OXCCU, the Oxford University spin-out developing a one-step process to convert waste carbon into sustainable aviation fuel (SAF), has raised £20.75 million ($28 million) in an oversubscribed Series B funding round.

The round welcomed new investors Orlen VC, Safran Corporate Ventures, International Airlines Group (IAG), Hostplus, and TCVC, alongside continued support from Clean Energy Ventures, IP Group/Kiko Ventures, Aramco Ventures, Eni Next, Braavos Capital, and the University of Oxford.

Funding will accelerate commercialisation, expand operations, and advance scale-up. It follows the commissioning of OX1, the company’s demonstration plant at London Oxford Airport in 2024. Construction of its second facility, OX2, is underway and scheduled to be fully operational in 2026.

OXCCU’s patented iron-based catalyst enables the direct synthesis of jet-fuel-range hydrocarbons from waste carbon and hydrogen in a single exothermic step. By eliminating multiple stages in conventional e-fuel production, the technology lowers both capital and operating costs while reducing carbon intensity.

The investment reflects growing recognition that cost reduction is central to making SAF commercially viable at scale. OXCCU’s solution also has applications beyond aviation, including chemicals and plastics.