The SAF Podcast: AIRCO - The art of revenue generation during development

This week on The SAF Podcast we are joined by Greg Constantine, Co-Founder & CEO, AIRCO (Formerly Air Company). 

Originally from Australia, Greg explains the strategy behind building out technology development from revenue generating consumer products like carbon negative Vodka, hand sanitizer and perfume building towards production of Sustainable Aviation Fuel. This allows for ongoing revenue generation and less reliance on raising outside investment. 

Constantine explains their technology-licensing business model, contrasting it with the capital-intensive mega-project approaches favored by many competitors in the power-to-liquid (PTL) space. This strategy allows them to avoid massive FID funding rounds while still scaling sustainable aviation fuel production globally.

Their strong partnerships with the US military have provided rigorous testing opportunities across air, land, and marine vehicles, validating their technology beyond what's possible in purely commercial settings. After closing a $70 million Series B funding round with strategic investors including JetBlue, Alaska Airlines, and Toyota Ventures, AIRCO is positioning itself as a technology provider rather than a large-scale fuel producer—focusing on licensing their technology to established operators who can scale production globally.

Constantine also discusses the challenges of balancing emissions reduction with cost competitiveness in the eSAF market, where fuels can cost seven times more than conventional jet fuel. The conversation then moves to feedstock flexibility, policy implications for e-fuels development and which policy structures he finds most practical. 

Check out the full conversation to find out more. 

Want to learn more about sustainable aviation fuel investment opportunities? Join us at the SAF Investor New York conference on September 23rd during New York Climate Week. Find out more information here: https://www.safinvestor.com/event/148108/saf-investor-new-york-2025-new/