Priya Patel
TL;DR:
Venture capital firm Velocys has secured a $40m investment round to develop its sustainable aviation fuel (SAF) technology, aimed at reducing the industry’s carbon footprint. The funding will be used to refine the company’s Fischer-Tropsch process and reactor technology, enhancing efficiency and lowering emissions. The UK-based firm’s SAF technology offers a viable near-term solution for cleaner skies, producing up to 80% less emissions than traditional jet fuel. Velocys converts diverse feedstocks, including household waste and green hydrogen, into drop-in SAF that is compatible with existing aircraft engines. The investment will also support the expansion of the company’s reactor manufacturing facility in Ohio, as well as its collaboration with major airlines on a commercial-scale SAF production facility in the UK.
Key points in the article:
- Sustainable aviation fuel (SAF) offers a near-term solution for reducing the aviation industry’s carbon footprint.
- Venture capital firm Velocys has secured a $40m investment to develop its SAF technology.
- Velocys’ Fischer-Tropsch process and reactor technology allows for the conversion of diverse feedstocks into drop-in SAF.
- The investment will fund the refinement of the company’s technology, as well as the expansion of its reactor manufacturing facility in Ohio.
- Velocys has a strategic partnership with major airlines, including British Airways, to develop a commercial-scale SAF production facility in the UK.
Read the full article on AeroXplorer.
