US electrofuels provider Infinium has secured financing from Bill Gates’ Breakthrough Energy and has attracted American Airlines (NASDAQ:AAL) as an offtaker for the company’s planned facility for sustainable aviation fuel (SAF) and other low-carbon fuels production in Texas.
Breakthrough Energy Catalyst has committed to providing USD 75 million (EUR 68.2m) to advance Infinium’s project. The commitment represents the first equity investment to date for Breakthrough Energy’s novel platform focused on first-of-a-kind commercial projects for emerging climate technologies.
The capital will be directed to Project Roadrunner, a commercial-scale power-to-liquids (PtL) eFuels facility that will convert waste carbon dioxide (CO2) and renewable power into SAF and other low-emission fuels for both US and international markets.
Project Roadrunner, located in West Texas, is expected to be the largest PtL eFuels project in North America once operational which is expected in 2026. It will primarily produce eSAF as well as smaller volumes of eNaphtha for use in plastics manufacturing and eDiesel for use in hard-to-electrify transportation, such as long-haul trucking and maritime applications.
The project is realised at an existing gas-to-liquid facility which is being upgraded to run on waste CO2 and green hydrogen using additional renewable power assets that are being built especially for the plant.
As for the offtake agreement with American Airlines, it has financial support from Citi. In addition, Citi and American have separately agreed to transfer the associated emission reductions to Citi to support the scaling of this technology and help reduce a portion of the lender’s emissions from employee travel, according to the press release.
Launched in 2020, Infinium has various eFuels projects in development across the US, Europe, the Middle East, Japan and Australia. The company counts among its backers US e-commerce giant Amazon.com Inc’s Climate Pledge Fund, NextEra Energy Resources LLC and Mitsubishi Heavy Industries (MHI).
(USD 1 = EUR 0.910)