Lithuanian Contrarian Ventures invested in Swiss climate tech Metafuels

Lithuanian Contrarian Ventures was a lead investor in a €7,4M seed round of a Swiss developer of cleaner fuels for the aviation industry Metafuels. The US investment platform Energy Impact Partners was a co-leader in this round. With the deal, Partner at Energy Impact Partners Ashwin Shashindranath and Managing Partner and Founder at Contrarian Ventures Rokas Peciulaitis will join the company’s board.

Founded in Zurich in 2021 by Saurabh Kapoor and Leigh Hackett, Metafuels manufactures a sustainable aviation fuel aerobrew, generated by converting green methanol into an electro-sustainable aviation fuel (eSAF). Green methanol is a chemical product, made from green hydrogen (H₂) and sustainably-sourced carbon dioxide. Green H₂ can be generated from water electrolysis driven by renewable electricity, and CO₂ is captured from biogenic sources, such as wastes and residues.

Being a replacement for standard kerosene, the fuel developed by the startup does not require any modifications of existing airplanes or aviation infrastructure. It will be suitable for short and long-distance flights.

The startup will use the investment to build a pilot plant at the Paul Scherrer Institut in Switzerland for developing, testing, and bringing to the market the new fuel. The startup's team will start the work on the plant in 2024. In addition, Metafuels is increasing its personal.

Founded in Vilnius in 2017, Contrarian Ventures is a seed-stage venture company focused on investment in climate startups from Europe and Israel. The fund usually invests around €1,5M to €4M. Currently, it has offices in Vilnius, Berlin and London. Apart from Rokas Peciulaitis, the other partners at Contrarian Ventures are Alexey Morgunov and Tomas Kemtys.