Ineratec raises EUR 20m to scale up sustainable fuel production

January 21 (Renewables Now) – Germany-based Ineratec GmbH has raised EUR 20 million (USD 22.67m) in a Collection A financing spherical to fund the scale-up of its manufacturing capability for sustainable e-kerosene from carbon dioxide and inexperienced hydrogen and strengthen its place within the power-to-liquid sector.

The Karlsruhe-based firm wants recent capital to construct an industrial plant for the manufacturing of artificial fuels close to the Frankfurt airport in 2022. The manufacturing unit will produce as much as 4.6 million litres (1.2 million gallons) of e-fuels yearly from as much as 10,000 tons of biogenic carbon dioxide and renewable electrical energy, Ineratec mentioned on Thursday.

The enlargement follows the opening of a pilot plant for the manufacturing of e-kerosene within the Emsland area, Decrease-Saxony, final October. The 1-MW plant is powered with biogenic carbon dioxide and renewable hydrogen from the air and from a biogas plant close by and a part of its manufacturing of 350 tonnes is delivered to Lufthansa Cargo within the type of e-kerosene.

The fundraiser was backed by present buyers Excessive-Tech Gruenderfonds (HTGF), Extantia Capital, FO Holding and Planet A and attracted new buyers from the vitality and aviation business — French utility Engie SA (EPA:ENGI), aerospace elements producer Safran SA (EPA:SAF) and MPC.

For Engie, the funding is a step in direction of its aim of reaching 4 GW of inexperienced hydrogen capability by 2030 whereas for Safran, it underlines its try to make aviation carbon-neutral by 2050.

(EUR 1 = USD 1.134)

Source

Leave a Reply