Published by Todd Bush on April 16, 2024
Long-term agreement represents a new model for delivering decarbonization benefits across heavy transport and chemical industries
SACRAMENTO, Calif., April 16, 2024 /PRNewswire/ -- eFuels leader, Infinium, has reached an agreement with a subsidiary of midstream energy company Kinetik Holdings Inc. (NYSE: KNTK) ("Kinetik") to purchase carbon dioxide ("CO2") captured from Kinetik's gas gathering and processing system in the Permian Basin for use as a feedstock in the production of ultra-low carbon electrofuels ("eFuels"). Infinium eFuels are created through a proprietary process using waste CO2 and green hydrogen derived from renewable power.
>> In Other News: The Carbon to Value Initiative Announces Year 4 of the Initiative's Carbontech Accelerator Program
The agreement is unique in its long-term nature and broad decarbonization benefits, providing measurable impacts for transportation alternatives. It provides a model for the industry to rethink how to contract waste streams such as CO2 for use in solutions that provide beneficial reuse of emissions.
"There are many roles to be played in the energy transition, and this partnership shows that eFuels production and utilization is truly a win-win for all in the energy industry," said Infinium CEO Robert Schuetzle. "It's great to welcome Kinetik into our community of companies seeking beneficial reuse solutions for its CO2. The agreement demonstrates major progress and shows Kinetik's leadership relative to the existing traditional oil and gas sector's carbon emissions strategies."
Under the terms of the agreement, a subsidiary of Kinetik will dedicate CO2 from one of its amine gas processing facilities in West Texas to Infinium for use at its previously announced second eFuels project called Project Roadrunner. Project Roadrunner will deliver products into both U.S. and international markets. It will primarily produce Infinium eSAF, a sustainable aviation fuel with the potential to significantly reduce the lifecycle greenhouse gas emissions ("GHG") associated with air transportation.
"Our partnership with Infinium reinforces Kinetik's commitment to sustainability and our role as an agent for change. As the first step of Kinetik's New Energy Ventures, I am excited to announce our participation in Project Roadrunner and strongly support Infinium's mission to significantly reduce carbon emissions. Kinetik remains committed to further decarbonize our footprint and advance new low carbon technologies as part of our strategy of 'energy for change,'" said Jamie Welch, Kinetik's President and CEO.
Infinium previously announced a $75 million equity commitment from Breakthrough Energy Catalyst for investment in Project Roadrunner, the first for the novel Bill Gates-founded platform that funds and invests in first-of-a-kind commercial projects for emerging climate technologies. American Airlines is the first announced offtake partner for eSAF produced at Project Roadrunner with emission reductions going to Citi, further modeling how long-term, innovative agreements contribute to decarbonization across multiple industries' value chains.
Infinium operates the world's first commercial scale eFuels facility in Corpus Christi, Texas and has more than a dozen projects in various stages of development globally.
Infinium is an electrofuels provider on a mission to decarbonize the world. Electrofuels are a new class of synthetic fuels made using renewable power and waste carbon dioxide, not petroleum or resources needed to produce food. Infinium electrofuels can be dropped into existing trucks, planes, and ships, significantly reducing harmful carbon dioxide emissions compared to fossil-based fuels. In addition to helping the transport industry meet carbon reduction goals, Infinium electrofuels are a lower carbon alternative for chemical processing, including plastics production. Learn why Amazon and other leading cleantech investors have chosen Infinium at www.infiniumco.com.
About Kinetik Holdings Inc.Kinetik is a fully integrated, pure-play, Permian-to-Gulf Coast midstream C-corporation operating in the Delaware Basin. Kinetik is headquartered in Midland, Texas and has a significant presence in Houston, Texas. Kinetik provides comprehensive gathering, transportation, compression, processing and treating services for companies that produce natural gas, natural gas liquids, crude oil and water. Kinetik posts announcements, operational updates, investor information and press releases on its website, www.kinetik.com.
SOURCE Infinium
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside this Issue 💰 FuelCell Energy Announces Debt Financing for Derby Power Projects ⚛️ Plug Power's Expansion Accelerates Green Hydrogen Economy 📝 Zefiro Registers its First Methane Reduction Pr...
Inside this Issue 🏭 Nel ASA: Hy Stor Energy Places Gigawatt Capacity Reservation for Mississippi Clean Hydrogen Hub 🛺 Gearing Up for a Green Highway: Air Products Paves the Way for Hydrogen Transp...
Inside this Issue ⚛️ Air Products Announces Plans to Build Network of Commercial-Scale Multi-Modal Hydrogen Refueling Stations Connecting Edmonton and Calgary, Alberta, Canada 🤝 RepAir and Cella L...
Vortex Energy’s Collaboration with the University of Alberta Receives Alberta Innovates Funding
**The University of Alberta will receive a total of $1.2 million from the Government of Alberta, through Alberta Innovates, for the project titled “Field Trial of Hydrogen Storage in Canadian Domal...
FuelCell Energy Announces Debt Financing for Derby Power Projects
Continuing Strong Support for FuelCell Energy Platforms _**Total of $13 Million in Senior and Subordinated Credit Facilities**_ DANBURY, Conn., April 29, 2024 (GLOBE NEWSWIRE) -**\-** [**Fuel...
**Projects in Varennes and Montreal partly funded by the Government of Quebec to increase speed to market to meet accelerating global energy transition demand ---- Establishment of a state-of-the-a...
* **Upgrades add 320 megawatts of capacity to the company's largest "battery"** * **Bad Creek pumped storage technology supports the operational needs of Duke Energy's system, particular...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.