Oxford spin-out OXCCU lands €24m to turn waste into jet fuel

OXCCU has raised €24m in Series B funding to further develop its technology for converting waste carbon into sustainable aviation fuel (SAF).

The round included new investors Orlen VC, Safran Corporate Ventures, and International Airlines Group (IAG), alongside existing backers like Clean Energy Ventures and IP Group.

OXCCU, founded in 2021, aims to simplify SAF production with a patented iron-based catalyst that converts carbon dioxide, carbon monoxide, and hydrogen directly into jet-fuel-range hydrocarbons.

If the technology scales as planned, it could reduce both costs and carbon intensity compared with traditional multi-step processes. A second demonstration plant, OX2, is expected to be fully operational in 2026.

“In a market where capital is tight and investors are rightly selective, this raise is a testament to the strength of our science and the urgency of the problem we’re solving,” says CEO Andrew Symes.

SAF is gaining traction as regulators push for cleaner aviation fuels, but high production costs and limited feedstocks continue to pose challenges. OXCCU’s approach, which can work with biogas, wood waste, and other carbon streams, is among several experimental methods seeking to make SAF commercially viable.