Saudi Arabia’s Aramco Ventures has reaffirmed its commitment to pioneering climate technology by participating in a $28 million (£20.75 million) Series B funding round for OXCCU, a UK-based company developing a breakthrough process for creating Sustainable Aviation Fuel (SAF). As an existing backer from the company’s Series A, Aramco Ventures’ follow-on investment signals strong confidence in OXCCU’s potential to decarbonise the aviation industry. The oversubscribed round also saw participation from global leaders in aviation and energy, including IAG and Safran Corporate Ventures.
A Strategic Bet on Sustainable Aviation
Aramco Ventures’ continued investment in OXCCU aligns with a broader strategic push by major energy players into next-generation fuel technologies. The move highlights a focus on addressing emissions in hard-to-abate sectors like aviation, which is facing increasing regulatory pressure and market demand for sustainable alternatives. By backing a company that directly tackles the high production costs of SAF, Aramco Ventures is positioning itself at the forefront of a critical energy transition market. The capital will be used by OXCCU to accelerate commercialisation and scale its technology.
Breakthrough One-Step Fuel Production
OXCCU, a spin-out from the University of Oxford, has developed a novel process that simplifies the production of SAF. Its patented iron-based catalyst enables the direct conversion of waste carbon (such as carbon dioxide) and hydrogen into jet-fuel-range hydrocarbons in a single step. This innovative method eliminates intermediate stages common in other SAF pathways, significantly reducing both capital and operating costs—the primary obstacles to widespread SAF adoption. The technology’s flexibility allows it to use various feedstocks, including reformed biogas and gasified wood waste.
Global Syndicate Joins The Round
The strength of OXCCU’s technology is underscored by the high-caliber syndicate of investors that joined Aramco Ventures in the funding round. New investors include International Airlines Group (IAG), Safran Corporate Ventures, and Orlen VC, while existing investors like Clean Energy Ventures and Eni Next also reinvested. This consortium of strategic partners from across the aviation and energy value chains provides OXCCU with robust support as it moves towards full-scale commercial operations.
About OXCCU
OXCCU is a climate-tech company spun out from the University of Oxford. It is developing novel catalysts and reactor designs to convert waste carbon into valuable liquid hydrocarbons for use as sustainable fuels and chemicals. The company’s mission is to address the high costs of SAF production to accelerate the decarbonisation of the aviation industry.
Source: OXCCU
