French greentech company Khimod has secured €23 million in fresh funding to fast-track the industrial rollout of its e-methanol and sustainable aviation fuel (e-SAF) production projects. The capital raise marks a significant shift for the six-year-old startup, previously fully owned by Alcen, as it opens its capital to new strategic investors.

The round was led by the SPI (Sociétés de Projets Industriels) fund, managed by Bpifrance on behalf of the French government under the France 2030 initiative, and the industrial decarbonisation fund of Audacia. Alcen also contributed to the round. The funding will enable Khimod to deploy its first operational production units within the next 18 months, targeting hard-to-decarbonise sectors such as maritime transport and aviation.

Khimod’s technology focuses on converting captured CO₂ into low-carbon fuels like e-methanol and synthetic SAF, offering a viable route to decarbonisation at scale. The company’s expansion comes as Europe ramps up support for innovative fuels that can help meet climate targets while reducing reliance on fossil-based transport fuels.