IAG Invests in OXCCU's Net-Zero Jet Fuel Tech
International Airlines Group (IAG) has invested in OXCCU's £20.75 million Series B funding round, backing the company's innovative process that converts waste carbon gases and hydrogen into jet fuel hydrocarbons. This move aligns with IAG's ambitious goal to be the first airline group to achieve net zero by 2050.
OXCCU's technology removes a conventional step in the process, reducing costs and waste. IAG, through its corporate venturing arm IAGi Ventures, has committed up to €200 million over five years to support such innovative solutions. Ignacio Tovar, IAG's Director of Innovation, praised OXCCU's technology as vital for scaling sustainable aviation.
IAG has been actively working towards its sustainability goals. In 2024, it used 1.9% Sustainable Aviation Fuel (SAF), saving 469,000 tonnes of CO2, nearly double the previous year. The airline aims to reach 10% SAF usage by 2030. OXCCU's new funding will help it scale up and commercialise its technology, following the opening of its first demonstration plant in 2021. A larger OXCCU facility is expected to be operational in 2026, supporting the UK's SAF mandate and IAG's decarbonisation goals.
IAG's investment in OXCCU's Series B funding round signals its commitment to innovative solutions for sustainable aviation. With OXCCU's technology, IAG can further reduce its carbon footprint, moving closer to its net zero goal by 2050.
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