International legal practice Osborne Clarke has advised OXCCU, a leading carbon-to-value company converting carbon dioxide and hydrogen into industrial and consumer products, on its US $22.7 million (£18 million) Series A fundraising round to commercialise cost-effective sustainable aviation fuel (SAF).

Osborne Clarke's team advising OXCCU was led by partner Rob Hayes and included associate director Elizabeth Yell and paralegal Fern Tawera.

OXCCU’s sustainable aviation fuel is created by combining captured carbon dioxide and renewably-sourced green hydrogen through a novel iron-based catalyst, resulting in a more cost-effective and decarbonised alternative to fossil-based jet fuel for commercial airlines. The financing will allow OXCCU to accelerate growth and its path to market by scaling-up its technology.

The Series A round was led by Clean Energy Ventures with participation from investors Aramco Ventures; Eni Next, Eni (the corporate venture arm of Italian energy company); United Airlines Ventures Sustainable Flight Fund SM; and Braavos Capital alongside existing investor Kiko Ventures, and University of Oxford. Trafigura, TechEnergy Ventures and Doral Energy-Tech Ventures also participated in the round.

Rob said: "We were delighted to support OXCCU on such a major fundraise from such a large syndicate of high profile investors. OXCCU's technology is very exciting and will no doubt play a major role in decarbonisation and net zero initiatives for future global sustainability."

Andrew Symes, CEO of OXCCU, said: "It was great to have Rob and Elizabeth to help guide us through the transaction. Given the number of legal advisers involved, the Osborne Clarke team was extremely adept at getting the right balance between protecting the company and taking a considered commercial and pragmatic approach in helping us get the deal completed. We were very pleased to have them on board."

Osborne Clarke's international venture capital team is a go-to practice for companies operating in tech-enabled industries. From start-up through venture financing and the growth journey beyond, whether continuing to sale, IPO or international expansion, the team has an outstanding track record advising businesses, entrepreneurs and investors that are driving innovation. Osborne Clarke's dedicated resource centre, OC Ventures, brings together experts from across our international network to deliver a holistic seamless service to clients throughout the ventures ecosystem.

Osborne Clarke has an established and well-respected position as one of the leading law firms advising on renewable energy projects and transactions. As businesses strive to meet the challenges of decarbonisation, Osborne Clarke is supporting its clients on projects to procure, fund and develop the sustainable infrastructure, buildings and land use of the future. The team’s experience and understanding of the energy sector means they are well placed to advise on your decarbonisation journey.


OXCCU TECH LTD, a climate tech spin-out company from the University of Oxford, is developing novel catalysts and reactor designs to convert carbon dioxide and hydrogen into hydrocarbons with high conversion and selectivity for use as fuels, chemicals and plastics. The company is headquartered in the UK, with operations at Begbroke Science Park, Oxford, and London Oxford Airport.

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