Investment in Fulcrum BioEnergy, Inc., USA
Sep. 20. 2018
Marubeni Corporation (hereinafter, “Marubeni”) hereby announces that, on September 19th, 2018, Marubeni invested in Fulcrum BioEnergy, Inc. (hereinafter, “Fulcrum”), a United States based company that, in conjunction with Japan Airlines Co., Ltd (hereinafter, “JAL”) and Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (hereinafter, “JOIN”), develops and produces low-carbon jet fuel derived from the country’s most abundant resource – municipal solid waste (this process is also knows as, “Waste to Fuel”).
Fulcrum has developed and owns a proprietary process that produces low-carbon jet fuel, using municipal solid waste as a feedstock and is developing and constructing several Waste to Fuel projects in United States. Fulcrum is currently constructing its first commercial plant outside of Reno, Nevada, which is on schedule to begin operation in 2020.
In order to achieve carbon neutral growth, and to address any annual increase in total CO2 emissions from international civil aviation (i.e. civil aviation flights that depart in one country and arrive in a different country) above the 2020 levels, the International Civil Aviation Organization has decided to implement a global market- based measure scheme in the form of the Carbon Offsetting and Reduction Scheme for International Aviation. In order to contribute the reduction of CO2 emission from the international aviation sector, Marubeni executed the Master Joint Development Agreement with Fulcrum such that Marubeni and Fulcrum will jointly develop Waste to Fuel projects around the world.
Beginning with this investment in Fulcrum, Marubeni is committed to working towards developing new renewable energy and resource recovery businesses that will enable a Circular Economy.
<Outline of Fulcrum>
|Corporate Name||:||Fulcrum BioEnergy, Inc.|
|HQ address||:||4900 Hopyard Road, Suite 220, Pleasanton, CA 94588 USA|
|Representation||:||E. James Macias, President and Chief Executive Officer|
|Business Description||:||Development and Management of the business to produce and sell syncrude and low-carbon transportation fuel; Biorefinery operation and maintenance.|
Views of Fulcrum’s First Commercial Plant – Sierra BioFuels Plant
Thermochemical process that converts municipal solid waste into low-carbon jet fuel