Today Metafuels, the Swiss developer of a sustainable aviation fuel compatible with existing aircraft, announced it has raised €8 million in Seed funding.
The decarbonisation of aviation is one of the greatest technological challenges we currently face.
Significant barriers facing electrification (which likely will only ever support short-haul travel) and hydrogen (which faces complications in logistics and aircraft design) mean that viable solutions for travel using these technologies are many years away from being go-to-market ready.
In an industry where today's single aircraft have a lifespan of up to 30 years and cost around $100 million apiece, reframing fleets for hydrogen and e-aviation is economically impossible for most long-haul carriers.
Metafuels focuses on sustainable aviation fuel made using renewable electricity (eSAF). It does not require the re-engineering or re-purchase of planes — nor a redesign of the underlying fueling infrastructure.
Metafuels' eSAF can replace normal kerosene regardless of the size and type of aircraft or length of route.
However, Metafuels' approach achieves the lowest cost of production through high efficiency and ultra-high yield of SAF compared to competitors. It offers an up to 90 percent reduction of life cycle emissions without chipping away at food and feed supply chains.
Green methanol is a chemical produced from green hydrogen (H₂) and sustainably sourced carbon dioxide.
Green H₂ can be generated from water electrolysis driven by renewable electricity, whilst CO₂ can be captured from biogenic sources, including wastes and residues, in the short-term—and through direct air capture in the long term.
Its signature blend, the result of years of research, is aerobrew. This is sustainably produced kerosene, made from a two-step process that turns green methanol to kerosene.
Saurabh Kapoor, CEO and co-founder of Metafuels, shared:
"Metafuels takes green methanol produced from renewable electricity and sustainable sources of carbon and—through a two-step process—turns it into jet fuel.
We don't want people to fly less, we want them to be able to do so more—to experience other cultures, and to play a role in a globalised economy—without there being a negative climate impact."
Metafuels believes its product will be a viable 100 percent synthetic jet fuel substitute by 2030.
The funding comes from climate VCs Energy Impact Partners (EIP) and Contrarian Ventures.
Ashwin Shashindranath, Partner at Energy Impact Partners, shared:
"Metafuels' expertise and engineering offer a pivotal opportunity to revolutionise sustainable aviation fuel (SAF) technology at a crucial time.
SAF solutions like Metafuels are essential for a seamless transition to greener travel methods without altering people's flying habits while also ensuring sustainability."
The company will use the proceeds to set up a pilot facility.
Lead image: Metafuels. Photo: Uncredited.
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