Key Takeaways
- Vertoro has closed the first tranche of a €17 million Series B round, comprising €10 million in newly contributed capital and €7 million in converted loan notes, led by Climate Tech Partners, Invest-NL, and Maersk.
- Additional investors include Energietransitiefonds Rotterdam, LIOF, SHIFT, and Chemelot Ventures, with Transition Finance Network Ltd (TFN) supporting the transaction.
- The funding will scale Vertoro's technology that converts plant-based waste into a flexible renewable oil used to produce low-carbon fuels and chemicals.
- Vertoro's process operates at low pressure and temperature without catalysts, aiming for structurally lower capital and operating costs compared with conventional biofuel technologies.
- The company is operating a demonstration plant and has partnered with Raizén, the world's largest sugarcane ethanol producer, as it prepares for commercial deployment through a licensing model.
Vertoro Closes €17 Million Series B Round
Vertoro, a renewable oil company, has announced the first closing of its €17 million Series B round, consisting of €10 million in newly contributed capital and €7 million in converted loan notes. Climate Tech Partners, Invest-NL, and Maersk participated as key investors, with further contributions from Energietransitiefonds Rotterdam, LIOF, SHIFT, and Chemelot Ventures. The round will primarily fund continued scaling of Vertoro's technology, which converts plant-based waste into a flexible renewable oil used to produce low-carbon fuels and chemicals.
The company frames its technology as supporting energy security objectives amid heightened geopolitical risk, enabling countries to convert locally available waste feedstocks into a domestic supply of renewable oil and reduce reliance on imported fossil fuels.
A Scalable Alternative to Fossil Crude
Vertoro's process operates at low pressure and temperature without catalysts, a structurally simpler approach than conventional biofuel technologies that the company says is designed to deliver lower capital and operating costs. Combined with a modular plant design, the approach positions Vertoro as a potential cost leader in the emerging bio-based fuels and chemicals market.
Unlike many single-application technologies, Vertoro's product is designed for flexibility, deployable across multiple end markets to support near-term revenue while enabling longer-term scale within the broader renewable feedstock economy.
Multi-Market Path from Chemicals to Aviation Fuel
Vertoro's initial commercial focus is on higher-value chemical applications, where its oil can serve as a sustainable feedstock for materials and industrial products such as thermoplastics. From there, the same oil can be deployed as a drop-in fuel for maritime shipping, targeting near-term emissions reductions in one of the hardest-to-abate transport sectors. In parallel, Vertoro is advancing pathways to upgrade the renewable oil into sustainable aviation fuel.
“Vertoro is building a bridge between sustainable biomass and the global fuel system. By creating a renewable oil that can serve multiple industries, from chemicals to shipping to aviation, we can scale faster and deliver meaningful emissions reductions sooner,” said Dirk den Ouden, incoming CEO of Vertoro.
The company notes that its product is compatible with existing refinery infrastructure, avoiding the need for entirely new supply chains and enabling faster, more capital-efficient adoption across these end markets.
Vertoro Path to Commercial Deployment and Industry Backing
Vertoro is currently operating a demonstration plant to validate its technology at scale, producing material for testing and customer trials while continuing to refine efficiency and scalability. With a portfolio of multiple patent families, the company is preparing for commercial deployment through a licensing model and future large-scale facilities, working with partners including Raizén, the world's largest sugarcane ethanol producer.
Climate Tech Partners' contribution to the round is backed by the Airbus-Qantas Sustainable Aviation Fuel partnership, established in 2022 to foster SAF production and support aviation decarbonisation.
“SAF has the potential to reduce aviation emissions by up to 80% on a thru-life basis. Renewable energy companies like Vertoro are helping make this a reality while addressing the need to fast-track fuel security by bringing production closer to the source of feedstocks,” said Julien Manhes, Airbus Head of Sustainable Aviation Fuel and Carbon Dioxide Removal.
