SEATTLE–(BUSINESS WIRE)–i(x) investments (“i(x)” or the “Company”), a permanently capitalized holding company focused on the Energy Transition and Sustainability in the Built Environment (“SIBE”), is delighted to announce that A.P. Moller – Maersk (“Maersk”) has agreed to acquire a minority stake in i(x)’s key holding company, WasteFuel Global LLC (“WasteFuel”), which produces renewable fuels using proven technologies to address the climate emergency and revolutionize mobility. The announcement by Maersk also highlights the opportunity for a long-term offtake agreement to supply green bio-methanol at scale for its new fleet of “green” container ships.
The Maersk investment is an important and high-profile endorsement of i(x) investments’ strategy to create long-term enterprise value in combination with positive, measurable environmental and social impact. i(x) invests catalytic capital and deploys strategic resources to enable its holdings to achieve growth at scale.
i(x) investments is led by an executive team with broad and deep experience within the finance industry, including private equity, venture capital, growth capital, real estate and capital markets. CEO Steve Oyer, formerly of Lazard and Brookfield, is supported by private equity and global special situations specialist, Pär Lindström, CIO, and former Macquarie Senior VP, Marc Chennault as CFO. Nick Hurd, former UK Government Minister and Convenor of the Climate Change working group of the Conservative Party’s Quality of Life Policy Group, is Non-Executive Chairman.
In addition to WasteFuel, i(x)’s holdings include Enphys (renewable power) and Carbon Engineering (carbon to value) and sustainable real estate firms, MultiGreen Properties and Sustainable Living Innovations.
WasteFuel, which is currently i(x)’s largest holding, is focused on converting municipal (trash) and agricultural waste into low-carbon fuels, renewable natural gas, and green methanol. WasteFuel’s first project, which is to convert waste into sustainable aviation fuel, is under development in Manila, Philippines. Maersk’s acquisition of a minority stake in WasteFuel reflects the shipping giant’s stated commitment to decarbonize its fleet: it recently announced a US$1.4 billion investment in methanol-fueled ships and has committed to being carbon neutral by 2050.
Steve Oyer, CEO of i(x) investments, said:
“From our perspective, we see capital, when deployed intentionally, having the power to improve the sustainability of our planet and the communities in which we live. Our mission is to utilise our shareholders’ capital, our collective experience and sphere of influence as a catalyst to help solve the intractable problems of climate change through proven technology and new industrial-scale businesses.
“The greatest challenges facing our world also create the greatest opportunities for entrepreneurs and investors. i(x) investments was founded on this principle with the aim of providing top-tier, risk-adjusted returns with measurable impact that align with the values and mission of our stakeholders.
“WasteFuel’s new relationship with Maersk is a significant endorsement of the quality of our holdings and our strategy. We all congratulate Trevor Neilson, i(x)’s Co-founder and former CEO and Chairman, and his team for this important milestone.”
Trevor Neilson, Co-founder, Chairman and CEO of WasteFuel, said:
“We are delighted to be entering into this partnership with Maersk and to be working with them to help achieve their goal of a fully net zero fleet by 2050.
“WasteFuel is a firm believer in the power of technology to solve the challenges presented by climate change. We are grateful for the early investment and continued support from i(x) investments, without which there would be no WasteFuel.”
About i(x) investments
Founded in 2015, i(x) investments is a permanently capitalized holding company for investors who want to create long-term enterprise value in combination with positive, measurable social impact. i(x) believes the world’s biggest problems are also the biggest market opportunities and invests in areas of human need. i(x)’s current holdings focus on the Energy Transition and Sustainability in the Built Environment. The company uses a multi-strategy investment approach throughout the entire capital structure.