Saudi Arabian Oil Co. and Italy’s Eni have partnered with United Airlines to invest $22.7 million into OXCCU, a UK startup working in clean energy technology. OXCCU is known to make fuel by combining carbon dioxide captured from industry or power plants with hydrogen made using renewably sourced electricity. This process is achieved by using an iron-based catalyst to carry this in one step, thereby replacing the costly two-stage process usually required for the chemical reaction. According to the statement, streamlining the process this way knocks as much as 50 percent off the capital cost and produces fewer byproducts.
The aviation industry is under pressure to reduce its carbon footprint and transition to greener forms of energy. Low-carbon fuel could help the aviation sector achieve this goal. Speaking at an aviation forum last month, Saudi Arabia’s energy minister said that achieving sustainability cannot be achieved by relying on biofuels, and all options — including hydrogen — should be considered to ensure a better low-carbon future.
Sustainable aviation fuel is the best tool we have to decarbonize air travel, but we continue to face a significant supply shortage. The technology developed by OXCCU could resolve the supply problem by using CO2 as a feedstock to produce fuel. This cutting-edge solution could be a cost-effective pathway for United to reach our commitment of net-zero carbon emissions by 2050, without relying on traditional carbon offsets.
Based on the evaluation of dozens of technologies, Clean Energy Venture found OXCCU’s process unique in the emerging sustainable aviation fuel industry. “We see extraordinary potential for this technology to mitigate new aviation fuel production emissions at gigaton-scale in the near future, and we are pleased to lead an extraordinary consortium of industry leaders to support the company in its commercialization and deployment,” said Daniel Goldman, co-founder and managing partner of Clean Energy Ventures.
The investment will be used to facilitate OXCCU’s efforts in slashing the high cost of low-carbon aviation fuel. The aviation industry’s efforts to develop low-carbon fuel at affordable cost received a boost after this deal was struck.
H2: OXCCU: A UK Startup Working in Clean Energy Technology
OXCCU is a UK startup working in clean energy technology. The company makes fuel by combining carbon dioxide captured from industry or power plants with hydrogen made using renewably sourced electricity. This process is achieved by using an iron-based catalyst to carry this in one step, thereby replacing the costly two-stage process usually required for the chemical reaction. Streamlining the process this way knocks as much as 50 percent off the capital cost and produces fewer byproducts.
The venture units of oil firms Saudi Arabian Oil Co. and Italy’s Eni have partnered with United Airlines to invest $22.7 million into OXCCU. Led by US-based investor Clean Energy Ventures, the investment will be used to facilitate OXCCU’s efforts in slashing the high cost of low-carbon aviation fuel, according to a statement.
H2: Sustainable Aviation Fuel: The Best Tool to Decarbonize Air Travel
Sustainable aviation fuel is the best tool we have to decarbonize air travel, but we continue to face a significant supply shortage. The aviation industry is under pressure to reduce its carbon footprint and transition to greener forms of energy. Low-carbon fuel could help the aviation sector achieve this goal.
Speaking at an aviation forum last month, Saudi Arabia’s energy minister said that achieving sustainability cannot be achieved by relying on biofuels, and all options — including hydrogen — should be considered to ensure a better low-carbon future.
H2: OXCCU’s Unique Process in the Emerging Sustainable Aviation Fuel Industry
Based on the evaluation of dozens of technologies, Clean Energy Venture found OXCCU’s process unique in the emerging sustainable aviation fuel industry. “We see extraordinary potential for this technology to mitigate new aviation fuel production emissions at gigaton-scale in the near future, and we are pleased to lead an extraordinary consortium of industry leaders to support the company in its commercialization and deployment,” said Daniel Goldman, co-founder and managing partner of Clean Energy Ventures.
OXCCU’s process is unique because it streamlines the process of making low-carbon aviation fuel. The company makes fuel by combining carbon dioxide captured from industry or power plants with hydrogen made using renewably sourced electricity. This process is achieved by using an iron-based catalyst to carry this in one step, thereby replacing the costly two-stage process usually required for the chemical reaction. Streamlining the process this way knocks as much as 50 percent off the capital cost and produces fewer byproducts.
H2: Investment Boosts Aviation Industry’s Efforts to Develop Low-Carbon Fuel
The aviation industry’s efforts to develop low-carbon fuel at affordable cost received a boost after a deal was struck to invest $22.7 million into a UK startup working in clean energy technology. The venture units of oil firms Saudi Arabian Oil Co. and Italy’s Eni have partnered with United Airlines to invest the amount into OXCCU, a company spun out from the University of Oxford.
The investment will be used to facilitate OXCCU’s efforts in slashing the high cost of low-carbon aviation fuel. According to a statement, streamlining the process this way knocks as much as 50 percent off the capital cost and produces fewer byproducts.
H2: Conclusion
The aviation industry is under pressure to reduce its carbon footprint and transition to greener forms of energy. Low-carbon fuel could help the aviation sector achieve this goal. Sustainable aviation fuel is the best tool we have to decarbonize air travel, but we continue to face a significant supply shortage. The technology developed by OXCCU could resolve the supply problem by using CO2 as a feedstock to produce fuel. This cutting-edge solution could be a cost-effective pathway for United to reach our commitment of net-zero carbon emissions by 2050, without relying on traditional carbon offsets. The investment made by Saudi Arabian Oil Co., Italy’s Eni, and United Airlines into OXCCU will boost the aviation industry’s efforts to develop low-carbon fuel at affordable cost.