• $28 million Series B funding strengthens OXCCU’s position in scaling cost-competitive sustainable aviation fuel (SAF).
• Strategic backing from IAG, Safran, Orlen VC, and leading climate investors highlights industry alignment on aviation decarbonisation.
• OXCCU’s single-step catalytic process aims to cut production costs, addressing the main barrier to SAF adoption.

Oxford spin-out attracts global capital

OXCCU, a University of Oxford spin-out developing sustainable aviation fuel from waste carbon, has raised $28 million in an oversubscribed Series B round. The financing brings together a mix of airline, aerospace, and energy-sector investors, signalling confidence in the company’s ability to industrialise a cost-effective pathway for low-carbon jet fuel.

Participants include new investors International Airlines Group’s IAGi Ventures, Safran Corporate Ventures, Orlen VC, Hostplus, and TCVC. Existing backers such as Clean Energy Ventures, IP Group’s Kiko Ventures, Aramco Ventures, Eni Next, Braavos Capital, and the University of Oxford also reinvested.

The funding will accelerate OXCCU’s technology scale-up and commercialisation, expanding on its OX1 demonstration plant at London Oxford Airport, launched in 2024. A second, larger facility—OX2—is expected to be operational in 2026.

Technology aimed at cost barrier

Aviation accounts for roughly 2–3% of global greenhouse gas emissions, and regulators in both the EU and UK are tightening mandates to increase SAF usage. Yet high production costs have prevented wide-scale adoption, with SAF still representing less than 0.2% of global jet fuel supply.

OXCCU’s patented iron-based catalyst bypasses traditional multi-step pathways by directly converting waste carbon gases and hydrogen into jet-range hydrocarbons in a single exothermic reaction. The simplified chemistry reduces both capital and operating costs while maintaining fuel quality standards.

Flexibility in feedstocks—including reformed biogas, gasified wood waste, and pure CO₂ combined with hydrogen—could make the technology deployable across diverse geographies.

“Capital is scarce, but investors recognise the urgency of SAF cost reduction,” said Andrew Symes, CEO of OXCCU. “We’re proving that distinctive science, delivered at scale, can move aviation towards net zero.”

Investors link climate goals to fuel supply

For IAG, one of Europe’s largest airline groups, the investment supports its target to meet 10% of its fuel needs with SAF by 2030. “Developing next-generation fuels is essential for our net-zero strategy,” said Jonathon Counsell, Group Sustainability Director at IAG.

Orlen VC described the move as part of its drive to become one of Europe’s leading SAF producers by 2035. “Investing in OXCCU will strengthen our competitiveness as we transform our business toward carbon neutrality,” said Ireneusz Fąfara, President of the Management Board of Orlen.

Safran, the French aerospace manufacturer, tied its investment to risk reduction across the SAF supply chain. “Scaling promising technologies complements our own efforts in engines and equipment,” said Chief Sustainability Officer Nathalie Stubler.

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Speed of development draws attention

Venture capital investors point to OXCCU’s rapid trajectory from lab research to pilot and now commercial demonstration. “This company has gone from science to scale in just a few years,” said Daniel Goldman, Co-founder of Clean Energy Ventures. “The potential to produce low-cost jet fuel directly from waste carbon and hydrogen is reshaping the SAF market.”

IP Group’s Cleantech Partner Robert Trezona called the deal a sign of industry credibility. “Significant capital from established actors is now backing a viable route to fully decarbonise aviation,” he said, highlighting the UK’s role in commercialising climate technology.

Beyond aviation

While aviation is the immediate focus, OXCCU notes its platform could extend into chemicals and plastics, diversifying revenue streams and broadening climate impact. Still, executives stress that aviation’s urgent decarbonisation needs remain the priority.

“This is a critical moment for climate technology,” said Symes. “Aviation needs a scalable solution, and SAF is the lever. The challenge is cost—and that is exactly what we are solving.”

Global context

The funding round comes as Europe prepares to implement ReFuelEU requirements mandating airlines to increase SAF blending starting in 2025, and the UK’s SAF mandate is moving toward final legislation. For investors, airlines, and policymakers, technologies that can cut production costs are essential if these targets are to be met.

By securing industrial partners across the aviation value chain, OXCCU positions itself as a potential bridge between regulatory ambition and market reality. Its progress will be closely watched by global investors seeking credible pathways to aviation’s decarbonisation.

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