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Today: May 22, 2024
January 17, 2024
1 min read

Revolutionizing Sustainable E-Fuels: INERATEC Raises $129 Million in VC Funding

TLDR:

The e-Fuel company INERATEC has raised over $129 million in its Series B funding round, led by Piva Capital. The funding will be used to scale up the production of sustainable e-Fuels and aims to transform 1GW of renewable energy into 125 million gallons of e-Fuel by 2030. There is a growing demand for ‘drop-in’ e-Fuels that can be seamlessly integrated into existing infrastructure, with this market expected to reach $13.6 trillion by 2050. INERATEC’s patented technology enables the production of ‘drop-in’ e-Fuels through the conversion of CO2 and hydrogen into synthesis gas and then into liquid and solid hydrocarbons. The company has built pilot plants and received awards for its innovation. The funding will facilitate the mass production of INERATEC’s Power-to-X plants globally and help expand its operations in Germany, the Netherlands, and Chile, leading to a 1,500-fold increase in production and the recycling of over 12 million metric tons of CO2 annually. The funding round includes investors such as Safran Corporate Ventures, Honda, and Samsung Ventures.

Key Points:

– INERATEC has secured $129 million in Series B funding, led by Piva Capital.
– The funding will be used to scale up production of sustainable e-Fuels.
– The goal is to transform 1GW of renewable energy into 125 million gallons of e-Fuel by 2030.
– There is a growing demand for ‘drop-in’ e-Fuels that can be seamlessly integrated into existing infrastructure.
– This market is expected to reach $13.6 trillion by 2050.
– INERATEC’s patented technology converts CO2 and hydrogen into synthesis gas and then into liquid and solid hydrocarbons.
– The company has built pilot plants and received awards for its innovation.
– The funding will facilitate mass production of INERATEC’s Power-to-X plants globally, including expansion in Germany, the Netherlands, and Chile.
– The expansion is expected to result in a 1,500-fold increase in production and the recycling of over 12 million metric tons of CO2 annually.
– Investors in the funding round include Safran Corporate Ventures, Honda, and Samsung Ventures.

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