NEXT Renewable Fuels, founded in 2016 and based in Houston, produces low-carbon fuels from organic feedstock. Its core products will include sustainable aviation fuel, renewable diesel, and other renewable fuels produced at a planned Port Westward, Oregon refinery. The Port Westward refinery is slated to start production in 2026 and could produce up to 50,000 barrels per day. The company is planning a public listing on Nasdaq via a SPAC merger that would rename the business NXTCLEAN Fuels Inc. Financially, United Airlines Ventures announced an equity investment of up to $37.5 million—appearing to be NEXT’s first equity funding—and the SPAC deal assigns a $666 million equity value. NEXT says it is investigating and pursuing potential vertical expansion and aims to become a leading U.S.-based supplier of clean fuels for transportation and aviation.

Total raised

$38M

Funding rounds

1

Latest round

Equity

Latest activity

Nov 2022