Brookfield invests $1.1B in Infinium for eFuels growth
Brookfield invests $1.1B in Infinium for eFuels growth
Brookfield Asset Management has announced a major partnership with Infinium, a supplier of low-carbon electronic fuels (eFuels). Under this strategic partnership, Brookfield will invest $1.1 billion to accelerate Infinium's eFuels platform and produce sustainable synthetic aviation fuel (eSAF). This is Brookfield's first investment in sustainable jet fuel, and comes from the $15 billion focused Brookfield Global Transition Fund (BGTF I). Founded in 2020 and based in California, Infinium specializes in the production of synthetic fuels including eSAF, eDiesel and eNaphtha using renewable energy and waste carbon. This approach avoids dependence on fossil fuels and raw materials that compete with food resources. Infinium's eSAF is notable for its ability to reduce greenhouse gas emissions by up to 90 percent compared to traditional fuels, without the need to modify existing engines and structures. The company has more than a dozen projects worldwide, including "Project Roadrunner" in West Texas. The project aims to convert the gas-to-water plant into a production site for fossil fuels. The facility uses CO2 emissions from local operations to produce eSAF and small volumes of eDiesel and eNafta. Infinium previously received $75 million in funding from Breakthrough Energy Catalyst for the project. Infinium's first eFuels facility, Project Pathfinder, will begin operation in 2023 and will deliver eFuels to help Amazon phase out its heavy-duty vehicles. Robert Schuetzel, CEO of Infinium, expressed enthusiasm for the partnership and praised Brookfield's role in helping the eSAF build meet the growing demand from the aerospace industry.
The investment will support Project Roadrunner and several eFuels projects around the world. Brookfield will commit more than $200 million to Infinium and Project Roadrunner, with an additional $850 million earmarked for future eFuels projects. Jehangir Vevaina, Brookfield's managing partner, said the investment was designed to provide Infinium with the capital needed to scale up eSAF production while providing an attractive return for Brookfield. He emphasized Brookfield's willingness to participate in the development of energy projects to meet market needs and support sustainability goals.