Irish sustainable energy firm XFuel raises €8.2 million

Backers include former Dragon’s Den star Sean O’Sullivan and AENU, a new €100 million climate tech fund founded by millionaire brothers Fabian and Ferry Heilemann

XFuels chief executive Nicholas Ball: “For us to reach carbon neutrality and make an impact today, we need liquid fuel replacements that are net-zero, sustainable, drop-in and cost-effective.”

XFuel, an Irish sustainable energy company, has raised €8.2 million in funding from backers that include SOSV, the venture capital firm originally founded in Cork as a personal investment fund for tech veteran Sean O'Sullivan.

The funding is to be used by the company to commercialise its low-cost synthetic diesel, marine and jet fuel technology which derives from biomass waste.

XFuel, which is led by Nicholas Ball, has developed patented technology that converts feedstock obtained ...