Air Company, the New York startup founded by Gregory Constantine and Stafford Sheehan in 2017, set out to demonstrate how carbon dioxide could be converted into useful products. Its early focus included vodka made using alcohol produced from carbon dioxide and hydrogen. The company later expanded its work towards industrial applications, including synthetic aviation fuel. In February 2023, the US Department of Defense’s Defense Innovation Unit announced a contract with a ceiling of $65 million to develop synthetic-fuel production technology for use in contested environments. AIRCO, as the company is now known, cited a $67 million contract for the same project in a March 2026 announcement. The public announcements do not explain the difference between the two figures, and neither should be mistaken for confirmation that the full amount has been paid.
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