19 June 2023

OXCCU Raises $22 Million to Transform Carbon Dioxide into Sustainable Aviation Fuel

Leading carbon-to-value company converting carbon dioxide and hydrogen into industrial and consumer products, has completed a Series A financing to commercialize sustainable aviation fuel (SAF)

  • Developed by Oxford University scientists, OXCCU converts captured carbon dioxide into sustainable aviation fuel to cost-effectively decarbonize air transport
  • Led by Clean Energy Ventures, the Series A round is composed of new investors including United Airlines and two global energy companies.
© OXCCU

“Sustainable aviation fuel is the best tool we have to decarbonize air travel, but we continue to face a significant supply shortage,” said United Airlines Ventures President Michael Leskinen. “The technology developed by OXCCU has the potential to resolve our supply problem by using CO2 as a feedstock to produce fuel. This cutting-edge solution could be a cost-effective pathway for United to reach our commitment of net-zero carbon emissions by 2050, without relying on traditional carbon offsets.”

“At OXCCU, we’re inspired by the prospect of crossing the Atlantic using sustainable aviation fuel,” said CEO Andrew Symes. “We’ve built an extraordinary team of senior scientists, engineers and operators, and now backed by this experienced group of investors, we are confident we can scale this technology into a cost-competitive and globally deployable solution to create a sustainable drop-in product for the global aviation market.”

OXCCU was spun-out by expert scientists and technologists at the University of Oxford. Its mission is to address the rapidly growing market demand for fuels to meet SAF regulations as well as for the petrochemicals, surfactants, synthetic lubricants and plastics markets. Leveraging
this funding round, OXCCU expects to scale-up the technology, expand its facilities, and double its team in the UK.

About OXCCU

OXCCU TECH LTD, a climate tech spin-out company from the University of Oxford, is developing novel catalysts and reactor designs to convert carbon dioxide and hydrogen into hydrocarbons with high conversion and selectivity for use as fuels, chemicals and plastics. The company is headquartered in the UK, with operations at Begbroke Science Park, Oxford, and London Oxford Airport.

Source:

OXCCU, press release, 2023-06-07.