Brookfield agrees to pour USD 1.1bn into Infinium's eFuels platform

Brookfield Asset Management (NYSE:BAM, TSX:BAM) has agreed on its first direct foray into sustainable aviation fuel (SAF) by committing to invest up to USD 1.1 billion (EUR 997m) into Infinium to advance the US electrofuels provider’s platform.

The Canadian investor has committed to investing more than USD 200 million in Infinium and its Project Roadrunner, which is under development in West Texas, as well as up to USD 850 million to support the deployment of other Infinium eFuels projects across the world, all subject to pre-agreed metrics.

Project Roadrunner is a commercial-scale power-to-liquids (PtL) eFuels facility that will serve both the US and international markets. Apart from SAF, it will also produce eNaphtha, which can be used in plastics manufacturing, and eDiesel, which can be used in long-haul trucking and maritime applications.

Brookfield's investment will be made through the Brookfield Global Transition Fund (BGTF I). In addition, the Canadian company will also serve as lead in Infinium's Series C Preferred Stock offering, a press statement said on Tuesday.

Set up in 2020, Infinium specialises in the production of newest generation SAF made through a proprietary process that combines water, waste carbon dioxide and renewable energy.

In November, the company announced that it had secured financing from Bill Gates’ Breakthrough Energy and attracted American Airlines as an offtaker. It counts among its other investors US e-commerce giant Amazon.com Inc's Climate Pledge Fund, NextEra Energy Resources LLC and Mitsubishi Heavy Industries (MHI).

(USD 1 = EUR 0.906)

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