INERATEC Secures $129 mn in VC Funding to Revolutionize Sustainable E-Fuels Production

INERATEC management team
The INERATEC management team: Philipp Engelkamp, Ingo Katz, Tim Boeltken and Caspar Schuchmann

INERATEC, an e-Fuel company, has raised over $129 million in its Series B funding round. The VC funding round is led by Piva Capital and featuring significant contributions from HG Ventures, TDK Ventures, Copec WIND Ventures, RockCreek, Emerald, Samsung Ventures, as well as more support from existing investors including ENGIE New Ventures, Safran Corporate Ventures, and Honda.

The focus is on scaling up e-Fuels production, with the goal of transforming 1GW of renewable energy into 125 million gallons of sustainable e-Fuel by 2030. This initiative aims to offer a viable and eco-friendly alternative to traditional fossil fuels, Tim Boeltken, CEO of INERATEC, said.

The demand for ‘drop-in’ e-Fuels, capable of being seamlessly integrated into existing infrastructure with minimal adjustments, is expected to triple by 2030, reaching $13.6 trillion by 2050, exhibiting a compound annual growth rate (CAGR) of 19.0 percent from 2023 to 2050.

INERATEC’s patented technology enables the production of ‘drop-in’ e-Fuels through a two-step process involving the conversion of CO2 and hydrogen into synthesis gas, followed by the transformation of synthesis gas into liquid and solid hydrocarbons.

INERATEC has built and operated numerous pilot plants, engaging with over 30 customers in various fields of application. The company has received prestigious awards, including the German Founders Award, the Next Economy Award, and the EARTO Award, while also being recognized as a Top Innovator by UpLink, the World Economic Forum’s innovation platform.

The newly acquired capital will facilitate the mass production of INERATEC’s Power-to-X plants globally, advancing the production of e-Fuels made from recycled CO2 and renewable energy.

The company has initiated the construction of its plant in Frankfurt and is expanding its global footprint with projects in the Netherlands and Chile. This expansion is expected to result in a 1,500-fold increase in production, recycling over 12,000,000 metric tons of CO2 annually – equivalent to the carbon absorption of 1,125,000,000 trees.

The Series B funding round boasts a formidable consortium of investors, including Planet A Ventures, MPC, High-Tech Grunderfonds, FO Holding, Safran Corporate Ventures, Honda, ENGIE New Ventures, HG Ventures, TDK, Copec WIND Ventures, RockCreek, Emerald, and Samsung Ventures.

Image: The INERATEC management team: Philipp Engelkamp, Ingo Katz, Tim Boeltken and Caspar Schuchmann