In Bulgaria, Renewables Now reported that Swiss company Metafuels has closed a $9 million funding round. The transaction was led by Celsius Industries. It attracted support from both new investors, including RockCreek, Fortescue Ventures and Verve Ventures, and existing backers like Energy Impact Partners (EIP) and Contrarian Ventures, according to the report. The report also stated that the funds will be used to demonstrate Metafuels’ full chain production process, called aerobrew, and advance the development of its first industrial-scale projects. “We have now raised $ 22 million since launching, which is going to allow us to complete the demonstration program and focus on industrialization and the commercial rollout for our e-SAF offering. We will be looking at implementing a number of new sustainable aviation fuel production sites and are already engaging with various stakeholders as potential investors or e-SAF off-takers,” CEO and co-founder Saurabh Kapoor said. Founded in 2021, Metafuels specializes in SAF production using renewable electricity.
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