INERATEC closes financing round – sustainable boost for e-fuels
Planet A, Extantia & FO Holding invest into INERATEC
INERATEC closes a financing round with impactful partners from climate- and green-tech and the German Mittelstand to boost the production capacities as well as the availability of sustainable e-fuels.
INERATEC is on a mission to defossilize mobility and the chemical sector. It provides modular chemical plants for Power-to-X (PtX) applications and supplies sustainable e-fuels as well as e-products. In contrast to the production of traditional chemical plants, INERATEC provides standardized modular PtX units which can be manufactured in serial production. This leads to cost and time savings. As a pioneer in PtX, INERATEC will use the funds to accelerate the company’s growth and reach the next technical readiness level to manifest its role in the market.
Where the sustainable e-fuels will come from: INERATEC’s Power-to-X plants. © INERATEC
The Paris Climate Goals can only be achieved with synthetic hydrocarbons: e-fuels made from renewable hydrogen and CO2. INERATEC solves some of the toughest challenges of the energy transition: the optimal use and storage of renewable electricity, which is subject to natural fluctuations.
E-fuels will enable climate-neutrality in aviation, heavy-duty and shipping as well as road-traffic. The chemical industry has the chance to decarbonize by switching from fossil materials to e-products. INERATEC’s synthetic waxes and oils can be used, for example, in cosmetics, coatings or paints.
INERATEC plans an industrial pioneer plant for the production of sustainable synthetic fuels starting in 2022. Up to 3,500 tons or 4.6 million liters of INERATEC e-fuels can be produced annually from up to 10,000 tons of biogenic CO2 and renewable electricity. The pioneer plant will be the largest one so far and will serve as an enabler for further worldwide power-to-liquid projects of INERATEC.
“In this financing round we have teamed up with new influential partners from the German Mittelstand as well as impact investing funds in order to accelerate our sustainable business”, states Philipp Engelkamp, co-founder and managing director of INERATEC. “The financing consortium consists of our current investor High-Tech Gründerfonds (HTGF) as well as our new partners Extantia Capital, FO Holding and Planet A.”
“As an investor since 2018, we are more than satisfied with the development of INERATEC. For us, it is the obvious choice to increase our investment into this promising deep-tech start-up”, Jens Baumgärtner, Senior investment manager at HTGF adds.
Sebastian Heitmann, Founder and General Partner at Extantia Capital concludes:
“Germany has a great tradition in plant engineering, which INERATEC will now take into a new generation. The company has already proven that it is an innovation leader for the decarbonisation of transport and we are therefore pleased to be part of this promising venture.”
Tobias Seikel, Co-founder and Partner at Planet A, explains: “Based on Planet A’s scientific impact assessment, we are confident that INERATEC’s products will be corner stone in replacing fossil-based fuels in hard to decarbonize sectors such as long-distance aviation and industry. Changing regulatory frameworks, namely the blending quota for synthetic fuels in aviation in the EU, makes this a very attractive investment opportunity.”
Ferdinand Oetker, Managing Director at FO Holding: “We hope that INERATEC will make a decisive impact on the decarbonization of economic sectors and help to achieve CO2 neutrality in an industrialized economy. The company has a large number of highly talented employees with a clear vision and innovative products which we are looking forward to supporting in the future.”
Climate change affects us globally – it is our vision to grow INERATEC PtX plants and e-fuels to a global scale, too. With the implementation of PtX plants at suitable sites all around the world, INERATEC will be able to make CO2-neutral and affordable e-fuels and e-products available to everyone.
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven start-ups. With around EUR 900 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge more than 600 start-ups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and startup experts help guide the development of young companies. HTGF’s focus is on high-tech start-ups in the fields of digital tech, industrial technology, life sciences, chemistry and related business areas. To date, external investors have injected more than EUR 3 billion into the HTGF portfolio via more than 1,700 follow-on financing rounds. HTGF has also successfully sold interests in more than 130 companies.
Investors in this public-private partnership include the Federal Ministry For Economic Affairs and Energy, KfW Capital, and Fraunhofer-Gesellschaft e.V., as well as the companies ALTANA, BASF, BAYER, B.Braun, Boehringer Ingelheim, Robert Bosch, BÜFA, CEWE, Deutsche Bank, Deutsche Post DHL, Dräger, 1+1 AG, EVONIK, EWE AG, FOND OF, Haniel, Hettich, Knauf, Körber, LANXESS, media + more venture Beteiligungs GmbH & Co. KG, PHOENIX CONTACT, QIAGEN, RWE Generation SE, SAP, Schufa, Schwarz Gruppe, STIHL, Thüga, Vector Informatik, WACKER and Wilh. Werhahn KG.
Extantia Capital is the first European venture capital investor that supports startups in the development of deep decarbonisation technologies and their measurable contribution to climate protection. In addition to capital, the firm provides know-how from its founding partners. They are part of a network of high-profile and experienced investors, entrepreneurs, university partners and climate experts. The current portfolio includes GA Drilling, Bloom, betteries and Ineratec. More information www.extantia.com
Founded in 2020, Planet A is an impact investment fund targeting for-profit start-ups that have a measurable positive impact on our planet while building scalable businesses. Planet A partners with European early-stage companies having the potential to scale globally. The start-ups have to contribute to significant positive change in at least one of four key areas: climate mitigation, waste reduction, resource savings and/or biodiversity protection. For its portfolio companies, Planet A offers support with/ as:
- Impact measurement: scientific impact assessment, forecasting and visualization,
- The Planet A Network: a diverse network of experienced German and European entrepreneurs,
- Long-term funding partner: early-stage investments with interest in follow-on rounds.
Planet A’s vision is to make impact investment the new normal. More information under http://www.planet-a.com
FO Holding is a single family office based in Düsseldorf, Germany. Among other sectors, FO Holding has been investing in promising startups in innovative industries.
Dr. Maximilian Fluegge