ORLEN VC Invests in Synthetic Aviation Fuel Technology
- ORLEN VC invests in OXCCU's technology to produce e-SAF from hydrogen and CO₂.
- OXCCU secured $28 million in Series B funding to scale up the technology.
- EU mandates 6% SAF in aviation fuel by 2030, with 2% as e-SAF.
- SAF reduces greenhouse gas emissions by up to 94% compared to conventional jet fuel.
Investment in e-SAF Technology
ORLEN VC has invested in OXCCU's technology, which converts zero-emission hydrogen and captured CO₂ into synthetic sustainable aviation fuel (e-SAF). This aligns with ORLEN Group's strategy to decarbonize air transport by 2030, in line with the ReFuelEU Aviation Regulation.
Funding and Development
OXCCU, a UK start-up, secured $28 million in Series B funding from a syndicate of investors, including United Airlines Ventures and Aramco Ventures. This funding will accelerate the technology's market readiness by supporting its next scale-up phase.
EU Regulations and SAF Benefits
The EU's ReFuelEU Aviation Regulation mandates a 6% share of SAF in aviation fuel by 2030, with 2% as e-SAF. SAF, produced from renewable and waste feedstocks, can reduce greenhouse gas emissions by up to 94% compared to conventional jet fuel.
Technology and Market Impact
OXCCU's technology, developed by University of Oxford researchers, uses an innovative catalyst to simplify e-SAF production, reducing costs. It can also convert mixtures of CO₂, carbon monoxide, and hydrogen into low-cost, low-carbon sustainable aviation fuel from waste biomass.
Source: ORLEN