SK Innovation invests $20M in Fulcrum Bioenergy

In California, SK Innovation, the energy arm of South Korea’s SK Group has completed a $20 million equity investment in Fulcrum Bioenergy. In addition, Fulcrum and SK Innovation will work together to enter into an exclusive licensing agreement providing the opportunity to explore the possibilities of bringing Fulcrum’s patented and proprietary waste-to-fuel process to South Korea and select countries in Asia. 

SK Innovation, which contributes to South Korea’s energy security and economic development, operates South Korea’s largest refinery as well as petrochemical, e-mobility battery and information electronic materials businesses. This is the second investment that SK Group has made in Fulcrum, following its participation in a $50 million equity round in December 2021 by SK Inc.