Marubeni takes a stake in Fulcrum BioEnergy
Japan-headed industry conglomerate Marubeni Corporation (Marubeni) has announced that it has invested an undisclosed amount in Fulcrum BioEnergy, Inc. (Fulcrum), a US-based company that, in conjunction with Japan Airlines Co., Ltd (JAL) and Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) develops and produces low-carbon jet fuel derived from municipal solid waste (MSW).
Fulcrum BioEnergy has developed and owns a proprietary process that produces low-carbon jet fuel, using municipal solid waste (MSW) as a feedstock and is developing and constructing several waste-to-fuel projects in the United States. Fulcrum is currently constructing its first commercial plant, Fulcrum Sierra BioFuels, outside of Reno, Nevada, which is on schedule to begin operation in 2020.
In order to achieve carbon-neutral growth, and to address any annual increase in total carbon dioxide (CO2) emissions from international civil aviation above the 2020 levels, the International Civil Aviation Organization (ICAO) has decided to implement a global market- based measure scheme in the form of the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).
In order to contribute the reduction of CO2 emission from the international aviation sector, Marubeni executed the Master Joint Development Agreement with Fulcrum such that Marubeni and Fulcrum will jointly develop Waste to Fuel projects around the world.
Beginning with this investment in Fulcrum, Marubeni says that it is committed to working towards developing new renewable energy and resource recovery businesses that will enable a circular economy.