Sustainable Aviation Gas Offtake – Infinium receives $75M fairness dedication from breakthrough vitality catalyst for funding in challenge roadrunner.
Infinium and Breakthrough Vitality Catalyst introduced a $75 million challenge fairness funding dedication to assist Infinium’s Venture Roadrunner, topic to the satisfaction of sure closing circumstances. Venture Roadrunner will convert waste carbon dioxide (CO2) and renewable energy into sustainable aviation gasoline (SAF) and different low-carbon fuels.
This primary-of-a-kind commercial-scale Energy-to-Liquids (PtL) eFuels facility is anticipated to be the most important PtL eFuels challenge in North America as soon as operational. Breakthrough Vitality Catalyst funds and invests in first-of-a-kind tasks that assist the deployment of rising local weather applied sciences to cut back emissions and speed up the clear vitality transition. This dedication represents Catalyst’s first fairness funding so far.
Venture Roadrunner, positioned in West Texas, will convert an present brownfield gas-to-liquids challenge into a totally built-in eFuels facility that may ship merchandise into each U.S. and worldwide markets. It would primarily produce Infinium eSAF, a sustainable aviation gasoline with the potential to considerably cut back the lifecycle greenhouse fuel emissions (GHG) related to air journey.
PtL SAF is anticipated to cut back lifecycle GHG emissions in aviation by round 90 %, which is increased than the emissions reductions achieved utilizing SAF in the marketplace in the present day. Venture Roadrunner will even produce Infinium eNaphtha to be used in plastics manufacturing and Infinium eDiesel to be used in hard-to-electrify transportation strategies, akin to long-haul trucking and maritime functions.
In tandem with Catalyst’s funding in Infinium, American Airways and Infinium have entered into an progressive, agency offtake settlement for Infinium eSAF. This settlement is a important enabler of additional funding in Venture Roadrunner. American joined Breakthrough Vitality Catalyst as an anchor associate to speed up the event of next-generation clear vitality applied sciences, together with SAF.
The Catalyst workforce labored to develop the settlement alongside the American and Infinium groups. The settlement offers one mannequin for the way airways can use offtake agreements to assist promising new SAF applied sciences appeal to funding {dollars}.
In additional assist of this offtake settlement, Citi and American Airways have individually agreed to switch the related emission reductions to Citi to assist the scaling of this progressive know-how and assist cut back a portion of Citi’s Scope 3 emissions from worker journey.
Citi can also be a associate of Breakthrough Vitality Catalyst.
Infinium has quite a few eFuels tasks in improvement throughout the U.S., Europe, Center East, Japan and Australia
Robert Schuetzle, CEO at Infinium mentioned:
The funding from Catalyst is important to accelerating the completion of Venture Roadrunner and to the supply of serious volumes of eFuels created from waste carbon dioxide and renewable energy.
“Importantly, this challenge will function a template for different, bigger eFuels crops beneath improvement.”
“The groundbreaking industrial settlement with American is a vital prototype for the aviation business as its agency offtake settlement helps challenge financing, offering income certainty for the challenge.”
Mario Fernandez, Head of Breakthrough Vitality Catalyst mentioned:
This challenge is a landmark achievement for the event of sustainable aviation fuels and the offtake settlement offers a mannequin for the complete aviation business of 1 approach to impact change and assist the scale-up of capital-intensive tasks.
“Infinium’s technological and industrial maturity, coupled with the corporate’s challenge improvement experience, will assist speed up the clear vitality transition by rapidly bringing to market clear fuels for aviation, trucking, and different long-distance components of the transportation sector. American’s creativity, dedication and collaboration with Citi, have set a brand new marker, demonstrating what it takes to usher in a climate-friendly aviation future.”
Jill Blickstein, American’s Chief Sustainability Officer mentioned:
American joined Breakthrough Vitality Catalyst as a result of we noticed the potential to speed up the commercialization of the clear vitality applied sciences of the long run.
“At the moment, we see the conclusion of that potential in Catalyst’s funding in Infinium’s electrofuels SAF, coupled with American’s long-term dedication to buy these fuels.”
“Our partnership with Catalyst – and our new dedication with Infinium – exemplifies the novel collaboration essential to deliver to market the brand new applied sciences that may permit us to decarbonize.”
Val Smith, Citi’s Chief Sustainability Officer mentioned:
Citi is proud to work with Breakthrough Vitality Catalyst, American Airways and Infinium on this effort to assist the commercialization of sustainable aviation gasoline.
“Infinium’s eSAF know-how is the newest instance of innovation and development within the local weather options house. We hope the offtake association with American, the place we mix their direct use of SAF with our oblique use by means of our enterprise journey, will function one mannequin for the way offtake agreements can be utilized to assist scale up future options for low-emissions air journey.”
About Infinium
Infinium is an electrofuels supplier on a mission to decarbonize the world. Electrofuels are a brand new class of artificial fuels made utilizing renewable energy and waste carbon dioxide, not petroleum or assets wanted to provide meals. Infinium electrofuels might be dropped into present vans, planes, and ships, considerably lowering dangerous carbon dioxide emissions in comparison with fossil-based fuels.
Along with serving to the transport business meet carbon discount objectives, Infinium electrofuels are a decrease carbon different for chemical processing, together with plastics manufacturing. Be taught why Amazon and different main cleantech traders have chosen Infinium at www.infiniumco.com.
About Breakthrough Vitality
Breakthrough Vitality is dedicated to accelerating the world’s journey to a clear vitality future. The group funds breakthrough applied sciences, advocates for climate-smart insurance policies, and mobilizes companions all over the world to take efficient motion, accelerating progress at each stage.
Breakthrough Vitality Catalyst is a novel platform that funds and invests in first-of-a-kind industrial tasks for rising local weather applied sciences. By investing in these alternatives, Catalyst seeks to speed up the adoption of those applied sciences worldwide and cut back their prices.
Catalyst at present focuses on 5 know-how areas: clear hydrogen, sustainable aviation gasoline, direct air seize, long-duration vitality storage, and manufacturing decarbonization.
Along with capital, Catalyst leverages the workforce’s energy-infrastructure-investing and project-development experience to work with innovators on advancing their tasks from the event stage to funding and finally, to building. Be taught extra about Breakthrough Vitality and Catalyst at breakthroughenergy.org.
About American Airways
To Look after Folks on Life’s Journey®. Shares of American Airways Group Inc. commerce on Nasdaq beneath the ticker image AAL and the corporate’s inventory is included within the S&P 500. Be taught extra about what’s occurring at American by visiting information.aa.com and join with American @AmericanAir and at Fb.com/AmericanAirlines.
About Citi
Citi is a preeminent banking associate for establishments with cross-border wants, a world chief in wealth administration and a valued private financial institution in its house market of america.
Citi does enterprise in almost 160 nations and jurisdictions, offering firms, governments, traders, establishments and people with a broad vary of economic services and products. Further info could also be discovered at www.citigroup.com.
Infinium Receives $75M Fairness Dedication from Breakthrough Vitality Catalyst for Funding in Venture Roadrunner, November 29, 2023
