Today: May 22, 2024
January 18, 2024
2 mins read

INERATEC Secures $129 Million Funding for Green Energy Revolution

TLDR: Sustainable e-Fuels Startup INERATEC Raises $129 Million

  • INERATEC has raised over $129 million in its Series B funding round to scale production of its sustainable e-fuels.
  • The company produces drop-in e-fuels, synthetic fuels that release no CO2 and can be used as alternatives to fossil fuels.
  • The funding comes as demand for drop-in e-fuels is expected to increase rapidly in industries such as aviation, shipping, road transport, and chemicals.
  • The capital will be used to start mass production of industrial-scale Power-to-X plants worldwide.
  • INERATEC’s largest plant in Frankfurt is under construction, and the company is expanding through projects in the Netherlands and Chile.

Clean fuels startup INERATEC has raised $129 million in its Series B funding round to scale up the production of its sustainable e-fuels. The company, which was founded in 2016 and is based in Karlsruhe, Germany, produces drop-in e-fuels and synthetic chemicals that replace fossil crude oil. Its modular chemical plants use hydrogen from renewable electricity and greenhouse gases such as CO2 to produce e-fuels and chemicals, including e-kerosene, CO2-neutral gasoline, clean diesel, and synthetic waxes. INERATEC aims to provide renewable alternatives to sectors such as aviation, shipping, road transport, and chemicals, which rely heavily on fossil fuels.

The funding round comes in response to the anticipated increase in demand for drop-in e-fuels in the coming years. INERATEC’s e-fuels are synthetic fuels that produce no CO2 emissions and can be used as direct replacements for fossil fuels. The company plans to use the new capital to begin mass production of its industrial-scale Power-to-X plants worldwide.

INERATEC has already started construction on its largest plant to date in Frankfurt and is expanding its operations through international projects in the Netherlands and Chile. The company expects this expansion to result in a 1,500-fold increase in production, recycling over 12 million metric tons of CO2 annually.

INERATEC CEO Tim Boeltken sees the funding round as a major milestone for the company and the energy sector as a whole. He believes that by scaling up e-fuels production, INERATEC can help to facilitate a transition from fossil fuels to sustainable alternatives. The company aims to transform 1 GW of renewable energy into 125 million gallons of sustainable e-fuel by 2030.

The funding round was led by San Francisco-based venture investor Piva Capital and included participation from other investors such as Planet A Ventures, Honda, and Samsung Ventures. Adzmel Adznan, Co-founding Partner at Piva Capital, praised INERATEC’s technology as a promising solution for decarbonizing hard-to-abate sectors such as aviation, shipping, and chemicals. He believes that the company’s reactors, which are more efficient and scalable, have the potential to transform waste CO2, green electrons, and hydrogen into fuels and chemicals that can meet various industrial needs.

Overall, INERATEC’s successful funding round reflects the growing demand for sustainable alternatives to fossil fuels in industries that are traditionally hard to decarbonize. The company’s focus on producing drop-in e-fuels that release no CO2 emissions positions it as a key player in the transition to a low-carbon economy. With the new capital, INERATEC is well-positioned to catalyze a paradigm shift in the energy sector and provide a viable alternative to fossil fuels.

Previous Story

Boucoup: Revitalizing Credit Union Finance with BankingON’s Series A Boost

Next Story

Summa Health Acquired: The Future of Nonprofit Ventures Unveiled

Latest from Blog

LabGenius Secures £35 Million in Series B Round

TLDR: LabGenius, a London-based drug discovery company, raised £35M in Series B funding led by M Ventures. The company plans to use the funds to further develop its machine learning-driven drug discovery
Go toTop