German Clean Tech company INERATEC secures investment from Honda and existing shareholders to support further growth
January 25, 2023 (PRLEAP.COM) Business NewsBest-in-class technology to meet global ambitions for sustainable fuels
Germany, Karlsruhe 25. January 2023 – German Clean Tech company INERATEC, leader in the production of e-fuels, closes a new round with Honda Motor Co., Ltd. alongside existing shareholders Engie New Ventures, MPC, Safran Corporate Ventures, FO Holding, Planet A Ventures and HTGF.
Through their new investment and together with Honda, existing shareholders reaffirm their support for the development of synthetic fuels, such as sustainable aviation fuel (SAF) or Diesel. The feedstocks CO2 and green hydrogen will be used to produce e-fuels and synthetic chemicals that can directly replace fossil fuels. Especially now, as the tailwinds for clean fuels are strong, the partnership will impactfully transform industries and mobility towards carbon-neutrality.
INERATEC, Honda and the other strategic investors will advance the testing and application of renewable e-fuels, by bringing their expertise to further develop the best-in-class production for synthetic fuels via INERATEC's Power-to-X technology. The new partnership with Honda will enable further optimization of the fuel production process. This collaboration will facilitate the global use of the e-fuels and thus the achievement of ambitious CO2 reduction targets becomes reality.
"Honda has high expectations for the future of INERATEC, a company which has advanced concepts and technologies for synthetic fuel production," said Shinji Aoyama, Director and Senior Managing Executive Officer of Honda. "Honda views synthetic fuels as one of a wide range of technologies that will contribute to achieving carbon neutrality in certain fields, such as aviation. Honda will continue to search for, collaborate with, invest in, and acquire promising venture companies through our global open innovation program, Honda Xcelerator*".
INERATEC is thus expanding its relations in the Japanese and US region. "We are proud of the strong commitment from the international innovation leader Honda and very happy that Honda believes in INERATEC's leadership in e-fuels as well the future potential of our technology. Together we will extend the technological and market leadership for the commercial production of e-fuels and e-chemicals on a global scale", adds Tim Boeltken, Managing Director at INERATEC.
* Honda Xcelerator is an open innovation program promoting collaboration between startups and Honda. Silicon Valley-based Honda Innovations, a subsidiary of Honda Motor Co., Ltd., has been the main driving force behind this global program.
INERATEC is a pioneer in the field of Power-to-Liquid applications. The company supplies sustainable fuels as well as chemical products. Modular chemical plants for power-to-X and gas-to-liquid applications use hydrogen from renewable electricity and greenhouse gases such as CO2 to produce e-kerosene, CO2-neutral gasoline, clean diesel or synthetic waxes, methanol or SNG. Founded in 2016, INERATEC has already implemented industrial-scale power-to-liquid plants at German sites to boost the availability of sustainable fuels and chemicals in various transport sectors such as aviation. Further information can be found via www.ineratec.com
Honda Motor Co., Ltd. (NYSE: HMC) is responsible for the development, production and sales of automobiles, motorcycles, power products and aviation products worldwide. Honda now delivers over 30 million products annually through its three product lines. Honda and its partners build products in more than 60 manufacturing plants in 27 countries, employing about 220,000 associates globally. On a global basis by 2050, Honda is striving to achieve carbon neutrality for all products and corporate activities, as well as zero traffic collision fatalities involving Honda automobiles and motorcycles.
ENGIE New Ventures
ENGIE New Ventures (ENV) is the investment fund of ENGIE, Research & Innovation division, dedicated to innovative climate technology start-ups. ENV makes minority investments in innovative start-ups bringing strategic value to the Group with a focus on both the current ecosystem and on future breakthrough technologies. Since 2014, investments have been made in more than 50 solutions in the cleantech sector. Investment thesis is now focused in particular on renewables, energy efficiency solutions and flexibility, green gasses including hydrogen. ENV's offices are represented in Paris, San Francisco and Tel Aviv. Further information: www.engieventures.com
Safran Corporate Ventures
Safran is an international high-technology group, operating in the aviation (propulsion, equipment and interiors), defense and space markets. Its core purpose is to contribute to a safer, more sustainable world, where air transport is more environmentally friendly, comfortable and accessible. Safran has a global presence, with 76,800 employees and sales of 15.3 billion euros in 2021, and holds, alone or in partnership, world or regional leadership positions in its core markets. Safran undertakes research and development programs to maintain the environmental priorities of its R&T and Innovation roadmap. Safran is listed on the Euronext Paris stock exchange and is part of the CAC 40 and Euro Stoxx 50 indices. Safran is listed on the Euronext Paris stock exchange and is part of the CAC 40 and Euro Stoxx 50 indices.
Safran Corporate Ventures is Safran's venture capital arm, tasked with funding innovative technology businesses and startups. Since being founded in April 2015, it has contributed financing to fourteen innovative companies active in sectors related to Safran's businesses (decarbonizing aircraft industry, Industry 4.0, onboard components, new materials, new services).
MPC Münchmeyer Petersen & Co. GmbH („MPC Group") is a family owned, global group and through its subsidiaries and affiliates active in asset and investment management, shipping, shipbuilding but also industrial services and project development mainly in the field of renewables. With its head office in Hamburg and a strong international network, counting approximately 750 employees, the MPC Group is combining the technical and financial expertise required to execute and operate complex industrial projects in international markets.
Planet A Ventures
Planet A is an investment fund partnering with European green-tech startups that have a significant positive impact on our planet while building scalable businesses globally. The venture capital firm's mission is to contribute to an economy within the planetary boundaries. Planet A supports innovation in four key areas: climate mitigation, waste reduction, resource savings and biodiversity protection. As the first European VC, Planet A offers scientific life cycle assessments to support investment decisions and empower founders to manage and improve their impact. A wide network of experienced entrepreneurs and renowned experts support the portfolio companies. Investments include traceless materials (plastic alternatives), Ineratec (e-fuels), C1 (green methanol), GA Drilling (geothermal energy), 44.01 (carbon storage) and Makersite (supply chain decarbonisation).