Aster has signed a Memorandum of Understanding (MOU) with Aether Fuels Pte. Ltd., a startup based in Singapore and the US, to develop cost-competitive sustainable liquid fuels. This partnership marks the inaugural investment of Aster Ventures, aimed at bolstering Aster’s energy, chemicals, and infrastructure business across Singapore and Southeast Asia.
Erwin Ciputra, Group CEO of Aster, expressed enthusiasm about the collaboration, stating, “We find Aether to be an exciting high velocity startup that has the potential capability of converting waste carbon feedstock into liquid fuels within our Bukom and Jurong asset ecosystem.” This initiative aligns with Aster’s commitment to reducing carbon intensity in its operations.
Phil Inagaki, Chief Investment Officer at Xora, highlighted the significance of the partnership, noting Aster’s role in advancing decarbonisation efforts in Singapore. He remarked, “We’re encouraged by Aster’s commitment to support breakthrough innovations like Aether’s Aurora™ technology.”
Conor Madigan, CEO of Aether Fuels, emphasised the strategic benefits of the partnership, saying, “This collaboration will accelerate our efforts to bring sustainable fuels to market globally and lay a solid foundation for future projects in the region.”
The MOU outlines plans to leverage Aster Group’s assets on Bukom Island to scale up Aether’s technology development. This collaboration is expected to pave the way for further joint ventures, reinforcing Singapore’s position as a hub for deep tech solutions with global impact.
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