✈️ Powering Net-Zero Aviation: Announcing Our Investment in Spark e-Fuels.


The aviation industry is at a critical juncture in its decarbonisation journey, and we are thrilled to announce our investment in Spark e-Fuels, a Berlin-based company developing breakthrough load-flexible e-fuel technology.

Scaling Cost-Effective E-Fuels for Aviation

Aviation accounts for approximately 2.5% of global CO₂ emissions - that’s about 1Gt CO₂(e) per year. And as demand for air travel continues to rise, the industry faces mounting pressure to transition away from fossil kerosene. Sustainable aviation fuels (SAFs) are widely recognised as a key part of that solution, but their production remains constrained by high costs, reliance on continuous hydrogen supply, and grid infrastructure limitations.

s is where Spark e-Fuels is making a game-changing impact. Their proprietary e-fuel technology enables the use of cheap, intermittent renewable energy—such as wind and solar—without requiring costly hydrogen storage or continuous power availability. By decoupling key production steps, Spark’s approach cuts costs while ensuring high fuel yields, making e-fuels a viable, scalable alternative to fossil-based aviation fuels.

Why We Invested

Mathias, Julia and Arno are exactly the kind of brilliant, tenacious, scientific founders we love to work with. They identified the need for continuous energy or large amounts of hydrogen storage as a big problem for the current approach to e-fuels and set about to solve it. From the moment we met them through the whole investment process they demonstrated their expertise, passion and drive to build a truly breakthrough e-fuels company.

When it comes to the impact on GHG emissions, Spark’s focus on the massive opportunity in aviation aligns perfectly with our goals. And if you take into account the potential for this technology to be applied in the broader chemicals sector, which is itself a huge GHG emitter, it’s even more appealing.

We are proud to invest alongside Nucleus Capital (lead investor), IBB Ventures, Chemovator, Voyagers.io, and 1.5° Ventures, as well as experienced industry angels formerly from Shell, Lufthansa, BP, Siemens Energy, and McKinsey. This diverse group of backers underscores the confidence in Spark’s commercial viability and global impact potential.

The Road Ahead

With this €2.3 million pre-seed round, Spark e-Fuels is now focused on building its first pilot plant and expanding its team to accelerate commercialisation. Additionally, Spark has secured €300,000 in grants and was recognized as a winner of the 2024 UpLink Sustainable Aviation Challenge from the World Economic Forum, further validating its transformative approach.

We couldn’t be more excited to support Mathias, Julia, Arno and the whole Spark team as they unlock the future of net-zero aviation and transform the role of e-fuels in global decarbonisation. Stay tuned for more updates as they scale their groundbreaking technology!

Risk to capital

This website is intended solely for professional clients and eligible counterparties.

Zero Carbon Capital Limited is an appointed representative of Sapphire Capital Partners LLP which is authorised and regulated by the Financial Conduct Authority. Sapphire Capital Partners LLP is authorised and regulated by the Financial Conduct Authority (Firm Reference Number 565716). Registered office: 28 Deramore Park, Belfast, BT9 5JU, United Kingdom.

Zero Carbon Capital Limited is registered in England and Wales (Company Number 12028532). Registered office: Lake House, 2 Port Way, Port Solent, Portsmouth, PO6 4TY, United Kingdom. Firm Reference Number 916588. Sapphire Capital Partners LLP is responsible for the regulated activities carried on by Zero Carbon Capital Limited.

This website constitutes a financial promotion for the purposes of section 21 of the Financial Services and Markets Act 2000 and is communicated by Sapphire Capital Partners LLP in its capacity as principal. It is directed only at persons who are professional clients or eligible counterparties, or who fall within exemptions available under the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005. It must not be relied upon by retail clients or any other person. The fund is a closed-ended alternative investment fund structured as a limited partnership.

Nothing on this website constitutes investment

advice, a personal recommendation, or an offer to sell or a solicitation of an offer to buy any securities. Any investment opportunity will be subject to separate legally binding documentation and appropriate investor classification and due diligence.

On this website, "we" refers to the combined activities of Zero Carbon Capital Ltd, Sapphire Capital Partners LLP and the funds they advise and manage. 

Investments in early-stage and growth companies involve a high degree of risk. Capital is at risk and investors may lose the entirety of their investment. The value of investments and any income derived from them can go down as well as up. Past performance is not a reliable indicator of future results. Tax treatment depends on individual circumstances and may change in future.

Where investments are made through arrangements operated by Sapphire Capital Partners LLP under its FCA permissions, eligible claimants may have access to the Financial Services Compensation Scheme (FSCS) subject to the FSCS rules and limits. Not all investment activities or losses are covered by the FSCS.

Any references to sustainability, climate impact, carbon reduction or decarbonisation relate to the investment strategy and objectives of portfolio companies. Such statements are based on current methodologies, assumptions and expectations and are not guarantees of future performance or environmental outcomes.

Risk to capital

This website is intended solely for professional clients and eligible counterparties.

Zero Carbon Capital Limited is an appointed representative of Sapphire Capital Partners LLP which is authorised and regulated by the Financial Conduct Authority. Sapphire Capital Partners LLP is authorised and regulated by the Financial Conduct Authority (Firm Reference Number 565716). Registered office: 28 Deramore Park, Belfast, BT9 5JU, United Kingdom.

Zero Carbon Capital Limited is registered in England and Wales (Company Number 12028532). Registered office: Lake House, 2 Port Way, Port Solent, Portsmouth, PO6 4TY, United Kingdom. Firm Reference Number 916588. Sapphire Capital Partners LLP is responsible for the regulated activities carried on by Zero Carbon Capital Limited.

This website constitutes a financial promotion for the purposes of section 21 of the Financial Services and Markets Act 2000 and is communicated by Sapphire Capital Partners LLP in its capacity as principal. It is directed only at persons who are professional clients or eligible counterparties, or who fall within exemptions available under the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005. It must not be relied upon by retail clients or any other person. The fund is a closed-ended alternative investment fund structured as a limited partnership.

Nothing on this website constitutes investment

advice, a personal recommendation, or an offer to sell or a solicitation of an offer to buy any securities. Any investment opportunity will be subject to separate legally binding documentation and appropriate investor classification and due diligence.

On this website, "we" refers to the combined activities of Zero Carbon Capital Ltd, Sapphire Capital Partners LLP and the funds they advise and manage. 

Investments in early-stage and growth companies involve a high degree of risk. Capital is at risk and investors may lose the entirety of their investment. The value of investments and any income derived from them can go down as well as up. Past performance is not a reliable indicator of future results. Tax treatment depends on individual circumstances and may change in future.

Where investments are made through arrangements operated by Sapphire Capital Partners LLP under its FCA permissions, eligible claimants may have access to the Financial Services Compensation Scheme (FSCS) subject to the FSCS rules and limits. Not all investment activities or losses are covered by the FSCS.

Any references to sustainability, climate impact, carbon reduction or decarbonisation relate to the investment strategy and objectives of portfolio companies. Such statements are based on current methodologies, assumptions and expectations and are not guarantees of future performance or environmental outcomes.