OXCCU raises $28 million to scale single-step waste carbon-to-SAF technology, advancing sustainable aviation and decarbonization globally.
OXCCU, a spin-out from the University of Oxford focused on developing a single-step process to transform waste carbon into sustainable aviation fuel (SAF), has successfully raised £20.75 million ($28 million) in an oversubscribed Series B funding round. The investment attracted new strategic backers including Orlen VC, Safran Corporate Ventures, International Airlines Group (IAG), Hostplus, and TCVC, while existing investors such as Clean Energy Ventures, IP Group/Kiko Ventures, Aramco Ventures, Eni Next, Braavos Capital, and the University of Oxford continued their support.
This capital injection will accelerate OXCCU’s commercialization strategy, support operational expansion, and facilitate the next stage of its technology scale-up. The funding builds on the launch of OXCCU’s first demonstration facility, OX1, at London Oxford Airport in 2024. The company is also constructing its second demonstration plant, OX2, which is scheduled to become fully operational in 2026.
The announcement arrives amid growing regulatory momentum and market demand for sustainable fuels. Policies such as the UK SAF mandate and ReFuelEU are driving the push for SAF adoption, but high production costs remain a significant obstacle.
“In a market where investors are cautious and selective, this funding round validates the strength of our science, the clarity of our mission, and the urgency of the challenge we are tackling,” said Andrew Symes, CEO of OXCCU. “It demonstrates that investors recognize the potential of genuinely innovative technologies.”
OXCCU’s approach addresses cost barriers by streamlining SAF production. Unlike conventional methods requiring reverse water gas shift or e-methanol steps, OXCCU’s patented iron-based catalyst enables the direct conversion of gaseous waste carbon into jet-fuel-range hydrocarbons through a single exothermic reaction. This not only reduces capital and operating expenses but also lowers the carbon intensity of the produced fuel.
The catalyst is highly versatile, processing a wide range of input gases including carbon dioxide, carbon monoxide, and hydrogen. It can convert various feedstocks such as reformed biogas, gasified wood waste, or pure carbon dioxide combined with hydrogen, providing flexibility for different production environments.
Jonathon Counsell, Group Sustainability Director at IAG, emphasized the strategic importance of the investment: “Achieving net zero emissions by 2050 requires sustainable aviation fuel. Our partnership with OXCCU supports our goal of sourcing 10% of our fuel from SAF by 2030 and developing next-generation fuels.”
Ireneusz Fafara, President of ORLEN, added: “Investing in technologies like OXCCU allows us to scale SAF production and strengthen our market position while progressing toward carbon neutrality.”
Nathalie Stubler, Safran Chief Sustainability Officer, highlighted the importance of supporting industrial scale-up for promising SAF technologies, while Daniel Goldman, Managing Partner at Clean Energy Ventures, praised OXCCU’s rapid transition from lab to commercial demonstration, enabling affordable SAF production.
Dr. Robert Trezona, Partner at IP Group, remarked that the round represents a major milestone for climate innovation in the UK, turning high-quality science into impactful global solutions.
OXCCU’s technology not only addresses aviation decarbonization but also has broader applications in chemicals and plastics. “The urgent need for climate solutions makes SAF crucial,” concluded Symes. “We are tackling the cost challenge head-on with our technology.”
