OXCCU, a University of Oxford spin-out, has closed a $28 million Series B round to accelerate commercialization of its one-step process that converts waste carbon into sustainable aviation fuel (SAF).
Backed by major investors in aviation, energy, and climate investing, the company is positioning itself as a critical force in decarbonizing air travel.
A New Chapter in Aviation Decarbonization
The oversubscribed funding round brought in new investors including Orlen VC, Safran Corporate Ventures, and International Airlines Group (IAG), alongside continued support from Clean Energy Ventures, Aramco Ventures, IP Group/Kiko Ventures, and the University of Oxford.
This fresh capital will allow OXCCU to expand its operations, scale its technology, and advance the next phase of commercialization.
The company recently launched its OX1 demonstration plant at London Oxford Airport in 2024, with a second facility, OX2, already in development and expected to be operational by 2026.
Tackling the Cost Barrier for SAF
Despite rising regulatory mandates such as the UK SAF mandate and ReFuelEU, widespread adoption of sustainable aviation fuel has been slowed by high production costs.
OXCCU is tackling this barrier head-on with a patented iron-based catalyst that enables direct synthesis of jet-fuel-range hydrocarbons from waste carbon in a single step.
This breakthrough simplifies the production process by eliminating the need for intermediate stages such as reverse water gas shift or e-methanol. The result is:
- Lower capital and operating costs
- Reduced carbon intensity of fuel
- Greater flexibility in feedstocks, including biogas, gasified wood waste, and pure CO₂ with hydrogen
Industry Support and Strategic Partnerships
Global leaders are lining up behind OXCCU’s approach:
- International Airlines Group (IAG): Committed to 10% SAF use by 2030 and net-zero emissions by 2050, IAG views OXCCU’s technology as key to achieving those targets.
- Orlen VC: Supporting commercialization as part of its strategy to become one of Europe’s top SAF producers by 2035.
- Safran: Investing in OXCCU as part of its broader commitment to advancing decarbonization technologies across aviation.
- Clean Energy Ventures and IP Group: Long-time backers who see OXCCU’s progress as proof that UK climate innovation can scale into global solutions.
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Why This Matters for the World
Aviation accounts for around 2.5% of global CO₂ emissions, and demand for air travel continues to rise. Scaling affordable SAF is one of the most effective levers available to reduce the sector’s climate impact.
By dramatically lowering production costs, OXCCU is helping unlock the path toward widespread adoption of low-carbon fuels.
Beyond aviation, the company’s technology also holds promise for chemicals and plastics, opening new avenues for reducing fossil fuel dependence across industries.
Looking Ahead
CEO Andrew Symes summed up the milestone: “In a market where capital is tight and investors are rightly selective, this raise is a testament to the strength of our science, the clarity of our mission, and the urgency of the problem we’re solving.”
With the backing of strategic investors and rapid progress from lab to demonstration plants, OXCCU is emerging as one of the most promising climate tech companies in the UK.
Its mission to transform waste carbon into fuel is not just an engineering achievement but a vision for a future where aviation and industry can thrive without sacrificing the planet.
