Amazon Invests In Electrofuels Company Infinium
Infinium, an electrofuels solution provider, 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 will be used to advance the development of commercial scale applications to decarbonize the transportation sector.
The funding round was led by AP Ventures, a leader in venture capital related to the hydrogen economy. Infinium Electrofuels have the potential to help investor Amazon and other companies to decarbonize their operations and meet their net-zero carbon goals.
Infinium’s proprietary Electrofuels process converts renewable power into green hydrogen, then uses this green hydrogen and waste carbon dioxide to produce net-zero carbon fuels. These fuels may be used in today’s plane, ship and truck fleets without changes in infrastructure.
Infinium’s “drop-in” fuels enable commercial transportation industry and logistics operators to make an immediate impact on carbon reduction targets without capital and time intensive upgrades to transportation infrastructure.
“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 electrofuels 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 electrofuels by commercial vehicles, harmonizing hydrogen utilization and waste carbon capture.”-Robert Schuetzle, CEO of Infinium.