Metafuels raises €8M Seed funding to turn green methanol into sustainable aviation fuel
Summary
Today Metafuels, the Swiss developer of a sustainable aviation fuel compatible with existing aircraft, announced it has raised 8 million in Seed funding.The decarbonisation of aviation is one of the greatest technological challenges we currently face.Significant barriers facing electrification (which likely will only ever support short-haul travel) and hydrogen (which faces complications in logistics and aircraft design) mean that viable solutions for travel using these technologies are many years away from being go-to-market ready.In an industry where todays single aircraft have a lifespan of up to 30 years and cost around $100 million apiece, reframing fleets for hydrogen and e-aviation is economically impossible for most long-haul carriers.Metafuels focuses on sustainable aviation fuel made using renewable electricity (eSAF). It does not require the re-engineering or re-purchase of planes nor a redesign of the underlying fueling infrastructure.Metafuels eSAF can replace normal kerosene regardless of the size and type of aircraft or length of route.However, Metafuels approach achieves the lowest cost of production through high efficiency and ultra-high yield of SAF compared to competitors. It offers an up to 90 percent reduction of life cycle emissions without chipping away at food and feed supply chains.Green methanol is a chemical produced from green hydrogen (H) and sustainably sourced carbon dioxide.Green H can be generated from water electrolysis driven by renewable electricity, whilst CO can be captured from biogenic sources, including wastes and residues, in the short-termand through direct air capture in the long term.Its signature blend, the result of years of research, is aerobrew. "Metafuels takes green methanol produced from renewable electricity and sustainable sources of carbon andthrough a two-step processturns it into jet fuel. "Metafuels believes its product will be a viable 100 percent synthetic jet fuel substitute by 2030.The funding comes from climate VCs Energy Impact Partners (EIP) and Contrarian Ventures.The company will use the proceeds to set up a pilot facility.