Velocys, England’s fuel rebel, secures €37M for future leaps

England-based sustainable fuels technology firm Velocys has announced that it has completed a “take-private transaction” with a consortium of growth investors. The consortium, which includes Carbon Direct Capital, Lightrock, GenZero, and Kibo Investments, has invested €37m ($40m) in Velocys to fund the acceleration of technology delivery, enhance technology leadership, and scale production. Velocys predicts a surge in demand for sustainable aviation fuel due to regulatory support and the increasing availability of drop-in fuel technologies. The company’s Fischer-Tropsch technology produces fuel that is chemically identical to traditional fuels and can be used in aviation and heavy goods transportation without the need for modifications. The investors in Velocys, Carbon Direct Capital, Lightrock and GenZero expressed their excitement about the partnership and backed the management team.