A UK start-up has raised $22.7m of Series A financing to commercialise its hydrogen and carbon dioxide (CO2) to sustainable aviation fuel (SAF) technology, seeing investments from Aramco, Eni, United Airlines and more.
OXCCU, developed by Oxford University scientists, converts hydrogen and captured CO2 into SAF which is hoped to decarbonise air transport in a cost-effective manner.
Led by Clean Energy Ventures, the funding round saw participation from Aramco Ventures, Eni Next, United Airlines Ventures Sustainable Flight Fund, and Braavos Capital, alongside existing investors Kiko Ventures, University of Oxford, Trafigura, TechEnergy Ventures and Doral Energy-Tech Ventures.
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