XFuel scores $8.25M in latest investment round

In Ireland, sustainable energy pioneer XFuel announced it has secured €8.2 million in its latest round of investment, laying the foundation for the commercialization of its next-generation synthetic diesel, marine and jet fuel technology.

XFuel’s patented technology efficiently converts biomass waste into low-cost, drop-in fuel that can be used in road, marine, and aviation applications. It uses feedstock from sustainable waste sources in manufacturing, construction, forestry, and agriculture. Its fuels comply with marine and road fossil fuel specifications, and can therefore be used in existing infrastructure and engines, either blended with conventional fuels or as a replacement. 

Using modular and scalable biorefineries, XFuel can produce high-grade fuels at a comparable or lower price point to fossil-based fuels on the market. Independent assessments have shown that XFuel’s technology can currently deliver fuel with GHG savings of 85%, with potential to deliver carbon-neutral and negative fuels in the future. The technology enables cost-efficient and transformative carbon emissions reductions today without requiring significant capital investment.

Investors in the oversubscribed financing round include Germany’s AENU led by Ferry Heilemann, New York-based Union Square Ventures (USV), and HAX/SOSV, alongside other backers. The investment will drive the commercialization of XFuel’s technology and assist in deploying a pipeline of global projects across road, maritime, and aviation.  Feedstock for four projects has already been secured through a deal with a leading waste wood consolidator operating in the UK and Ireland.