Infinium receives $75m investment; enters eSAF offtake agreement
Infinium announced that it has received $75m project equity investment from Breakthrough Energy Catalyst and entered into a firm offtake agreement with American Airlines for Sustainable Aviation Fuel (eSAF).
“The investment from 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,” said Robert Schuetzle, CEO at Infinium.
“The groundbreaking commercial agreement with American [Airlines] is an important prototype for the aviation industry as its firm offtake agreement supports project financing, providing revenue certainty for the project.”
Once operational, Infinium’s Roadrunner Project will convert waste carbon dioxide (CO2) and renewable power into sustainable aviation fuel (SAF) and other low-carbon fuels.
This Power-to-Liquids (PtL) eFuels facility is expected to be the largest PtL eFuels project in North America once operational. Located in West Texas, US the project will convert an existing brownfield gas-to-liquids project into a fully integrated eFuels facility to deliver biofuels to both U.S. and international markets.
Moreover, American Airlines joins Breakthrough Energy Catalyst as an anchor partner to accelerate the development of next-generation clean energy technologies, including SAF.
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.