SK Innovations backs Infinium, the pace amps up in the race for electrofuels

A barrel of strategic equity has landed on the Infinium square of the bioMonopoly board, this one from South Korea, the Land of Morning Calm. SK Innovation (part of the SK group, one of Korea’s most formidable chaebol conglomerates), to step up and send this interesting company right into front row in the race for electrofuels at scale.

It has been a “shiny object” company, Infinium — electrofuels have been on the “fascinating technology” sheet for more than a decade. Why now? Observers are pointing to: excess solar and wind capacity, to Net Zero pledges, to energy security hopes and fears, maturing technology, the maturing of the company itself as it evolved out of technology originally at Greyrock. Probably, a combination of all five. 

Now, investment isn’t scale, finance isn’t offtake, but Infinium’s stepped it up a notch, no doubt about it. Let’s look at the details.

The Infinium investment from SK

SK Innovation has closed a round of institutional funding into Infinium, a clean fuels innovator, amount not disclosed. The investment will support acceleration of Infinium’s commercial developments globally.  

The technology story

Infinium Electrofuels technology converts carbon dioxide waste and renewable power through its proprietary process to create hydrogen-based alternatives to traditional fossil-based fuels. Electrofuels are ultra-low carbon drop-in fuels that can be used in today’s infrastructure and engines without modifications or upgrades. 

The Infinium investment from SK

SK Innovation has closed a round of institutional funding into Infinium, a clean fuels innovator, amount not disclosed. The investment will support acceleration of Infinium’s commercial developments globally.  

The technology story

Infinium Electrofuels technology converts carbon dioxide waste and renewable power through its proprietary process to create hydrogen-based alternatives to traditional fossil-based fuels. Electrofuels are ultra-low carbon drop-in fuels that can be used in today’s infrastructure and engines without modifications or upgrades. 

Infinium Electrofuels Process

The electrofuels backstory

Electrofuels are emerging as a next-generation low-carbon fuel alternative. Infinium’s technology focuses on production of liquid fuel alternatives for industries that are challenged with decarbonization today, such as long-haul trucking, marine and aviation. Demand for low-carbon fuel alternatives continue to grow globally as companies look for ways to decarbonize their supply chains, while governments enact policies to support the supply of decarbonized fuels. 

The progress ahead 

SKTI’s investment in Infinium is a significant step toward the implementation of SK Innovation’s “Carbon to Green Strategy,” announced last year, and is the first investment in the next-generation green energy field. 

The backstory

Infinium and electrofuels: They Might Be Giants is here.

Reaction from the stakeholders

“SKTI is excited about the opportunity to support expanding green energy supply opportunities globally through its investment in Infinium to achieve net zero activities,” said Suh Sok-won, CEO of SKTI. “With this investment we aim to support the acceleration of Infinium Electrofuels adoption globally.” 

“We welcome SK to our portfolio of investors and appreciate the confidence they have placed in us as we ramp production of Infinium Electrofuels for global markets.” noted Infinium CEO Robert Schuetzle.