Saudi Aramco and Eni to fund $22.7 million in U.K’s staggering British start-up

Friday, June 9, 2023

Oil giants Saudi Aramco and ENI, cooperatively with United Airlines are investing a staggering $22.7 million in British startup OXCCU through their venture units to take forward the astronomical costs of eco–friendly aviation fuel.

This daring venture aims to alter the aviation industry’s carbon emissions, which currently contribute 2% to the world’s alarming climate crisis.

According to a press statement, led by the US-based investor Clean Energy Ventures, this powerful investment aims to supercharge OXCCU’s mission to cut down the exorbitant costs connected with low–carbon aviation fuel.

United Airlines Ventures President Michael Leskinen claimed that sustainable aviation fuel is the commanding weapon in decarbonizing air travel. However, they still struggle with a critical shortage.

Evaluation of diverse technologies conducted by Clean Energy Ventures found OXCCU’s procedure to be absolutely extraordinary within the emerging sustainable aviation fuel industry.

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