Korea's SK Group invests USD 20m in Fulcrum BioEnergy

The energy arm of South Korean conglomerate SK Group has completed a USD-20-million (EUR 19.9m) equity investment in US waste-to-fuel company Fulcrum BioEnergy Inc, the latter announced on Tuesday.

The Korean group invests in Fulcrum for the second time, having already participated in a USD-50-million equity round in December 2021.

SK Innovation, which runs South Korea's largest refinery along with petrochemical, e-mobility battery and information electronic materials businesses, has also entered into an exclusive licensing deal with the US company to explore the possibilities of introducing Fulcrum's patented waste-to-fuel process to South Korea and select countries in Asia.

Based in Pleasanton, California, Fulcrum is the developer of a process for transforming landfill waste into renewable, drop-in transportation fuels, including sustainable aviation fuel (SAF). The company commissioned and commenced the operation of its Sierra BioFuels Plant outside of Reno, Nevada, earlier this year. The site includes both a feedstock processing facility and a biorefinery with the capacity to convert some 175,000 tonnes of prepared landfill waste into roughly 11 million gallons of renewable syncrude annually for a subsequent upgrade to renewable transportation fuel.

The company also has plans for more such facilities across North America.

(USD 1 = EUR 0.996)

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