
Alder Fuels
On a mission to replace fossil-based products and rebalance relationship with the natural world.
Date | Investors | Amount | Round |
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investor investor | €0.0 | round | |
N/A | €0.0 | round | |
* | $2.0m | Grant | |
Total Funding | 000k |
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Alder Fuels, now operating as Alder Renewables, is a process technology and project development company established in 2021 to address the decarbonization of the aviation industry. The company was founded by Bryan Sherbacow, an entrepreneur with extensive experience in the biofuel sector, having previously co-founded AltAir Fuels, the world's first commercial sustainable aviation fuel (SAF) producer. Sherbacow's background includes negotiating the aviation industry's first commercial contracts for SAF with major airlines.
The company's core business revolves around its proprietary technology that converts abundant, non-food biomass—such as forest residues, crop waste, and regenerative grasses—into a carbon-negative "greencrude" oil. This Alder Greencrude (AGC) can then be processed in existing petroleum refineries to produce a "drop-in" sustainable aviation fuel. This model avoids the high costs associated with building new refining infrastructure and leverages the global logistics network already in place. The technology, developed in partnership with the National Renewable Energy Laboratory (NREL) and Honeywell, utilizes an advanced pyrolysis process. This process separates reactive components from fast pyrolysis oil, which can then be hydroprocessed using existing commercial catalysts to create the final fuel product.
Alder's business model is centered on developing and scaling this technology and securing long-term offtake agreements with major players in the aviation industry. The company has secured significant commitments, including a landmark agreement with United Airlines to purchase 1.5 billion gallons of SAF over 20 years and another with Avfuel for 1 billion gallons over the same period. These agreements highlight the substantial demand for scalable SAF solutions. Alder's client base consists of commercial airlines and fuel suppliers looking to meet emissions reduction targets. The company's work is supported by investments and partnerships with key industry names like Boeing, Honeywell, United Airlines Ventures, and Avfuel, as well as grants from the U.S. Department of Energy (DOE).
A significant event in the company's history occurred in late 2022 and early 2023. The board of directors terminated founder Bryan Sherbacow for cause after discovering unauthorized financial transactions for personal benefit. Sherbacow later pleaded guilty to wire fraud and was sentenced to prison in June 2024. Following this, the company reorganized, appointed Tim Obitts as acting CEO, and secured new multimillion-dollar investments to focus solely on the commercialization of its Alder Greencrude technology. Despite this management upheaval, Alder has continued to advance its technical milestones, including commissioning a pilot skid at NREL to scale up production and produce hundreds of gallons of its Alder Renewable Crude (ARC) for further testing and flight demonstrations.
Keywords: Alder Renewables, sustainable aviation fuel, SAF, greencrude, Alder Greencrude, biomass conversion, pyrolysis technology, drop-in fuel, aviation decarbonization, renewable energy, Bryan Sherbacow, Honeywell Ecofining, National Renewable Energy Laboratory, NREL, United Airlines, Boeing, Avfuel, forest residue, regenerative biomass, low-carbon fuel, carbon-negative, Tim Obitts