Ineratec Secures Major Funding to Develop Europe's Largest Green Hydrogen-based E-fuels Plant
Key Ideas
- Ineratec secures a €40m venture debt loan with the European Investment Bank and a €30m grant with Breakthrough Energy Catalyst to develop Europe's largest green hydrogen-based e-fuels plant in Frankfurt.
- The plant aims to produce up to 2,500 tonnes of e-fuel per year by combining hydrogen and CO2 from biogenic sources to create synthetic crude oil for sustainable aviation fuels, marine fuels, and e-diesel.
- Carbon will be sourced from Infraserv Höchst's biogas plant, with a focus on scaling up and deploying the technology to support the decarbonization of the aviation industry.
- The initiative aligns with the REFuelEU Aviation policy, which mandates the integration of at least 1.2% e-SAF in airlines' fuel mix by 2030, showcasing a positive step towards sustainability.
Ineratec has secured significant funding to establish Europe's largest green hydrogen-based e-fuels plant in Frankfurt, Germany. The company received a €40m venture debt loan from the European Investment Bank and a €30m grant from Breakthrough Energy Catalyst. The plant, scheduled for commissioning in 2024, plans to produce 2,500 tonnes of e-fuel annually. Ineratec's innovative production process combines hydrogen and biogenic CO2 to generate synthetic crude oil, convertible into sustainable aviation fuels, marine fuels, and e-diesel.
Utilizing carbon from Infraserv Höchst's biogas plant, Ineratec aims to scale up its technology deployment to meet the aviation industry's decarbonization needs. The CEO highlighted the importance of deploying the technology where it is most needed. This initiative aligns with the REFuelEU Aviation policy, requiring airlines to include a minimum of 1.2% e-SAF in their fuel mixture by 2030, emphasizing a commitment to sustainability in the aviation sector. Overall, the project signifies a positive step towards green energy production and compliance with European regulations.