Lithuanian Contrarian Ventures invests in Swiss climate tech startup Metafuels

Lithuanian Contrarian Ventures has participated in an €8.7M round of the Swiss developer of cleaner fuels for the aviation industry Metafuels. The round was led by London-based Celsius Industries, US RockCreek, Australia's Fortescue Energy Ventures, and Zurich-based Verve Ventures. The US investment platform Energy Impact Partners also joined the round.

Founded in Zurich in 2021 by Saurabh Kapoor, Leigh Hackett, and Ulrich Koss, Metafuels produces a sustainable aviation fuel aerobrew, generated by converting green methanol into an electro-sustainable aviation fuel (eSAF). To produce eSAF, the company uses methanol synthesis, which either produces methanol from carbon monoxide and hydrogen at high pressure using zinc oxide and copper as catalysts or uses an existing sustainable methanol feedstock and then synthesizes a longer-chain hydrocarbon such as jet fuel from the methanol. The process also involves the use of a catalyst to produce the desired chemical reactions.

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.

In December 2023, Contrarian Ventures participated in the €7,4M seed round of Metafuels. Since then, the startup has launched the laboratory pilot at the Paul Scherrer Institute and now its demo plant is ready for operation at the same location.

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.