XFuel, a company focused on producing high-grade sustainable drop-in fuels and carbon removal for the transport sector, has secured €7.7 million in blended finance from the European Innovation Council (EIC), according to the company's release.
The funding will support the company’s efforts to bring its fuel-from-waste technology to transport markets.
XFuel has developed proprietary conversion and refining technologies to produce cost-competitive low-carbon drop-in fuels for the transport sector, utilizing scalable waste materials such as industrial hydrocarbons and biomass residues. These fuels meet fossil fuel specifications and performance, enabling compatibility with existing combustion engines and fossil fuel infrastructure for immediate use.
The company employs two technologies for producing transport fuel: Chemical Liquid Refining (CLR), which refines and cracks hydrocarbon liquids and residues into drop-in fuels for marine, road, and aviation sectors, and Mechanical Carbon Conversion (MECC), which co-processes lignocellulosic waste biomass and waste oils to produce low-carbon transport fuels and biochar.
XFuel claims to be the first company to produce low-carbon drop-in transport fuel at a price point comparable to fossil fuels. The company has already signed memoranda of understanding (MoUs) and letters of intent (LoIs) with off-takers in the maritime sector, including container lines and towage solutions providers.
XFuel is a company specializing in the production of sustainable, high-grade drop-in fuels and carbon removal solutions for the transport sector. Founded by Nicholas Ball, who also serves as its CEO, XFuel has developed proprietary technologies to convert waste materials into low-carbon fuels that align with fossil fuel specifications. The company’s operations focus on utilizing industrial hydrocarbons and biomass residues to create fuels compatible with existing engines and infrastructure in the marine, road, and aviation sectors. Headquartered in Dublin, Ireland, with a presence in Palma de Mallorca, Spain, XFuel has been active since its founding in 2010 and aims to address decarbonization challenges in heavy transport industries.
The European Innovation Council is an initiative under the European Commission designed to support innovation and technology development across Europe. Established to fund high-risk, high-impact projects, the EIC provides financial support through grants, equity investments, and blended finance to startups and small-to-medium enterprises.