Electrofuels provider Infinium has secured a $75 million equity commitment from Bill Gates’s Breakthrough Energy Catalyst to fund Project Roadrunner, a pioneering power-to-liquids (PtL) eFuels facility in West Texas.
This investment, subject to certain closing conditions, marks the first equity commitment of Breakthrough Energy Catalyst, an accelerator focused on emerging climate technologies that reduce emissions.
Project Roadrunner aims to convert waste carbon dioxide (CO2) and renewable power into sustainable aviation fuel (SAF) and other low-carbon fuels.
Expected to be North America’s largest PtL eFuels project upon completion, it will substantially reduce greenhouse gas emissions in aviation, with PtL SAF potentially achieving a 90% reduction in lifecycle emissions compared to current SAF in the market, according to Infinium.
Furthermore, Infinium announced a collaboration with American Airlines (Nasdaq: AAL), which involves a unique firm offtake agreement for Infinium eSAF.
This strategic partnership serves as a model for airlines leveraging offtake agreements to attract investment for innovative SAF technologies.
To bolster the offtake agreement, Citi (NYSE: C) and American Airlines will transfer associated emission reductions to Citi, contributing to the reduction of a portion of Citi’s Scope 3 emissions from employee travel.
Infinium’s CEO, Robert Schuetzle, emphasized the significance of Breakthrough Energy Catalyst’s investment in expediting Project Roadrunner’s completion and enabling the production of substantial eFuels volumes.
He underscored Project Roadrunner’s role as a blueprint for larger eFuels plants in development worldwide, and hailed the collaboration with American Airlines as a pioneering model in the aviation sector, offering revenue certainty for the project.
Infinium is actively pursuing eFuels projects globally, spanning the U.S., Europe, Middle East, Japan, and Australia, reinforcing its commitment to advancing sustainable solutions on a global scale.