Sustainable aviation fuel developer Avioxx has successfully completed its pre-series A funding round, with investment led by independent UK travel company Trailfinders.
The new partnership will be instrumental in bolstering the UK startup’s research and development efforts, expanding its market reach, and for the design and regulatory approval of its first 5,000 tonne a year sustainable aviation fuel (SAF) production plant. Avioxx’s proprietary technology, which incorporates solid oxide fuel cells in the manufacture of SAF, aims to help deliver high quality fuel at price parity to conventional counterparts.
“We’ve rapidly prepared Avioxx for a pre-series A round and our partnership with Trailfinders is ideal to support the delivery of our vision,” highlighted Avioxx co-founder and CEO Chris Hancock. “Trailfinders can offer much more than capital with access to their established networks within the travel community and experience.”
Sir Michael Gooley CBE, founder and executive chairman of Trailfinders, described Avioxx’s approach as “innovative”; adding that “the prospect of producing SAF in the UK with a comparable price to current aviation fuel can only help accelerate adoption”.
Avioxx will announce further funding rounds later in the year for the development and construction phase of its plant, which is planned for the northwest of the UK.
Avioxx secures pre-series A investment from Trailfinders
