to convert captured CO2, water, and renewable electricity into drop-in sustainable aviation fuel, marine fuel, diesel, and chemical feedstocks for enterprise customers in aviation and chemicals.

Ownership category

akta.pro rank

Product category

Carbon Transformation & Synthetic Fuel Manufacturing

NAICS

Industrial Gas Manufacturing (32512), All Other Electrical Equipment and Component Manufacturing (33599)

SIC

Electrical Industrial Apparatus (3620), Motors & Generators (3621)

akta.pro primary industry

Electrochemical CO₂ Conversion Systems (electrolyzers, catalysts, reactors, balance‑of‑plant) (EUABAIAK)

akta.pro secondary industry

Industrial Decarbonization EPC, Integration & O&M Services (Design/Build/Operate) (EUABAJAM)

Keywords

• Carbon transformation technology
• Sustainable aviation fuel
• Power-to-liquid eFuels
• CO2 electrolyzer systems
• Synthetic eChemicals production

Headquarters

HQ city

Berkeley

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Infrastructure, Personnel, Supply Chain, Operations, Others

Revenue model

1. Long-term offtake agreements for E-Jet SAF: Multi-year volume commitments (e.g., 785,000 tonnes / 260M gallons of e-SAF with IAG over 14 years). Recurring, contractually committed revenue once AirPlants ramp.
2. Physical product sales of eFuels, eChemicals, and eMade products: Direct sales of E-Jet SAF, E-Marine, E-Naphtha, and eChemicals (e.g., CO2Made) to enterprise buyers. Volumes are production-bound and grow as AirPlant capacity scales.
3. Strategic partnership / offtake prepayments and project equity: Brand and corporate partners (Microsoft, Alaska Airlines, Mercedes-Benz, Pangaia, P&G, Shopify, Autodesk, Novo Nordisk) provide pre-purchase commitments, prepayments, and project-level capital to underwrite AirPlant construction.
4. SAF book-and-claim credit sales: Twelve sells SAF environmental attributes (book-and-claim) to corporations such as Alaska Airlines and Microsoft to satisfy Scope 3 and sustainable aviation commitments even when physical delivery is not yet possible.
5. Government grants and incentive monetization: Twelve has received 78 grants totaling ~$59M, alongside U.S. federal 45Q and 45V tax credits applicable to carbon transformation. This subsidizes R&D and capex.

Pricing tiers

Go-to-market motion3 records

Core offering

Twelve is a carbon transformation company that uses proprietary electrochemical hardware (Opus™ CO2 electrolyzers built around the Leaf™ membrane electrode assembly) to convert captured CO2, water, and renewable electricity into drop-in fossil-free fuels and chemicals. Its commercial output includes E-Jet® sustainable aviation fuel, E-Naphtha™ chemical feedstock, E-Marine™ shipping fuel, and Electrol™ eDiesel, produced at its modular AirPlant™ facilities beginning with AirPlant One in Moses Lake, Washington.

Product overview

Twelve is a single industrial technology company — not a modular SaaS platform — whose offering is a vertically integrated stack: a proprietary electrochemical hardware platform (Opus™ CO2 electrolyzers built around the Leaf™ membrane electrode assembly) that is deployed in commercial production facilities (starting with AirPlant™ One in Moses Lake, WA) to manufacture a portfolio of drop-in CO2-derived products. The output portfolio is organized into two umbrella lines: eFuels (E-Jet® SAF for aviation, E-Marine™ for shipping, and Electrol™ eDiesel for data-center/diesel use) and eChemicals (anchored by E-Naphtha™ as a petrochemical-replacement feedstock, with downstream consumer goods showcased via the eMade™/CO2Made® platform). AirPlant™ One is the first commercial plant producing E-Jet® SAF, and distribution to airports is enabled through a logistics collaboration with World Fuel Services.

Differentiator

Problem solved

Functional benefit

Brands

• E-Jet®: Power-to-Liquid synthetic sustainable aviation fuel (eSAF / SAF) made from CO2, water, and renewable electricity; meets ASTM D7566 Annex A1 specification; cuts lifecycle emissions by up to 90% versus conventional jet fuel.
• E-Naphtha™
• AirPlant™
• Opus™
• Leaf™
• Electrol™ eDiesel
• E-Marine™
• CO2Made®
• eMade™

Products and services

• E-Jet® SAF (Sustainable Aviation Fuel) Power-to-Liquid e-jet fuel produced from captured CO2, water, and renewable electricity using Twelve's Opus™ CO2 electrolyzers. Certified for blending up to 50% with conventional Jet A/A-1 under ASTM D7566 Annex A1 and supplied to commercial aviation customers to decarbonize flight.
• E-Naphtha™ A drop-in replacement for petroleum-derived naphtha produced from CO2 and renewable electricity. Used as a chemical building block for plastics, packaging, surfactants, fragrances, and other consumer-goods applications that conventionally rely on fossil naphtha.
• E-Marine™ Shipping Fuel A drop-in marine shipping fuel that conforms to the ISO 8217 DMA specification, produced from CO2 and renewable electricity. Intended to decarbonize the maritime shipping sector without requiring engine or infrastructure modifications.
• Electrol™ eDiesel A renewable, drop-in eDiesel produced from CO2 and renewable electricity, targeted primarily at backup generators for data centers and other diesel-engine applications where reliable, low-carbon power is required.
• Opus™ CO2 Electrolyzer Twelve's proprietary CO2 electrolyzer stack and platform. Opus uses the Leaf™ membrane electrode assembly to convert captured CO2 and water into synthesis-gas and other intermediates that are upgraded into the company's eFuels and eChemicals. It is the central hardware asset deployed at AirPlant™ One.
• AirPlant™ One (Moses Lake, WA) Twelve's first commercial-scale CO2 electrolyzer plant, located in Moses Lake, Washington. Opened on June 10, 2026, it is America's first commercial e-Jet fuel plant, producing E-Jet® SAF and E-Naphtha from CO2, water, and renewable electricity (100% hydropower from the Columbia River) at an initial capacity of approximately 50,000 gallons of SAF annually, serving as a template for future AirPlant™ facilities.
• eMade™ / CO2Made® Consumer Products Platform A brand and consumer-product showcase platform that demonstrates real-world products (e.g., sunglasses, fragrances, surf wax, ski wax) made using Twelve's CO2-derived eChemicals via partnerships with consumer brands such as Mercedes-Benz, Procter & Gamble, and Pangaia, highlighting that CO2 can displace petroleum as a feedstock in finished goods.

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Recent moves8 records

Expansion highlights6 records

Others

• Climeworks: Climeworks is the leading direct air capture provider and a potential upstream CO2 supplier to Twelve's AirPlants. It is an ecosystem partner (and to some extent a competitor for IRA 45Q dollars) rather than a direct e-fuel competitor.

Direct peers

• LanzaJet: LanzaJet is LanzaTech's alcohol-to-jet subsidiary producing sustainable aviation fuel from ethanol. It is a direct competitor in the e-SAF market, similarly dependent on aviation offtake contracts and federal SAF incentives (IRA 40B/45Z).
• Prometheus Fuels: Prometheus is developing CO2-to-liquid hydrocarbon fuels using direct air capture and electrochemistry — closely aligned with Twelve's air-to-fuels thesis. It is a direct competitor in e-SAF and e-gasoline.
• Sunfire: Sunfire (Germany) builds solid-oxide electrolyzer cells and produces e-fuels (e-kerosene, e-diesel, e-naphtha) from CO2 and renewable electricity. It is one of the most technologically advanced European competitors to Twelve's eSAF and eChemicals platform.
• LanzaTech: LanzaTech uses gas fermentation (rather than PEM electrolysis) to convert captured CO2/CO into ethanol and other chemical intermediates, which are upgraded into sustainable aviation fuel via its LanzaJet spinoff. It is the closest direct competitor to Twelve in commercial-scale CO2-to-fuels and has overlapping aviation offtake customers (IAG, Suncor).
• Infinium: Infinium produces e-fuels (e-SAF, e-diesel, e-naphtha) from green hydrogen and captured CO2 via reverse-water-gas-shift and Fischer–Tropsch synthesis. It directly competes with Twelve's eFuel and eChemicals portfolio for the same offtake customers.

Broad incumbents

• Neste: Neste is the world's largest SAF producer today via its HEFA (hydroprocessed esters and fatty acids) pathway from waste oils. It is a broad incumbent whose scale and incumbency with airlines could squeeze out power-to-liquid newcomers like Twelve.
• Gevo: Gevo produces SAF and renewable hydrocarbons via a fermentation/isobutanol pathway from corn and cellulosic feedstocks rather than direct CO2 electrolysis. It is a broader SAF incumbent pursuing the same aviation customer base as Twelve.
• Aemetis: Aemetis is developing cellulosic and renewable SAF capacity in California and is positioning as a US-based SAF supplier — competing with Twelve for the same California policy environment and aviation customer wallet.

Emerging players

• Dioxide Materials: Dioxide Materials is an emerging CO2 electrolysis technology company selling membrane electrode assemblies and electrolyzers — overlapping with Twelve's Leaf MEA / Opus stack at the component and hardware level.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@Twelve.CO2
• LinkedInlinkedin.com/company/twelveco2
• Instagraminstagram.com/made_from_air/?hl=en
• Xx.com/twelve_co2
• Facebookfacebook.com/twelve.co2

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries2 records

Funding overview

Funding rounds16 records

Investors55 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Twelve