A READING-based law firm helped broker an £18 million deal aimed at creating sustainable aviation fuel.
Lawyers at Osborne Clarke helped Oxford University climate tech spin-out OXCCU on its Series A fundraising round to allow it to continue to develop novel catalysts and reactor designs. These combine captured carbon dioxide and renewably-sourced green hydrogen, resulting in a more cost-effective and decarbonised alternative to fossil-based jet fuel for commercial airlines.
The Series A round was led by Clean Energy Ventures with participation from investors Aramco Ventures, Eni Next, the corporate venture arm of Italian energy company Eni, United Airlines Ventures Sustainable Flight Fund SM, and Braavos Capital alongside existing investor Kiko Ventures, and the University of Oxford. Trafigura, TechEnergy Ventures and Doral Energy-Tech Ventures also participated in the round.
Osborne Clarke’s team was led by Rob Hayes and included associate director Elizabeth Yell, and paralegal Fern Tawera.
“OXCCU’s technology is very exciting and will no doubt play a major role in decarbonisation and net zero initiatives for future global sustainability,” said Mr Hayes.
Andrew Symes, CEO of OXCCU, said: “Given the number of legal advisers involved, the Osborne Clarke team was extremely adept at getting the right balance between protecting the company and taking a considered commercial and pragmatic approach in helping us get the deal completed.
“We were very pleased to have them on board.”
