Electrofuels provider Infinium completes Series C investment
US electrofuels provider Infinium on Thursday said it has closed the first tranche of a Series C Preferred Stock fundraise led by Brookfield Asset Management (NYSE:BAM, TSX:BAM), which in September 2024 committed to invest up to USD 1.1 billion (EUR 1.07bn) into the company.The round, whose size was not specified, attracted new investors Japan Hydrogen Fund, Development Bank of Japan, Japan Organisation for Metals & Energy Security (JOGMEC), Mitsubishi Corp, University of Michigan and RockCreek, and was supported by current investors Amazon, AP Ventures, Mitsubishi Heavy Industries, Neuman & Esser, SK and NextEra Energy Resources.Infinium said the funding will back the growth of its project pipeline and enable the expansion of market offerings. The company is described as the world’s first producer of commercially available ultra-low carbon eFuels. Its first commercial-scale project, called Pathfinder, is located in Texas. Infinium plans a second project, Roadrunner, also in Texas.Mitsubishi said separately its investment is aimed at expanding its understanding of eFuels, a new class of synthetic fuels based on green hydrogen and carbon dioxide, the demand for which is expected to increase in the future. Mitsubishi is also looking to participate in future projects to support the supply of eFuels into Japan.“Infinium eFuels allow our customers to use their existing infrastructure - planes, trucks, ships - while dramatically reducing greenhouse gas emissions in hard to abate categories,” said Infinium CEO Robert Schuetzle. “The continued confidence of our investors demonstrates the growing demand for sustainable energy solutions that give our customers flexibility to solve their greatest energy challenges.”Infinium simultaneously announced the acquisition of gas conversion firm Greyrock Technology.(USD 1 = EUR 0.971)
US electrofuels provider Infinium on Thursday said it has closed the first tranche of a Series C Preferred Stock fundraise led by Brookfield Asset Management (NYSE:BAM, TSX:BAM), which in September 2024 committed to invest up to USD 1.1 billion (EUR 1.07bn) into the company.
The round, whose size was not specified, attracted new investors Japan Hydrogen Fund, Development Bank of Japan, Japan Organisation for Metals & Energy Security (JOGMEC), Mitsubishi Corp, University of Michigan and RockCreek, and was supported by current investors Amazon, AP Ventures, Mitsubishi Heavy Industries, Neuman & Esser, SK and NextEra Energy Resources.
Infinium said the funding will back the growth of its project pipeline and enable the expansion of market offerings. The company is described as the world’s first producer of commercially available ultra-low carbon eFuels. Its first commercial-scale project, called Pathfinder, is located in Texas. Infinium plans a second project, Roadrunner, also in Texas.
Mitsubishi said separately its investment is aimed at expanding its understanding of eFuels, a new class of synthetic fuels based on green hydrogen and carbon dioxide, the demand for which is expected to increase in the future. Mitsubishi is also looking to participate in future projects to support the supply of eFuels into Japan.
“Infinium eFuels allow our customers to use their existing infrastructure - planes, trucks, ships - while dramatically reducing greenhouse gas emissions in hard to abate categories,” said Infinium CEO Robert Schuetzle. “The continued confidence of our investors demonstrates the growing demand for sustainable energy solutions that give our customers flexibility to solve their greatest energy challenges.”
Infinium simultaneously announced the acquisition of gas conversion firm Greyrock Technology.
(USD 1 = EUR 0.971)
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