Twelve secures $45 million financing for AirPlant One expansion

Type: Financing · Technology: Hydrogen · Country: United States · Value: $45M · Announced: 2026-09-10

Twelve obtained a credit facility of up to $45 million from Endurance Capital and Nomura to refinance its construction loan and fund expansion at its AirPlant One site in Moses Lake, Washington. The financing will support increased hydrogen production capacity at the plant, which already generates sustainable aviation fuel and synthetic naphtha using renewable electricity and captured CO₂. AirPlant One is the first commercial‑scale power‑to‑liquid facility in the United States, powered entirely by hydropower and positioned to deliver low‑carbon jet fuel. The deal underscores Twelve’s shift from construction to operating asset and provides the capital needed for its next growth phase. Nomura acted as joint bookrunner and administrative agent, while Endurance Capital led the lending syndicate.

Analysis

Twelve secured a credit facility of up to $45 million from Endurance Capital and Nomura on 10 Sep 2026 to refinance its construction loan and fund expansion at the AirPlant One site in Moses Lake, Washington. Nomura acted as joint bookrunner and administrative agent for the loan. Endurance Capital led the lending syndicate for the facility. The financing is structured as a credit facility intended to support increased hydrogen production capacity at the power‑to‑liquid plant.

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