Skift Take
More renewable jet fuel companies are raising money to develop products, but a lot more money is needed to reach the industry's zero-emissions goals by 2050.
Travel Startup Funding This Week
Each week we round up travel startups that have recently received or announced funding. Please email Travel Tech Reporter Justin Dawes at [email protected] if you have funding news.
Three travel startups have announced fundraises of nearly $90 million over the last week.
>>Velocys, which develops tech to enable renewable jet fuel production, has raised $40 million from a new group of owners and investors.
The company previously traded on the London Stock Exchange but became a private company last month with funding from Carbon Direct Capital, Lightrock, GenZero, and Kibo Investments.
The England-based company said it makes reactors that clients can use to convert a number of products into jet fuel, known as sustainable aviation fuel. The company says its technology is compatible with a number of feedstocks, including municipal solid waste, woody biomass, carbon diox