OXCCU, a company spun-out from the University of Oxford in 2021 that is focused on converting carbon dioxide and hydrogen into industrial and consumer products (earlier post), completed an £18-million (US$22.8 million) Series A financing round.
The round was led by Clean Energy Ventures with participation from investors Aramco Ventures; Eni Next, the corporate venture arm of Italian energy company Eni; United Airlines Ventures Sustainable Flight Fund; and Braavos Capital alongside existing investor Kiko Ventures (IP Group’s cleantech investment platform), and University of Oxford.
Trafigura, TechEnergy Ventures and Doral Energy-Tech Ventures also participated in the financing. Leveraging the funding, OXCCU plans to accelerate its path to market by scaling its catalytic approach to convert hydrogen and carbon dioxide into SAF and other sustainable fuels.
Available to customers as OXEFUEL, OXCCU’s sustainable aviation fuel is created by combining captured carbon dioxide and renewably-sourced green hydrogen through a novel iron-based catalyst, resulting in a more cost-effective and decarbonized alternative to fossil-based jet fuel for commercial airlines.
