OXCCU raises £20 million in funding to scale SAF from waste carbon

OXCCU, the Oxford University spin-out developing a one-step process to convert waste carbon into SAF, has raised £20.75 million (€23.8 million) in an oversubscribed Series B funding round.
The round includes new investors Orlen VC, Safran Corporate Ventures, IAGi Ventures (the dedicated corporate venturing arm of the International Airlines Group (IAG), Hostplus, and TCVC, alongside continued support from existing backers Clean Energy Ventures, IP Group/Kiko Ventures, Aramco Ventures, Eni Next, Braavos Capital and the University of Oxford.
This new capital will enable OXCCU to accelerate its commercialisation efforts, expand its operations, and advance its next phase of technology scale-up. It builds on the launch of the company’s OX1 demonstration plant at London Oxford Airport in 2024. Their second demonstration plant, OX2, is underway and will 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, the clarity of our mission, and the urgency of the problem we’re solving,” said Andrew Symes, CEO of OXCCU. “What we’re seeing is that serious players with truly distinctive technologies are still getting funded.”
The funding reflects increasing recognition that driving down SAF production costs is critical to unlocking aviation decarbonisation at scale.
OXCCU’s process simplifies SAF production pathways by eliminating the need for reverse water gas shift or e-methanol steps.
Instead, its patented iron-based catalyst enables the direct synthesis of jet-fuel-range hydrocarbons from gaseous waste carbon in a single exothermic reaction. This reduces capital and operating costs, and reduces the carbon intensity of the fuel.