ESG Today writes that the aviation industry as a whole, accounts for 2-3% of the world's whole emissions output. Sustainable aviation fuel (SAF) is being produced from things like used cooking oil and farming waste, which is why it is considered to be a sustainable alternative for powering jet planes.

CleanJoule is another startup working in the field of sustainable aviation fuel production and the American company received a 50 million USD investment to increase the production rate of the aviation's "wonder fuel".

OXCCU is a company that started as a spinoff from the University of Oxford's Chemistry Department back in 2021 and the team behind the project aims to combine CO2 emissions with hydrogen obtained from electrolysis to make not only fuels, but also chemicals and biodegradable plastics.

Andrew Symes, CEO of OXCCU, said that "we’ve built an extraordinary team of senior scientists, engineers and operators, and now backed by this experienced group of investors, we are confident we can scale this technology into a cost-competitive and globally deployable solution to create a sustainable drop-in product for the global aviation market."

Clean Energy Ventures, Eni Next and United Airlines Ventures Sustainable Flight Fund SM were among those who participated in the startup's latest funding round.