Germany-based company a pioneer in e-Fuel INERATEC raised more than USD 129 million in its Series B funding. The round took place on January 16, 2023. Piva Capital led the financing for the company. Meanwhile, HG Ventures, TDK Ventures, Copec WIND Ventures, RockCreek, Emerald, and Samsung Ventures also joined in the financing. Besides, current investors, global corporates such as ENGIE New Ventures, Safran Corporate Ventures and Honda provided the investment.
Purpose of financing for INERATEC
With the latest capital, the company plans to begin the mass production of INERATEC’s industrial-scale Power-to-X plants worldwide. It also plans to further advance the production of e-fuels made from recycled CO2 and renewable energy. Additionally, INERATEC is constructing its largest plant in Frankfurt. Meanwhile, the company is expanding through international projects in the Netherlands as well as Chile.
The expansion will yield a 1,500 x increase in production, recycling more than 12,000,000 metric tons of CO2 annually. In addition, the technology will be implemented globally – wherever CO2 and renewable energy are available.
What the company’s official has to add
Tim Boeltken, CEO of INERATEC, 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.”
What the investors have to comment
Adzmel Adznan, Co-founding Partner at Piva Capital, further added, “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 the 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.”
About INERATEC
INERATEC is a pioneer in the field of Power-to-Liquid applications. The company is a supplier of sustainable e-fuels as well as chemical products. Modular chemical plants for Power-to-X and gas-to-liquid applications leverage hydrogen from renewable electricity and greenhouse gases such as CO2 to produce e-kerosene, CO2-neutral gasoline, clean diesel or synthetic waxes, methanol or SNG.
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