from SNL Energy Finance Daily
NextEra, Amazon invest in electrofuels producer Infinium
Byline: Selene Balasta
A NextEra Energy Resources LLC subsidiary and Amazon.com Inc.'s climate pledge fund have led a financing round resulting in $69 million of additional funds for electrofuels producer Infinium.
Proceeds will be used to develop large-scale plants that can produce nearly 40 million gallons of electrofuels yearly for the commercial transport sector, according to an Oct. 27 company news release.
Infinium's technology converts renewable power into green hydrogen. The green hydrogen and waste carbon dioxide will then be used to produce "ultra-low carbon fuels" that can replace jet fuel and diesel used by planes, ships and truck fleets, without changing the infrastructure or engine design.
AP Ventures LLP, 8090 Partners, LLC, Mitsubishi Heavy Industries Ltd. and Pavilion Capital have all invested in the funding round.