INERATEC Receives €70M Funding for Carbon-Neutral E-Fuel Plant in Frankfurt
Key Ideas
- INERATEC, a German company, secures a €70M funding package from the EIB and Breakthrough Energy Catalyst for a carbon-neutral e-fuel plant in Frankfurt, aiming to decarbonize aviation by producing sustainable e-fuels.
- The funding will support INERATEC's R&D efforts in Power-to-Liquid technology to create e-kerosene, CO2-neutral gasoline, clean diesel, synthetic waxes, methanol, and SNG using renewable hydrogen and CO2.
- E-fuels are crucial for hard-to-decarbonise sectors like aviation, aligning with EU regulations mandating a minimum of 1.2% synthetic fuel by 2030 and 35% by 2050, positioning INERATEC for growth in the market.
- The investment showcases confidence in INERATEC's technology and approach, emphasizing the significance of e-fuels in achieving a competitive net-zero economy and supporting the transition to sustainable alternatives to fossil fuels.
INERATEC, a company based in Karlsruhe, Germany, specializing in e-fuels production, has secured a substantial €70M funding package from the European Investment Bank (EIB) and Breakthrough Energy Catalyst as part of the EU Catalyst partnership. The EIB is providing venture debt, while Breakthrough Energy Catalyst has committed to a grant contingent on financing conditions. This funding is intended to support the establishment of a carbon-neutral e-fuel plant in Frankfurt, which is poised to be Europe's largest upon completion in 2025. INERATEC, recognized for its pioneering work in Power-to-Liquid technology, boasts modular plants that utilize renewable hydrogen and CO2 to produce various sustainable e-fuels and chemicals, catering to sectors like aviation. The company's Frankfurt plant aims to produce up to 2,500 tonnes of e-fuel and e-chemicals, including e-Sustainable Aviation Fuel (e-SAF), aligning with EU mandates for synthetic fuel usage. The investment signals confidence in INERATEC's technology, emphasizing the pivotal role of e-fuels in advancing towards a competitive net-zero economy and sustainable transportation solutions. The EU Catalyst partnership, focusing on technologies like clean hydrogen and sustainable aviation fuel, aims to accelerate the adoption of climate-friendly innovations and drive essential climate technologies in Europe.
Topics
Aviation
Renewable Energy
Innovation Funding
Sustainable Technology
Aviation Decarbonization
E-fuels Production
Venture Debt
EU Catalyst Partnership
Climate-friendly Policies
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