24 February 2024

Avioxx secures Pre-Series A investment from leading independent British travel company

Avioxx secures Pre-Series A investment from leading independent British travel company

PRESS RELEASE – New sustainable aviation fuel developer Avioxx proudly announces the successful completion of a significant pre-series A round.

This investment underscores Avioxx's commitment to revolutionising production of sustainable aviation fuel and accelerating their mission to become leaders in harnessing the circular economy to achieve net-zero aviation.

The investment was led by Trailfinders, one of the UK’s leading independent travel companies, and saw enthusiastic interest from private investors and institutions worldwide, demonstrating widespread confidence in Avioxx's vision, technology, and potential. The infusion of capital will be instrumental in bolstering Avioxx's research and development efforts, expanding their market reach, design, and regulatory approval of their first 5,000 tonne-per-year sustainable aviation fuel (SAF) production plant. The company aims to deliver a full scale 32,000 tonne-per-year plant by 2027.

Founders Dr Mike Hancock and Dr Steve Wilkinson
Above: Founders Dr Mike Hancock and Dr Steve Wilkinson

Commenting on the achievement, Co-Founder and CEO Chris Hancock expressed profound gratitude for the unwavering support from Trailfinders and other investors.

"We’ve rapidly prepared Avioxx for a pre-series A round and our partnership with Trailfinders is ideal to support the delivery of our vision. Trailfinders can offer much more than capital with access to their established networks within the travel community and experience. We’re thrilled to accelerate the development of the business and delivery of our initial operational SAF plant is now much closer."

Avioxx's highly innovative approach to production of sustainable aviation has garnered significant attention, leading to the development of partnerships across both the travel, environmental and chemical engineering industries within the UK. The patented and novel system aims to deliver high quality sustainable aviation fuel at price parity to fossil-based aviation fuel and greater emissions reduction with the unique incorporation of Solid Oxide Fuel Cells (SOFCs) to their manufacturing process.

Above: Stack of Solid Oxide Fuel Cells
Above: Stack of Solid Oxide Fuel Cells

The new partnership with Trailfinders, founded in 1970 by Sir Michael Gooley CBE, will boost Avioxx’s presence within the travel sector and open doors to new market opportunities. This strategic alliance cements both parties’ commitment to the transition toward green travel.

"Trailfinders is proud to lead the way and partner with Avioxx to invest in the development of this crucial new technology. Science has always been ingenious in solving our own manmade problems. The creation of sustainable energy will be developed to control emissions and I am pleased to be part of this initiative. Avioxx's plan for SAF is innovative and the prospect of producing a SAF in the UK with a comparable price to current Aviation fuel can only help accelerate adoption." says Sir Michael Gooley CBE, Founder and Executive Chairman of Trailfinders.

Avioxx Co-Founder and Executive Chairman Dr Mike Hancock says:

"We are absolutely delighted to be working with Trailfinders who share our belief that we can engineer better ways of doing things to benefit the planet. Our ambition is to be the number one supplier of high quality and economical sustainable aviation fuel and this investment sets us on course to achieve this.”

With this round of funding, Avioxx is poised to establish its position as a global leader in jet fuel innovation to drive positive environmental change on Earth. The firm is now focused on the detailed design of its 5,000 tonne per year SAF plant and achieving regulatory approval for its high-quality jet fuel. Further rounds of funding will be announced later in the year for the development and construction phase the initial plant which is planned for the northwest of the UK.

For further information, please contact:

Chris Hancock
Chief Executive Officer

About Avioxx:

Avioxx is a sustainable aviation fuel start-up developing technology for scalable manufacturing of green fuels. They harness the efficiency of a unique and patented system to reduce production cost and environmental footprint to offer net-zero to carbon negative fuels at a cost-competitive price. The company was founded in May 2023 with a mission to become leaders in net-zero advanced fuel innovation.