Metafuels secures financing in the amount of 24 million dollars

(CONNECT) Metafuels AG, based in Adliswil, has secured 24 million dollars in a financing round. The company intends to use the fresh capital to scale up its production and distribution of sustainable aviation fuel (SAF), according to a press release. The financing round was led by the investment company UVC Partners, based in Munich and Berlin. Energy Impact Partners (EIP), Contrarian Ventures, RockCreek, Verve Ventures and Fortescue are also involved.

According to the statement from UVC Partners, the production of sustainable fuels must be increased 150-fold by 2050. Metafuels intends to use the fresh capital to expand the production and distribution of its methanol-based aviation fuel Aerobrew. The company has created a technology with which methanol can be converted into kerosene. Metafuels' fuels are fully compatible with existing aircraft, engines and airport infrastructure. Metafuels is currently striving to create a Europe-wide sales basis for this sustainable aviation fuel. Metafuels is also preparing a "methanol-to-jet" demonstration plant at the Paul Scherrer Institute (PSI) in Villigen.

"This investment will support the implementation of this unique project and enable the use of aerobrew. Once sustainable fuel is widely available, it will no longer be a constraint but part of the infrastructure," Johannes von Borries, Managing Partner at UVC Partners, is quoted as saying in the press release. "Metafuels has the potential to drive this change - and thus fundamentally change the development of aviation and people's attitude towards flying." Saurabh Kapoor, CEO of Metafuels, sees methanol-to-jet as a way to scale more sustainable aviation fuels and offer them at competitive prices. "With Aerobrew, we are creating a pathway that enables airlines to reduce their CO2 emissions without changing their operations - and has the potential to fundamentally change the future of air travel. "ce/ww