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Metafuels, a leading developer of sustainable aviation fuel (SAF) technology compatible with existing aircraft, has raised $9 million in its latest funding round. The investment, led by Celsius Industries, also saw participation from new backers RockCreek, Fortescue Ventures, and Verve Ventures, along with existing investors Energy Impact Partners (EIP) and Contrarian Ventures.
The funding brings Metafuels’ total raised to $22 million within just two years, solidifying its position as one of Europe’s most well-funded SAF startups. This momentum follows significant technological breakthroughs in 2023 and 2024, marking a shift from laboratory research to demonstration and production scaling.
Metafuels also secured a $5 million grant from Switzerland's Federal Office of Energy through a collaboration with the PSI Institute, further boosting its financial backing and research capabilities.
Earlier this year, Metafuels announced a partnership with European Energy to establish a synthetic SAF (e-SAF) production facility in Denmark. Once operational, the facility will produce approximately 12,000 litres of e-SAF daily, significantly advancing the company’s efforts to decarbonise the aviation sector.
Chairman Leigh Hackett commented: “The buyers alliance is something that we’re actively considering in support of our plans for e-SAF capacity build-out as we scale-up and industrialise our technology. By coming alongside us, participants will have privileged insights into technology developments, play an important role in bringing this much needed technology to market, all while securing increasing volumes of e-SAF to meet their decarbonisation obligations.”
Saurabh Kapoor, CEO and co-founder of Metafuels added: “We are thrilled to have Celsius, RockCreek, Fortescue and Verve onboard as new strategic partners. We have now raised $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.”
Michele Tarawneh, Managing Partner at Celsius Industries, said: “We have been tracking methanol-to-SAF as a key pathway to decarbonise aviation for the past 18 months, and Metafuels stands out as the most compelling player in the space: an experienced team, with a unique technology insight, and a tangible path to establish production capacity in the near-term. We are thrilled to work with Saurabh, Leigh and the team to help them accelerate their path to industrialisation and first-of-a-kind (FOAK) project finance, enabling the roll-out of mission-critical infrastructure for green fuels."
Metafuels is poised to play a pivotal role in the aviation industry’s transition to sustainability. With strong financial backing and strategic partnerships, the company is accelerating the development and production of SAF, paving the way for a greener future in aviation.
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