In the UK, Velocys, a SAF technology company, announced that it has begun a new chapter following the completion of its take-private on 18 January 2024. As part of the transaction, a new consortium of growth investors, including Carbon Direct Capital, Lightrock, GenZero and Kibo Investments, has infused Velocys with US$40 million of growth capital. The funds will be used to accelerate the delivery of Velocys’ proprietary technology to customer projects, the company said. Henrik Wareborn will continue to lead Velocys’ management team as the Chief Executive Officer. Josh Dienstag, Chief Investment Officer of Carbon Direct Capital, said: “We believe drop-in fuels are the most promising, scalable solution to decarbonize aviation and to deliver climate impact the soonest. Velocys is a scarce supplier with the technology readiness, production capacity, and leadership team to deliver for SAF project partners. We are pleased to be part of this investor consortium and to support Henrik and the Velocys team.”
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