Universal Fuel Technologies Raises $3M to Reduce Sustainable Aviation Fuel Costs by up to 50%
Universal Fuel Technologies (Unifuel) has raised $3 million to advance its Flexiforming technology, which cuts sustainable aviation fuel (SAF) production costs by up to 50% and reduces carbon emissions by 75%. Flexiforming converts diverse renewable feedstocks into 100% synthetic SAF without blending, enabling cost-effective production and better resource utilization
October 22, 2024 06:00 AM Eastern Daylight Time
LOS ALTOS, Calif.–(BUSINESS WIRE)–With the demand for sustainable aviation fuel (SAF) expected to increase tenfold by 2030, Universal Fuel Technologies (Unifuel) has closed $3 million in funding for its Flexiforming technology that cuts SAF production costs by up to 50%, and the related carbon emissions by up to 75%. The seed round, led by TO VC, with participation from Alchemist Accelerator, Claire Technologies, and World Star Aviation, will support the advancement of the company’s proprietary Flexiforming process and help establish lab space in Texas for SAF sample production. Flexiforming, which consists of a series of chemical reactions, converts various renewable materials—including byproducts of other SAF-making technologies—into high-quality SAF that is chemically comparable to conventional jet fuel, paving the way for a 100% synthetic replacement compatible with the existing aircraft fleet.
“Today’s SAF production is challenged by feedstock limitations and expense, which are problems Unifuel’s Flexiforming solves,” said Joshua Phitoussi, managing partner at TO VC. “Unifuel has engineered a more efficient SAF production method that dramatically cuts costs while getting the most out of limited resources. The feedstock flexibility of Unifuel’s technology gives the company the ability to work in multiple SAF pathways, partnering with the best players of whatever pathway makes the most sense in a given geography. This ingenuity exemplifies the type of high-impact, scalable solution we believe is essential for reaching net-zero emissions by 2050, making them a strategic addition to TO VC’s portfolio of companies driving the transition to sustainable energy systems.”
Unifuel’s Flexiforming technology is a chemical process that can convert many sustainable materials, such as ethanol, methanol, renewable naphtha, liquefied petroleum gas (LPG), and others, into high-quality sustainable fuels or chemicals, including SAF. Flexiforming enables an ethanol-to-jet (ETJ) pathway at approximately half the cost of current ETJ processes. Flexiforming is also complementary to the most common SAF production processes by upgrading low-value byproducts, which can create better monetization opportunities for producers and maximize the use of limited raw material resources.
For example, most SAF today is made via HEFA (hydrotreated esters and fatty acids) technology from sources like used cooking oil or animal fat, which produces up to 20% byproduct of naphtha and LPG. These byproducts have considerably lower market value than SAF, restricting monetization opportunities for SAF producers. Flexiforming cost-effectively upgrades the low-value renewable naphtha and LPG into high-value SAF, increasing the return a producer can expect and putting more SAF on the market.
One of the main benefits of Flexiforming is that it creates the aromatic molecules needed for jet engines and other aircraft equipment to run smoothly. Modern airplanes are designed to work with traditional jet fuels that contain a specific ratio of these molecules, so adding them is essential for creating drop-in-ready SAF. While other production methods like HEFA and Fischer-Tropsch make basic fuel components, the addition of Flexiforming’s aromatic SAF allows for a fully synthetic jet fuel that airlines would be able to use without blending with conventional jet fuel once 100% SAF is approved by ASTM International (formerly the American Society of Testing and Materials).
“Sustainable aviation depends upon developing SAF that is not only cost-effective but able to work within the aviation industry as it stands today,” said Alexei Beltyukov, CEO of Universal Fuel Technologies. “With Flexiforming, we can give SAF producers the ability to make affordable, high-quality SAF that has the characteristics needed for aircraft performance and the flexibility to scale at their own rate. We are pleased to have the support of investors who understand the market gap we can fill and will support us as we work to make low-cost drop-in-ready SAF a reality.”
Unifuel’s team has achieved over a decade of research and extensive testing on its Flexiforming technology. With the close of its seed round, the company is preparing to enter the ASTM clearinghouse for SAF certification and will have the capacity to build on its current customer base using the new lab to further demonstrate the technology. To learn more about Unifuel’s journey towards revolutionizing sustainable fuel production, visit unifuel.tech.
About Universal Fuel Technologies
Universal Fuel Technologies is a technology licensing company committed to advancing sustainable fuel production through its Flexiforming chemical process. Cost and energy-efficient, Flexiforming converts renewable feedstocks to drop-in-ready sustainable aviation fuel (SAF). Offering unparalleled flexibility in feedstock selection and scale of deployment, the company helps plant operators easily adapt to market conditions. Flexiforming is compatible with any alcohol feedstock and complements existing SAF processes by upgrading naphtha and LPG to high-value SAF. Backed by a decade of research and over 5,000 hours of testing, Universal Fuel Technologies supports the industry’s transition to renewable fuels with technology that results in fewer carbon emissions and higher revenue generation without increasing feedstock costs. To learn more about Universal Fuel Technologies, please visit unifuel.tech.
About TO VC
TO VC backs vital teams tackling the world’s most pressing challenges. As an early-stage decarbonization venture capital fund, TO VC invests in groundbreaking climate tech companies focused on transforming food systems, energy systems, and pioneering carbon removal solutions. TO VC believes these areas are the key to achieving net-zero greenhouse gas emissions and restoring harmony between humanity and the planet. TO VC is steadfast in its conviction that tomorrow’s giants will be climate innovators and that the most compelling companies today are those dedicated to combating climate change. Discover more at to.vc.
