Infinium receives US$75 million equity commitment

This first-of-a-kind commercial-scale Power-to-Liquids (PtL) eFuels facility is expected to be the largest PtL eFuels project in North America once 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 Breakthrough Energy Catalyst’s first equity investment to date.

Project Roadrunner, located in West Texas, US, will convert an existing brownfield gas-to-liquids project into a fully integrated eFuels facility that will deliver products into both US and international markets. It will primarily produce Infinium eSAF, a SAF 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%, 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.

In tandem with Breakthrough Energy Catalyst’s 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 Breakthrough Energy 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.

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’s Scope 3 emissions from employee travel. Citi is also a partner of Breakthrough Energy Catalyst.

Infinium has numerous eFuels projects in development across the US, Europe, Middle East, Japan and Australia.

“The investment from Breakthrough Energy 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,” said Robert Schuetzle, CEO at Infinium. “The 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.”

Read the article online at: https://www.hydrocarbonengineering.com/clean-fuels/30112023/infinium-receives-us75-million-equity-commitment/