Jan 27, 2021 17:46 JST

Source: Mitsubishi Heavy Industries, Ltd.

MHI Invests in Infinium, an Electrofuels Solution Provider, to Accelerate Efforts to Decarbonize the Transportation Sector

-- Additional investors include Amazon's Climate Pledge Fund, AP Ventures, Neuman & Esser Investments, and the Grantham Foundation --

TOKYO, Jan 27, 2021 - (JCN Newswire) - Infinium's proprietary technology enables the production of ElectrofuelsTM, a clean fuel allowing organizations to meet carbon reduction goals faster while accelerating the transition away from fossil fuels. Converting carbon dioxide and renewable power into net-zero carbon fuels, ElectrofuelsTM can be used in todays air, maritime, and surface transportation fleets.

MHI Group is committed to strengthening and diversifying its CO2 capture and utilization business this investment in Infinium helps ensure the energy transition's success toward carbon neutrality on a global scale. MHI joins a consortium of investors including Amazon's Climate Pledge Fund, AP Ventures, Neuman & Esser Investments, and the Grantham Foundation.

"These investments are critical to making continued progress toward global carbon neutrality goals," said Yoshihiro Shiraiwa, President and CEO, Mitsubishi Heavy Industries America. "We are proud to partner and collaborate with this group of industry leaders to build on the progress we have already made toward accelerating the energy transition."

Nearly a quarter of global carbon emissions stem from the transportation sector, posing a significant challenge in industry efforts to reduce emissions. New business mandates that include corporate climate commitments and ESG investing have increased the demand for low-carbon transportation alternatives. While technologies such as electrification, carbon offsets, carbon capture and hydrogen fuel cell technology are part of the solution, they do not fully address transportation's carbon reduction needs.

Infinium's ElectrofuelsTM are "drop-in" replacements for traditional petroleum-derived products. Infinium's fuels enable commercial transportation industry and logistics operators to make an immediate impact on carbon reduction targets without capital and time-intensive upgrades to transportation infrastructure.

"Backing from the largest hydrogen-focused venture capital firm in the world, AP Ventures, is a huge vote of confidence for the promise of electrofuels and our technology's ability to scale in order to meet todays urgent climate challenges," said Robert Schuetzle, Chief Executive Officer, Infinium. "We're thrilled to be working with Amazon and MHI to demonstrate the commercial impact of our technology as well as other investors in this round. We expect that current projects under development will be the first broad-scale utilization of electrofuels by commercial vehicles and we're working with MHI to bolster the company's hydrogen utilization and carbon capture efforts through the production of our ElectrofuelsTM."

Infinium is developing commercial applications of its technology with strategic partners to build ElectrofuelsTM production plants, focusing first in markets where low-cost renewable power generation coincide with large CO2 volumes.

About Infinium

Based in Sacramento, Infinium offers one of the only market-ready, renewables-based electrofuels solution that can decarbonize transportation at scale using todays infrastructure. Infinium's ElectrofuelsTM are a net-zero carbon alternative to existing liquid fuels that can immediately "drop in" and be used in plane, ship and truck fleets. For more information, visit www.infiniumco.com.

Source: Mitsubishi Heavy Industries, Ltd.
Sectors: Energy

Copyright ©2021 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

Related Press Release


MHI Machine Tool Develops Gear Shaping Machine for High-Precision Small-Module Gears Used in Robots
March 01 2021 17:36 JST
 
Turboden of Italy Receives First Order for Binary Cycle Power Generation Equipment for Natural Gas Pipeline GCS in Egypt
February 16 2021 14:08 JST
 
MHI Invests in C-Zero, a U.S. Hard Tech Startup, to Accelerate Efforts to Produce Clean Hydrogen from Natural Gas
February 10 2021 14:33 JST
 
MHI Thermal Systems Demonstrates the Potential to Remove and Inactivate the Novel Coronavirus (SARS-CoV-2) through Proprietary Air Purification Technology
February 10 2021 14:20 JST
 
Order Received for Philippines/29MW Binary Power Generation Project at EDC's Palayan Geothermal Power Plant
February 03 2021 10:47 JST
 
Operations Get Underway at MHI Vestas Japan Co., Ltd.
February 02 2021 10:54 JST
 
MHI-MS Names next-generation deck cranes "S Series"
January 27 2021 16:37 JST
 
MHIEC Receives Order from Kagoshima City to Refurbish Hokubu Waste-to-Energy Plant
January 26 2021 09:13 JST
 
Shell, Mitsubishi Heavy Industries, Vattenfall and Warme Hamburg sign Letter of Intent for 100MW Hydrogen Project in Hamburg
January 22 2021 21:23 JST
 
Low Carbon on Cement Possible with CCS
January 22 2021 08:04 JST
 
More Press release >>

Latest Press Release


More Latest Release >>