Oxford spin-out OXCCU raises £18 million to transform carbon dioxide into sustainable aviation fuel using hydrogen.
OXCCU, a company spun-out from the University of Oxford in 2021 that is focused on converting carbon dioxide and hydrogen into industrial and consumer products, has completed an £18 million Series A financing round. The funding will be used to commercialize cost-effective sustainable aviation fuel (SAF), scaling its catalytic approach to convert hydrogen and carbon dioxide into sustainable fuels.
Co-founded by Peter Edwards, Emeritus Professor of Inorganic Chemistry, alongside Drs Tiancun Xiao and Benzhen Yao, CEO Andrew Symes, and Jane Jin, OXCCU’s mission is to address the rapidly growing market demand for fuels that meet SAF regulations, as well as petrochemicals, surfactants, synthetic lubricants and plastics.
Andrew Symes, CEO said:
At OXCCU, we’re inspired by the prospect of crossing the Atlantic using sustainable aviation fuel.
“We’ve built an extraordinary team of senior scientists, engineers and operators, and now backed by this experienced group of investors, we are confident we can scale this technology into a cost-competitive and globally deployable solution to create a sustainable drop-in product for the global aviation market.”
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Oxford spin-out OXCCU raises £18 million to transform carbon dioxide into sustainable aviation fuel, June 7, 2023
