OXCCU, an Oxford University spin-out developing a one-step process to convert waste carbon into sustainable aviation fuel (SAF), has raised £20.75 million ($28 million) in an oversubscribed Series B funding round, reports AZO Cleantech.
The round saw participation from new investors including Orlen VC, Safran Corporate Ventures, International Airlines Group (IAG), and Hostplus, alongside continued support from Clean Energy Ventures, IP Group/Kiko Ventures, Aramco Ventures, Eni Next, Braavos Capital, and the University of Oxford.
The funds will support OXCCU’s commercialization efforts, expand operations, and advance the next phase of its technology scale-up. This follows the 2024 launch of its OX1 demonstration plant at London Oxford Airport, with the second demonstration plant, OX2, expected to be fully operational in 2026.
“The successful funding shows that investors are backing technologies with real potential to make a difference,” said Andrew Symes, CEO of OXCCU. “Our goal is to make SAF more affordable and accessible, helping the aviation sector decarbonize at scale.”
OXCCU’s patented iron-based catalyst simplifies SAF production by converting gaseous waste carbon directly into jet-fuel-range hydrocarbons in a single reaction, eliminating costly intermediate steps. The technology works with a range of input gases, including reformed biogas, gasified wood waste, and carbon dioxide with hydrogen, lowering both operating costs and carbon intensity.
Jonathon Counsell, Group Sustainability Director at IAG, highlighted the strategic importance of the investment: “Achieving net zero emissions by 2050 requires new fuels. This investment in OXCCU supports our commitment to meeting 10% of our fuel needs with SAF by 2030 and helps develop next-generation fuels.”
Ireneusz Fafara, President of ORLEN, added: “Supporting OXCCU aligns with our goal of becoming a leading SAF producer in Europe by 2035. Their technology helps us produce renewable fuels and move toward carbon neutrality.”
Nathalie Stubler, Chief Sustainability Officer at Safran, said: “We support scaling promising SAF technologies alongside our own decarbonization efforts in engines and aircraft systems.”
Daniel Goldman of Clean Energy Ventures noted OXCCU’s rapid progress: “In just a few years, OXCCU has gone from lab to commercial demonstration, proving that waste carbon and hydrogen can be converted directly into jet fuel at low cost.”
Dr. Robert Trezona from IP Group added: “This funding is a milestone for the SAF sector and demonstrates the UK’s ability to turn world-class science into solutions that decarbonize aviation while creating jobs.”
OXCCU’s technology also has potential applications beyond aviation, including the production of chemicals and plastics. Symes emphasized the urgency: “The climate challenge is increasing. Aviation needs affordable SAF, and that is exactly what we are delivering.”
