ORLEN VC invests in breakthrough technology to produce synthetic aviation fuel
The corporate venture capital fund ORLEN VC has invested in a pioneering technology that converts zero-emission hydrogen and captured carbon dioxide into synthetic sustainable aviation fuel (e-SAF). The innovative solution, developed by UK start-up OXCCU, will support the ORLEN Group’s strategy to expand its role in decarbonising air transport from 2030 onwards, in accordance with the ReFuelEU Aviation Regulation.
“We invest in future-ready technologies to drive the effective transformation of our business. This year, we have introduced SAF – a sustainable aviation fuel derived from renewable and waste feedstocks – into our portfolio. ORLEN’s strategic goal is to rank among its leading producers in Europe by 2035. Our latest investment through ORLEN VC in OXCCU’s technology, which converts green hydrogen and captured CO₂ into synthetic aviation fuel (e-SAF), will put us on track toward that goal. Its market rollout will boost our competitive position and support our path toward carbon neutrality,” says Ireneusz Fąfara, CEO and President of the Management Board of ORLEN.
SAF (Sustainable Aviation Fuel) is produced from renewable and waste feedstocks, including green hydrogen, forestry and agricultural residues, used cooking oil, and captured CO₂. Compared with conventional jet fuel, SAF can reduce greenhouse gas emissions by up to 94%. Aviation currently accounts for about 3% of global CO₂ emissions, which is why the sector has committed to gradually raising SAF’s share in total fuel supply. The EU’s ReFuelEU Aviation Regulation mandates an increasing share of SAF in aviation fuel to 6% by 2030, of which 2% should be e-SAF.
“For us, the challenge currently facing the aviation industry translates into a business opportunity. We aim to build a strong position in the market of sustainable aviation fuel, including e-SAF, by offering stable volumes of this environmentally friendly product at competitive prices. The technology we have invested in has strong potential to give us a competitive edge in the emerging alternative fuels market, and so we intend to actively support its continued development,” adds Grzegorz Jóźwiak, Head of ORLEN’s Hydrogen and Synthetic Fuel Technology Development Office.
OXCCU’s technology, created by researchers from the University of Oxford, is based on an innovative catalyst that significantly simplifies the e-SAF production process, thereby lowering the cost of the end product. The technology also has the ability to convert mixtures of carbon dioxide, carbon monoxide and hydrogen, meaning it can also be used to make low cost, low carbon intensity sustainable aviation fuel from waste biomass such as biogas or wood waste.
“The USD 28 million secured from a syndicate of investors in our Series B fundraising round will allow OXCCU to accelerate growth and the technology’s path to market by funding the next scale-up phase,” says Andrew Symes, CEO of OXCCU.
Alongside ORLEN VC, the investment syndicate includes United Airlines Ventures Sustainable Flight Fund, Aramco Ventures, Eni Next, Trafigura Power Ventures, International Airlines Group (the owner of British Airways), Safran Corporate Ventures and the University of Oxford.
Since early 2025, SAF has been widely deployed across Europe as a viable alternative to traditional aviation fuels. ORLEN already supplies SAF to domestic airports in Warsaw, Kraków and Katowice, as well as in Prague, the Czech Republic. Thanks to deliveries from ORLEN Lietuva, the fuel has also been available on Baltic markets since mid-September, with aircraft in Vilnius, Riga and Tallinn now able to refuel with SAF.
By introducing SAF into its commercial offering, ORLEN is fulfilling the requirements of the EU’s ReFuelEU Aviation Regulation, which mandates a 2% SAF share in total jet fuel supply in 2025. The regulation applies to airports within the European Union that handled more than 800 thousand passengers or 100 thousand tonnes of cargo in the preceding year.
About OXCCU TECH LTD
OXCCU, a spin-out company from the University of Oxford, is developing novel catalysts and reactor designs to convert waste carbon into liquid hydrocarbons with high conversion and selectivity for use as fuels and chemicals. The company is headquartered in the UK, with operations at Begbroke Science Park, Oxford, and London Oxford Airport.
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