OXCCU Secures $28M to Scale Sustainable Aviation Fuel Production

OXCCU, an Oxford University spin-out, has raised £20.75 million ($28 million) in an oversubscribed Series B funding round, announced in a press release. The funding round saw participation from new investors such as Orlen VC, Safran Corporate Ventures, and International Airlines Group (IAG), alongside existing backers including Clean Energy Ventures and Aramco Ventures.

The newly acquired capital will enable OXCCU to accelerate the commercialization of its technology, expand operations, and advance the next phase of its technology scale-up. This includes the launch of the OX1 demonstration plant at London Oxford Airport in 2024 and the development of a second plant, OX2, expected to be operational by 2026.

OXCCU's innovative process simplifies the production of sustainable aviation fuel (SAF) by converting waste carbon directly into jet-fuel-range hydrocarbons using a patented iron-based catalyst. This method eliminates the need for intermediate steps like reverse water gas shift or e-methanol production, thereby reducing both capital and operating costs while lowering the carbon intensity of the fuel. The company's technology not only addresses environmental concerns but also meets commercial demands, with potential applications extending into the chemicals and plastics industries.