Climate and Clean Tech | June 7, 2023

UK-based OXCCU secures $22.7 million to commercialize sustainable aviation fuel

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, June 7 — Climate-friendly policy, advance purchase agreements and capital for climate technologies are accelerating demand for sustainable aviation fuel. Many of the alternatives are expensive and airlines “continue to face a significant supply shortage,” said United Airlines’ Michael Leskinen.

London-based OXCCU, which reduces costs by combining captured carbon dioxide with renewable-sourced green hydrogen, has raised $22.7 million in a new investment round. OXCCU’s fuel “has the potential to resolve our problem by using CO2 as a feedstock to produce fuel,” said Leskinen.

Corporate VC

Clean Energy Ventures led the round, with participation from the University of Oxford, Aramco Ventures, Braavos Capital, Doral Energy-Tech Ventures and others. United Airlines invested through its sustainable flight fund, a $100 million venture fund for scaling the supply of sustainable aviation fuel.

Boeing inked a deal with Los Angeles-based Equatic last week for its green hydrogen fuel, which is produced from seawater via renewable-powered electrolysis.