US-headed electro-fuels (e-fuel) solution developer Infinium Holdings, Inc (Infinium), has announced the close of a funding round bringing together a consortium of investors including Amazon’s Climate Pledge Fund, Mitsubishi Heavy Industries (MHI), AP Ventures, Neuman & Esser, and the Grantham Environmental Trust. The proceeds, the value of which has not been disclosed, will be used to advance the development of commercial-scale applications to decarbonize the transportation sector.
According to Infinium, its proprietary technology can enable organizations to meet carbon reduction goals by accelerating the transition away from fossil-based fuels through using net-zero carbon fuels that can be used today’s transportation fleets without changes in infrastructure.
Nearly a quarter of global carbon emissions stem from the transportation sector, posing a significant challenge in industry efforts to reduce emissions. New business mandates that include corporate climate commitments and ESG investing are increasing the demand for low-carbon transportation alternatives.
Other solutions, such as electrification, carbon offsets, carbon capture, and hydrogen fuel cell technology are part of the solution but do not fully address transportation’s carbon reduction needs the company says.
We’re thrilled to be working with Amazon and MHI to demonstrate the commercial impact of our technology. Backing from the largest hydrogen-focused venture capital firm, AP Ventures, as well as support from Neuman & Esser, an international compressor solutions provider with headquarters in Germany and the Grantham Environmental Trust, is a huge vote of confidence for the promise of electro-fuels and our technology’s ability to scale in order to meet today’s urgent climate challenges. We expect that current projects under development will be the first broad-scale utilization of electro-fuels by commercial vehicles, harmonizing hydrogen utilization and waste carbon capture, said Robert Schuetzle, CEO of Infinium.
Proprietary process technologies
The Infinium Electrofuels process uses renewable power to produce green hydrogen by electrolysis of water. This green hydrogen and waste carbon dioxide (CO2) is converted to syngas in the Infinium reactor using the proprietary “CO2Cat” catalyst. The syngas is fed through a proprietary synthesis step that directly produces high-value fuels
Amazon created The Climate Pledge Fund to support the development of technologies and services that will enable Amazon and other companies to reach the goals of the Paris Agreement 10 years early—achieving net-zero carbon by 2040. Infinium’s electro-fuels solution has real potential to help decarbonize transport that carries heavier loads and travels long distances, including air and freight, as well as heavy trucks, said Kara Hurst, VP of Worldwide Sustainability at Amazon.
Infinium’s Electrofuels are “drop-in” replacements for traditional petroleum-derived products. Infinium’s fuels enable the commercial transportation industry and logistics operators to make an immediate impact on carbon reduction targets without capital and time-intensive upgrades to transportation infrastructure.
In order to mitigate climate change and realize a sustainable future of clean energy, we need new technology solutions. Infinium’s market readiness and scalability make it stand out from other alternative fuel providers, said Andrew Hinkly, Managing Partner at AP Ventures, a UK-headed venture capital fund management company with a global mandate to invest in pioneering new technologies and businesses which aim to solve global challenges such as renewable energy integration, resource scarcity and rapidly changing demographics.
Infinium is developing commercial applications of its technology with strategic partners to build Electrofuels production plants, focusing first on markets where low-cost renewable power generation coincides with large CO2 volumes.
It is increasingly important to continue our efforts towards developing solutions that drive global carbon neutrality goals. We are confident in the progress we will make together with this group of industry leaders, said Yoshihiro Shiraiwa, CEO, Mitsubishi Heavy Industries America.