Former co-founder of AirCo, Dr. Stafford Sheehan, has filed a whistleblower lawsuit against the company and its board, alleging serious ethical, financial, and national security violations.
AirCo, known for pioneering technology that converts atmospheric CO2 into valuable products including sustainable aviation fuel (SAF), has received federal backing in its mission to decarbonize critical industries. But the lawsuit alleges that this success has come at a cost.
Central to Dr. Sheehan’s complaint, which has been shared with the Carbon Herald, is the charge that AirCo’s holding company, ACH, improperly billed unallowable marketing expenses to federal contracts — which the lawsuit says is a direct violation of those funding agreements.
Dr. Sheehan claims he internally reported these discrepancies to Board Chairman Steven Jbara and other executives on April 30 and May 1, 2024, but says it was met with inaction.
The lawsuit also includes an alleged breach of federal security protocols. In September 2024, a delegation affiliated with the World Economic Forum (WEF) — including foreign nationals — was reportedly given access to AirCo’s 94 Scott laboratory in Brooklyn.
The lab housed Controlled Unclassified Information (CUI) and Export Controlled Information (ECI) tied to contracts with the Department of Defense (DoD) and NASA.
The visitors were allowed to take photos and video during the tour, allegedly approved by CEO Gregory...
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