{"id":11512,"date":"2022-10-12T06:00:35","date_gmt":"2022-10-11T21:00:35","guid":{"rendered":"https:\/\/askinno.com\/global\/?p=11512"},"modified":"2024-10-31T17:54:11","modified_gmt":"2024-10-31T08:54:11","slug":"sk-trading-international-announces-new-funding-into-electrofuels-innovator-infinium","status":"publish","type":"post","link":"https:\/\/askinno.com\/global\/archives\/11512","title":{"rendered":"SK Trading International announces new funding into electrofuels innovator Infinium"},"content":{"rendered":"

SK Trading International (SKTI), a wholly owned subsidiary of SK Innovation, announced today it has closed a round of institutional funding into Infinium, a clean fuels innovator.<\/span><\/p>\n

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Incorporated in Sacramento, California in 2020, Infinium possesses liquid fuel synthesis technology and develops a production technology that synthesizes hydrogen and carbon dioxide into ultra-low carbon transportation fuels. Using catalyst technology developed over the last 15 years, Infinium\u2019s speed of commercialization is the fastest in this industry and it plans to continuously increase its scale with the first commercial production in Texas, USA next year.<\/span><\/p>\n

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Electrofuel (e-fuel) uses green electricity to separate water into hydrogen and oxygen, and combines and processes this hydrogen with carbon dioxide to produce gasoline, diesel, and aviation fuel. Creating e-fuel through an industrial process or by capturing carbon dioxide from the atmosphere has the effect of reducing carbon and obtaining fuel, and this technology is considered to be a core technology for next generation carbon reduction. In particular, e-fuel is gaining traction as a sustainable aviation fuel that can replace a hard-to-replace petroleum-based liquid fuel used in the aviation transport industry. Among the next generation aviation fuels, the currently-commercialized bio-fuel has some limitations in the supply and demand of raw materials. However, e-fuel, which uses water and carbon dioxide as raw materials, has no such limitations in the supply and demand of raw materials. The European Union plans to make the use of e-fuel compulsory, starting at 0.7% in 2030 and increasing it to 28% by 2050. The industry predicts that the e-fuel market size would increase from 130,000 barrels per day in 2030 to 2 million barrels per day in 2050.<\/span><\/p>\n

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As such, when producing e-fuel using Infinium\u2019s technology, carbon dioxide emission is significantly captured and reduced on e-fuel-based fuels in comparison to that of petroleum-based fuels.<\/span><\/p>\n

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SKTI\u2019s investment in Infinium is a significant step toward the implementation of SK Innovation\u2019s \u201cCarbon to Green Strategy,\u201d announced last year, and is the first investment in the next-generation green energy field. SKTI, as the only petroleum product trading company in Korea, plans to support the acceleration of e-fuel. <\/span><\/p>\n

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\u201cSKTI is excited about the opportunity to expand green energy supply opportunities globally through its investment in Infinium to achieve net zero activities. With this investment, we aim to support the acceleration of Infinium e-fuel adoption globally.\u201d said Suh Sok-won, CEO of SKTI.<\/span><\/p>\n

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\u201cWe welcome SK to our portfolio of investors and appreciate the confidence they have placed in us as we ramp production of Infinium e-fuel for global markets.\u201d noted Infinium CEO Robert Schuetzle.<\/span><\/p>\n

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About Infinium <\/strong>
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\nInfinium is a clean fuels innovator with a mission to decarbonize the world. Infinium’s proprietary ultra-low carbon Electrofuels are a drop-in fuel alternative for trucks, planes and ships and are designed to reduce harmful carbon dioxide emissions by upwards of 100% over petroleum fuels. Electrofuels can also be used as a clean alternative in chemical manufacturing processes like plastics production that typically use traditional petroleum-based fuels. Infinium\u2019s proprietary production process follows environmentally responsible protocols, leveraging industrial carbon dioxide waste, renewable power and \u2018green\u2019 hydrogen. <\/span>www.infiniumco.com<\/a><\/strong><\/span><\/span><\/div>\n<\/div>\n<\/div>\n

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[Photo]<\/strong><\/span><\/p>\n

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On September 30 (KST), at SK Seorin Building in Seoul, Suh Sok-won, CEO of SKTI, Roh Sang-goo, Head of SK Energy’s Strategy Operation Division, and Robert Schuetzle, CEO of Infinium (on the TV screen), take a commemorative photo at the online signing ceremony for the joint venture.<\/span><\/p>\n

 
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SK Trading International (SKTI), a wholly owned subsidiary of SK Innovation, announced today it has closed a round of institutional funding into Infinium, a clean fuels innovator.   Incorporated in Sacramento, California in 2020, Infinium possesses liquid fuel synthesis technology and develops a production technology that synthesizes hydrogen and carbon dioxide into ultra-low carbon transportation … Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":11520,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,4,8,644],"tags":[1232,1233,184,435,95],"class_list":["post-11512","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporates","category-press-room","category-press-release","category-sk-on","tag-electrofuel","tag-infinium","tag-investment","tag-net-zero","tag-skti"],"acf":[],"_links":{"self":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts\/11512","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/comments?post=11512"}],"version-history":[{"count":9,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts\/11512\/revisions"}],"predecessor-version":[{"id":14956,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts\/11512\/revisions\/14956"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/media\/11520"}],"wp:attachment":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/media?parent=11512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/categories?post=11512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/tags?post=11512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}