• UK’s OXCCU raised USD 28M Series B, with Aramco Ventures joining investors to scale sustainable aviation fuel from waste carbon.
• Founded in 2021, OXCCU develops catalysts and reactors to convert waste carbon into jet fuel, aiming for cheaper decarbonization at scale.
• The funding supports commercialization, operational expansion, and technology scale-up, including OX1 and upcoming OX2 demonstration plants in the UK.
  

Aramco Ventures

UK-based OXCCU raised USD 28 million (GBP 20.75M)) in a Series B funding round. The round includes backing from Orlen VC, Safran Corporate Ventures, International Airlines Group (IAG), Hostplus, and TCVC. 

It also saw participation from Clean Energy Ventures, IP Group/Kiko Ventures, Eni Next, Braavos Capital, and the University of Oxford. Most significantly from MENA, the corporate venture arm of Aramco, Aramco Ventures also joined the round. 

Founded in 2021 by Andrew Symes, Dr Tiancun Xiao, Dr Jane Jin and Dr Benzhen Yao, OXCCU is a Oxford University spin-out developing a one-step process to convert waste carbon into SAF. It is developing  novel catalysts and reactor designs to convert waste carbon into liquid hydrocarbons. Furthermore, it develops it with  high conversion and selectivity for use as fuels and chemicals. 

Sustainable Jet Fuel

Up next, with the new capital it aims to accelerate its commercialisation efforts, and expand its operations. It also aims to advance its next phase of technology scale-up. 

This comes after the launch of the company’s OX1 demonstration plant at London Oxford Airport in 2024.  Up next, its second demonstration plant, OX2, is underway and is expected to be fully operational in 2026.

The funding highlights the growing importance of making sustainable aviation fuel (SAF) cheaper to help decarbonize aviation at scale. OXCCU’s technology makes SAF production simpler by eliminating the need for reverse water gas shift or e-methanol steps. Its patented iron-based catalyst turns waste gases directly into jet fuel in a single reaction, cutting both costs and the fuel’s carbon footprint.