Swiss start-up Metafuels raises USD 9m to advance e-SAF production
Metafuels has closed a USD-9-million (EUR 8.73m) oversubscribed funding round as the Swiss sustainable aviation fuel (SAF) producer pushes ahead with plans to bring its methanol-to-jet fuel technology to market.The transaction was led by Celsius Industries. It attracted support from both new investors, including RockCreek, Fortescue Ventures and Verve Ventures, and existing backers like Energy Impact Partners (EIP) and Contrarian Ventures.The funds will be used to demonstrate Metafuels’ full chain production process, called aerobrew, and advance the development of its first industrial-scale projects, a press statement says.“We have now raised USD 22 million since launching, which is going to allow us to complete the demonstration programme and focus on industrialisation and the commercial rollout for our e-SAF offering. We will be looking at implementing a number of new sustainable aviation fuel production sites and are already engaging with various stakeholders as potential investors or e-SAF off-takers,” CEO and co-founder Saurabh Kapoor noted.Founded in 2021, Metafuels specialises in SAF production using renewable electricity. It describes its technology for conversion of e-methanol into e-SAF as cheaper, more efficient and compatible with existing aircrafts.Over the past two years, the company managed to advance from lab research to demonstration and production scale-up. In 2024, the Zurich-based firm announced two facilities -- a demonstration site in Switzerland as well as a production facility in Denmark which was agreed upon with European Energy in May after a memorandum of understanding signed in 2023.The Danish project is in the development phase and will be built next to a future Power-to-X facility from European Energy. Metafuels said that it has already engaged in early offtake conversations for the site, which is expected to produce 12,000 litres (3170 gal) of e-SAF daily.(USD 1 = EUR 0.971)
Metafuels has closed a USD-9-million (EUR 8.73m) oversubscribed funding round as the Swiss sustainable aviation fuel (SAF) producer pushes ahead with plans to bring its methanol-to-jet fuel technology to market.
The transaction was led by Celsius Industries. It attracted support from both new investors, including RockCreek, Fortescue Ventures and Verve Ventures, and existing backers like Energy Impact Partners (EIP) and Contrarian Ventures.
The funds will be used to demonstrate Metafuels’ full chain production process, called aerobrew, and advance the development of its first industrial-scale projects, a press statement says.
“We have now raised USD 22 million since launching, which is going to allow us to complete the demonstration programme and focus on industrialisation and the commercial rollout for our e-SAF offering. We will be looking at implementing a number of new sustainable aviation fuel production sites and are already engaging with various stakeholders as potential investors or e-SAF off-takers,” CEO and co-founder Saurabh Kapoor noted.
Founded in 2021, Metafuels specialises in SAF production using renewable electricity. It describes its technology for conversion of e-methanol into e-SAF as cheaper, more efficient and compatible with existing aircrafts.
Over the past two years, the company managed to advance from lab research to demonstration and production scale-up. In 2024, the Zurich-based firm announced two facilities -- a demonstration site in Switzerland as well as a production facility in Denmark which was agreed upon with European Energy in May after a memorandum of understanding signed in 2023.
The Danish project is in the development phase and will be built next to a future Power-to-X facility from European Energy. Metafuels said that it has already engaged in early offtake conversations for the site, which is expected to produce 12,000 litres (3170 gal) of e-SAF daily.
(USD 1 = EUR 0.971)
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