{"id":136393,"date":"2024-01-02T07:20:00","date_gmt":"2024-01-02T06:20:00","guid":{"rendered":"https:\/\/renewable-carbon.eu\/news\/?p=136393"},"modified":"2023-12-18T12:19:08","modified_gmt":"2023-12-18T11:19:08","slug":"efuels-leader-infinium-receives-75m-equity-commitment-from-breakthrough-energy-catalyst-for-investment-in-project-roadrunner","status":"publish","type":"post","link":"https:\/\/renewable-carbon.eu\/news\/efuels-leader-infinium-receives-75m-equity-commitment-from-breakthrough-energy-catalyst-for-investment-in-project-roadrunner\/","title":{"rendered":"eFuels Leader Infinium Receives $75M Equity Commitment from Breakthrough Energy Catalyst for Investment in Project Roadrunner"},"content":{"rendered":"\n\n\n

Infinium\u00a0and Breakthrough Energy Catalyst today announced a\u00a0$75 million\u00a0project equity investment commitment to support Infinium\u2019s Project Roadrunner, subject to the satisfaction of certain closing conditions. Project Roadrunner will convert waste carbon dioxide (CO2) and renewable power into sustainable aviation fuel (SAF) and other low-carbon fuels. This first-of-a-kind commercial-scale Power-to-Liquids (PtL) eFuels facility is expected to be the largest PtL eFuels project in\u00a0North America\u00a0once operational. Breakthrough Energy Catalyst funds and invests in first-of-a-kind projects that support the deployment of emerging climate technologies to reduce emissions and accelerate the clean energy transition. This commitment represents Catalyst\u2019s first equity investment to date.<\/strong><\/p>\n\n\n\n

Project Roadrunner, located in West Texas, will convert an existing brownfield gas-to-liquids project into a fully integrated eFuels facility that will deliver products into both U.S. and international markets. It will primarily produce Infinium eSAF, a sustainable aviation fuel with the potential to significantly reduce the lifecycle greenhouse gas emissions (GHG) associated with air travel. PtL SAF is expected to reduce lifecycle GHG emissions in aviation by around 90 percent, which is higher than the emissions reductions achieved using SAF on the market today. Project Roadrunner will also produce Infinium eNaphtha for use in plastics manufacturing and Infinium eDiesel for use in hard-to-electrify transportation methods, such as long-haul trucking and maritime applications.<\/p>\n\n\n\n

In tandem with Catalyst\u2019s investment in Infinium, American Airlines and Infinium have entered into an innovative, firm offtake agreement for Infinium eSAF. This agreement is a critical enabler of further investment in Project Roadrunner. American joined Breakthrough Energy Catalyst as an anchor partner to accelerate the development of next-generation clean energy technologies, including SAF. The Catalyst team worked to develop the agreement alongside the American and Infinium teams. The agreement provides one model for how airlines can use offtake agreements to help promising new SAF technologies attract investment dollars.<\/p>\n\n\n\n

In further support of this offtake agreement, Citi and American Airlines have separately agreed to transfer the associated emission reductions to Citi to support the scaling of this innovative technology and help reduce a portion of Citi\u2019s Scope 3 emissions from employee travel. Citi is also a partner of Breakthrough Energy Catalyst.<\/p>\n\n\n\n

Infinium has numerous eFuels projects in development across the U.S., Europe, Middle East, Japan and Australia.<\/p>\n\n\n\n

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\u201cThe investment from Catalyst is critical to accelerating the completion of Project Roadrunner and to the delivery of significant volumes of eFuels created from waste carbon dioxide and renewable power. Importantly, this project will serve as a template for other, larger eFuels plants under development,\u201d said\u00a0Robert Schuetzle, CEO at\u00a0Infinium<\/strong>. \u201cThe groundbreaking commercial agreement with American is an important prototype for the aviation industry as its firm offtake agreement supports project financing, providing revenue certainty for the project.\u201d<\/p>\n\n\n\n

\u201cThis project is a landmark achievement for the development of sustainable aviation fuels and the offtake agreement provides a model for the entire aviation industry of one way to effect change and support the scale-up of capital-intensive projects,\u201d said\u00a0Mario Fernandez, Head of Breakthrough Energy Catalyst<\/strong>. \u201cInfinium\u2019s technological and commercial maturity, coupled with the company\u2019s project development expertise, will help accelerate the clean energy transition by quickly bringing to market clean fuels for aviation, trucking, and other long-distance parts of the transportation sector. American\u2019s creativity, commitment and collaboration with Citi, have set a new marker, demonstrating what it takes to usher in a climate-friendly aviation future.\u201d<\/p>\n\n\n\n

\u201cAmerican joined Breakthrough Energy Catalyst because we saw the potential to accelerate the commercialization of the clean energy technologies of the future. Today, we see the realization of that potential in Catalyst\u2019s investment in Infinium\u2019s electrofuels SAF, coupled with American\u2019s long-term commitment to purchase those fuels,\u201d said\u00a0Jill Blickstein, American<\/strong>\u2019s Chief Sustainability Officer. \u201cOur partnership with Catalyst \u2013 and our new commitment with\u00a0Infinium\u00a0\u2013 exemplifies the novel collaboration necessary to bring to market the new technologies that will allow us to decarbonize.\u201d<\/p>\n\n\n\n

\u201cCiti is proud to work with Breakthrough Energy Catalyst,\u00a0American Airlines\u00a0and\u00a0Infinium\u00a0in this effort to support the commercialization of sustainable aviation fuel,” said\u00a0Val Smith, Citi’s Chief Sustainability Officer<\/strong>. “Infinium’s\u00a0eSAF technology is the latest example of innovation and growth in the climate solutions space. We hope the offtake arrangement with American, where we combine their direct use of SAF with our indirect use through our business travel, will serve as one model for how offtake agreements can be used to help scale up future solutions for low-emissions air travel.\u201d<\/p>\n<\/blockquote>\n\n\n\n

About\u00a0Infinium<\/strong><\/h3>\n\n\n\n

Infinium\u00a0is an electrofuels provider on a mission to decarbonize the world. Electrofuels are a new class of synthetic fuels made using renewable power and waste carbon dioxide, not petroleum or resources needed to produce food.\u00a0Infinium\u00a0electrofuels can be dropped into existing trucks, planes, and ships, significantly reducing harmful carbon dioxide emissions compared to fossil-based fuels. In addition to helping the transport industry meet carbon reduction goals,\u00a0Infinium\u00a0electrofuels are a lower carbon alternative for chemical processing, including plastics production. <\/p>\n\n\n\n

About Breakthrough Energy<\/strong><\/h3>\n\n\n\n

Breakthrough Energy is committed to accelerating the world\u2019s journey to a clean energy future. The organization funds breakthrough technologies, advocates for climate-smart policies, and mobilizes partners around the world to take effective action, accelerating progress at every stage.<\/p>\n\n\n\n

Breakthrough Energy Catalyst is a novel platform that funds and invests in first-of-a-kind commercial projects for emerging climate technologies. By investing in these opportunities, Catalyst seeks to accelerate the adoption of these technologies worldwide and reduce their costs.<\/p>\n\n\n\n

Catalyst currently focuses on five technology areas: clean hydrogen, sustainable aviation fuel, direct air capture, long-duration energy storage, and manufacturing decarbonization. In addition to capital, Catalyst leverages the team\u2019s energy-infrastructure-investing and project-development expertise to work with innovators on advancing their projects from the development stage to funding and ultimately, to construction. <\/p>\n\n\n\n

About\u00a0American Airlines<\/strong><\/h3>\n\n\n\n

To Care for People on Life\u2019s Journey\u00ae<\/sup>. Shares of\u00a0American Airlines Group Inc.\u00a0trade on Nasdaq under the ticker symbol AAL and the company\u2019s stock is included in the S&P 500. <\/p>\n\n\n\n

About Citi<\/strong><\/h3>\n\n\n\n

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of\u00a0the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.<\/p>\n","protected":false},"excerpt":{"rendered":"

Infinium\u00a0and Breakthrough Energy Catalyst today announced a\u00a0$75 million\u00a0project equity investment commitment to support Infinium\u2019s Project Roadrunner, subject to the satisfaction of certain closing conditions. Project Roadrunner will convert waste carbon dioxide (CO2) and renewable power into sustainable aviation fuel (SAF) and other low-carbon fuels. This first-of-a-kind commercial-scale Power-to-Liquids (PtL) eFuels facility is expected to be […]<\/p>\n","protected":false},"author":59,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","nova_meta_subtitle":" Investment will enable availability of SAF under innovative fuel offtake agreement with American Airlines, with financial support from Citi","footnotes":""},"categories":[5572,5571],"tags":[10744,12535,10416,15905,15311,15938,10743],"supplier":[11092,17430,18088],"class_list":["post-136393","post","type-post","status-publish","format-standard","hentry","category-bio-based","category-co2-based","tag-carboncapture","tag-catalysts","tag-circulareconomy","tag-efuels","tag-emissions","tag-powertox","tag-useco2","supplier-american-airlines","supplier-breakthrough-energy","supplier-infinium"],"_links":{"self":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/136393","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/comments?post=136393"}],"version-history":[{"count":0,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/136393\/revisions"}],"wp:attachment":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/media?parent=136393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/categories?post=136393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/tags?post=136393"},{"taxonomy":"supplier","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/supplier?post=136393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}