California-based Universal Fuel Technologies (Unifuel) has raised $3 million in seed funding for technology the company says lowers production costs of sustainable aviation fuel (SAF) and related carbon emissions.
Led by TO VC, an early-stage decarbonization fund focused on climate technology companies, the round’s seed funding will go toward advancing Unifuel’s Flexiforming technology and to help establish lab space in Texas for SAF sample production, Unifuel said Oct. 22 in a news release. The technology converts renewable fuels such as ethanol and methanol into SAF, a lower carbon emissions alternative to conventional jet fuel.
The company said its Flexiforming’s aromatic SAF allows for a fully synthetic jet fuel that can be used without blending with conventional jet fuel once 100% SAF is approved by standards organization ASTM International.
“Unifuel has engineered a more efficient SAF production method that dramatically cuts costs while getting the most out of limited resources,” said Joshua Phitoussi, managing partner at TO VC. “The feedstock flexibility of Unifuel’s technology gives the company the ability to work in multiple SAF pathways, partnering with the best players of whatever pathway makes the most sense in a given geography. This ingenuity exemplifies the type of high-impact, scalable solution we believe is essential for reaching net-zero emissions by 2050, making them a strategic addition to TO VC’s portfolio of companies driving the transition to sustainable energy systems.”
Other companies that participated in the seed funding round included Alchemist Accelerator, Claire Technologies and World Star Aviation, according to the release.
Recommended Reading
CNOOC Signs Four Concession Contracts for Exploration Offshore Brazil
2024-10-17 - CNOOC's contracts with Brazil span approximately 2,600 sq km, with water depths ranging from 600 m to 3,000 m.
Classic Rock, New Wells: Permian Conventional Zones Gain Momentum
2024-12-02 - Spurned or simply ignored by the big publics, the Permian Basin’s conventional zones—the Central Basin Platform, Northwest Shelf and Eastern Shelf—remain playgrounds for independent producers.
Freshly Public New Era Touts Net-Zero NatGas Permian Data Centers
2024-12-11 - New Era Helium and Sharon AI have signed a letter of intent for a joint venture to develop and operate a 250-megawatt data center in the Permian Basin.
Nabors, ProPetro Plan to Deliver High Voltage to Drillers
2024-12-10 - Nabors Industries, in partnership with e2Companies, and, separately, ProPetro Holding Corp., both launched oilfield electrification solutions on Dec. 10.
Baytex Completes Sale of Kerrobert Thermal Asset for $42MM
2024-12-23 - Baytex Energy’s divested Kerrobert non-core thermal asset can produce approximately 2,000 bbl/d of heavy oil.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.