Oxford University spin-out OXCCU has raised £20.75 million ($28 million) in an oversubscribed Series B funding round. The spin-out is developing a one-step process to convert carbon waste into sustainable aviation fuel (SAF).
The funding round included new investors such as Orlen VC, Safran Corporate Ventures, IAGiVentures, Hostplus, and TCVC. These new investors were alongside established investors including Clean Energy Ventures, IP Group/Kiko Ventures, Aramco Ventures, Eni Next, Braavos Capital, and the University of Oxford.
OXCCU said the new capital will allow it to accelerate its commercialisation efforts, expand its operations, and advance its next phase of technology scale-up.
“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.
According to OXCCU's website, it is planning a Series C funding round in the first quarter of 2027, and is expecting to raise between $50 million and $100 million.