EIB, Breakthrough Energy invest $73m in Ineratec

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The European Investment Bank (EIB) and Breakthrough Energy Catalyst have announced an investment of €70m ($73m) into German e-fuel company Ineratec to support production of sustainable aviation fuel (eSAF).

The investment will be through a €40m venture-debt-loan, backed by the EU’s InvestEU-program, while Breakthrough Energy Catalyst is awarding a grant of €30m.

“E-fuels are a crucial part of achieving a competitive net-zero economy, particularly in the mobility and transport sector. Game-changing technologies like Ineratec’s play a vital role in this transition. Together with the European Commission and Breakthrough Energy, through the EIB’s venture debt product, we are supporting an innovative startup in scaling up production and advancing research to make e-fuels a viable, sustainable alternative to fossil fuels,” said EIB vice president Nicola Beer.

The package will support the financing of INERATEC’s carbon neutral e-fuel production plant in Frankfurt, as well as further research and development. The Frankfurt plant is set to be Europe’s largest when opening in 2025.

Ineratec’s Frankfurt plant will produce up to 2,500 tons of e-fuels and e-chemicals, including e-sustainable aviation fuel (e-SAF). The plant will also incorporate an upgrading facility, enabling the e-crude oil to be refined into certifiable, ready-to-use sustainable aviation fuel on site.

“INERATEC’S Frankfurt production plant will show that e-fuel production is no longer a technological concept but a scalable reality. Reliable production of certifiable e-SAF is possible in the near-term – at commercial scale, that will be a breakthrough for sustainable aviation. This investment from EIB and Breakthrough Energy Catalyst is a sign of confidence in the INERATEC technology and approach,” said Tim Boeltken, CEO, Ineratec.

The eSAF produced by Ineratec will support compliance with the EU’s SAF mandate.

Read more about Ineratec’s plans here.

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