Raw: [
Clean fuels startup INERATEC announced today that it has raised over $129 million in its […]]
Sustainable e-Fuels Startup INERATEC Raises $129 Million – ESG Today
ESG Investing, sustainable finance & business sustainability news
ESG investing news, analysis, research and information
Top Stories ESG News
Companies
Government
Investors
Regulators
Sustainable Finance
ESG Solutions ESG Tools, Services
Companies Companies
Investors Investors
ESG Disclosure ESG Reporting
Analysis
Regulators
Reports, Studies
Newsfeed
Whitepapers
Events
About About us
Our Team
Advertise With Us
Energy Transition/ Private Equity & Venture Capital
Sustainable e-Fuels Startup INERATEC Raises $129 Million
Susan Lahey
January 17, 2024
Clean fuels startup INERATEC announced today that it has raised over $129 million in its Series B funding round with proceeds to be used to scale production of the company’s sustainable e-fuels, aimed at decarbonizing hard-to-abate industries.
Founded in 2016, Karlsruhe, Germany-based INERATEC produces sustainable e-Fuels and synthetic chemicals to replace fossil crude oil. The company builds modular chemical plants for “Power-to-X” Power-to-X and gas-to-liquid applications, which use hydrogen from renewable electricity and greenhouse gases such as CO2 to produce fuels and chemicals including e-kerosene, CO2-neutral gasoline, clean diesel or synthetic waxes, methanol or SNG.
According to INERATEC, the financing comes as demand for drop-in e-Fuels is expected to increase rapidly over the next several years, as sectors that rely heavily on fossil fuels, such as aviation, shipping, road transport and chemicals, seek renewable alternatives to achieve their climate goals. INERATEC produces a drop-in e-Fuel, a synthetic fuel that releases no CO2, and can be used in place of fossil fuels.
The company said that the new capital will be used to start mass production of its industrial-scale Power-to-X plants worldwide. INERATEC has also begun construction of its largest plant to date in Frankfurt and is expanding through international projects in the Netherlands and Chile, with the expansion expected to yield a 1,500 x increase in production, recycling over 12,000,000 metric tons of CO2 annually.
INERATEC CEO Tim Boeltken said:
“This financing round is a major milestone for INERATEC as well as the transition from fossil fuels to sustainable e-Fuels. With the new capital, we are positioned to catalyze a paradigm shift in the energy sector. Our focus is to scale-up e-Fuels enabled by this new investment. By transforming 1GW of renewable energy into 125 million gallons of sustainable e-Fuel by 2030, we are taking solid steps in creating a viable alternative to fossil fuels.”
The round was led by San Francisco-based venture investor Piva Capital with participation from investors including Planet A Ventures, MPC, High-Tech Gründerfonds, FO Holding, Safran Corporate Ventures, Honda, ENGIE New Ventures, HG Ventures, TDK Ventures, Copec WIND Ventures, RockCreek, Emerald, and Samsung Ventures.
Adzmel Adznan, Co-founding Partner at Piva Capital said:
“INERATEC’s pioneering technology is the most promising e-Fuel solution we’ve seen to date in addressing the hardest-to-decarbonize sectors such as aviation, shipping, and chemicals. The company is doing more than just creating e-Fuels; their proprietary reactors are more efficient and scalable, re-imagining how industry can transform waste CO2, green electrons and hydrogen to meet various needs, from fuel to power cars, planes, and ships to green chemicals for our everyday consumptions. We believe that INERATEC has the winning solution to transform industries and help the world meet its collective goal to transition away from fossil fuels for energy.”
Susan Lahey
Susan Lahey started her career as a business reporter for The Kansas City Star and has worked as a freelancer covering business, investment, technology, sustainability and science for numerous publications. She has also worked as a writer and editor for publicly funded projects mandating environmental cleanup of a molybdenum mine in Northern New Mexico; and recovery and resiliency measures following Hurricane Maria in Puerto Rico. Recently she worked as Director of Communications for a European wave energy company.
Related Posts
Energy Transition /
Blue Earth Capital Raises $378 Million for Private Equity Climate Impact Strategy
Private Equity & Venture Capital /
Fast Charging EV Network Provider Electra Raises $330 Million
Energy Transition /
Clean Energy Tech Startup Aira Raises €145 Million to Accelerate Residential Heating Electrification
‹ Trafigura Signs Advance Carbon Credit Purchase Agreement with DAC Provider 1PointFive
ESG Today Newsletter – Subscribe
Subscribe to the ESG Today NewsletterJoin our mailing list for the latest breaking ESG investment news!
LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther
FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsR & DProcurement & ContractingSupply Chain & DistributionSustainabilityStrategyTechnologyOther
SUBSCRIBE!
You have Successfully Subscribed!
Sustainable Finance
Barclays Launches New Sustainable Banking Business
Northvolt Signs Record $5 Billion Green Loan to Scale Circular Gigafactory
Barclays Launches New Energy Transition-Focused Investment Banking Team
Iberdrola Secures €300 Million ESG-Linked Loan from World Bank for Energy Transition Projects in Emerging Markets
Government
Australia Proposes New Law Requiring Mandatory Climate Reporting for Companies
Former UK Conservative Energy Minister Resigns over Government Plan for New North Sea Oil & Gas Licenses
Canada Consults on Launch of New Federal Plastic Registry
Canada Finalizes Regulation Requiring 100% Zero Emission New Car Vehicle Sales by 2035
Categories
Select Category
Business Wire
ESG News
Analysis
Climate
Companies
Energy Transition
Environment
ESG Reporting
ESG Tools, Services
Executive Moves
Governance
Government
Guest Posts
Investors
M&A
New funds & products
Platforms & Markets
Private Equity & Venture Capital
Professional bodies
Regulators
Reports, Studies
Social
Social & Governance
Sustainable Finance
Welcome
Back to Top
Home
About us
Disclosure, cookies & privacy policy
© ESG Today 2024
Don’t miss the top ESG stories!Join the ESG Today daily newsletter and get all the top ESG stories, like this one.
Subscribe now below!
LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther
FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsProcurement & ContractingR & DStrategySupply Chain & DistributionSustainabilityTechnologyOther
SUBSCRIBE!
You have Successfully Subscribed!
Never miss the latest breaking ESG investment news. Get ESG Today’s newsletter today!
Subscribe Now
c
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.OkPrivacy policy