CATAGEN, a Belfast-based company specialising in technologies to reduce carbon and other emissions, has secured commercial funding supported by a guarantee from UK Export Finance (UKEF). UKEF is the government's export credit agency.
This financing is intended to enable the company to expand its subsidiary, ClimaHtech Green Flight, which produces sustainable aviation fuel (SAF). SAF is described as a lower carbon alternative to conventional jet fuel, made from more sustainable sources than fossil fuels.
Minister for Trade Anas Sarwar stated that CATAGEN is the type of innovative business the government aims to support to drive growth. Minister for Northern Ireland Sarah Owen added that the support backs CATAGEN and Northern Ireland's skilled workforce, helping the region in sustainable aviation and technology.
Dr. Andrew Woods, CEO and Founder of CATAGEN, said the UKEF backing has been crucial in bridging the gap between late-stage product development and commercialisation, accelerating their SAF technology towards the market.