Universal Fuel Technologies, a Los Altos, CA-based sustainable fuel production company, raised $3M in Seed funding.
The round was led by TO VC, with participation from Alchemist Accelerator, Claire Technologies, and World Star Aviation.
The company intends to use the funds for the advancement of its proprietary Flexiforming process and establish lab space in Texas for SAF sample production.
Led by CEO Alexei Beltyukov, Universal Fuel Technologies is a technology licensing company committed to advancing sustainable fuel production through its Flexiforming chemical process. Its 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. It 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.
FinSMEs
22/10/2024