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Equinor Ventures invests in Booster Fuels

(UTC)Last modified

Equinor Ventures is pleased to announce an investment in Booster Fuels, a San Mateo, California-based company decarbonizing transportation by simplifying access to low carbon fuels.

Series D summary

Booster Fuels raised over USD 125 million in a Series D to drive accelerated expansion of the company’s quickly growing network of on site, direct vehicle refueling service that delivers a growing range of low carbon fuels directly to the customer.The round was led by Rose Park, an investment firm specializing in disruptive innovation, included several existing investors, and welcomed Mitsubishi Corporation as a new investor.

Investment Overview

Booster delivers fuel directly to last mile delivery fleets, making refueling more resource efficient.Through a strategic partnership with Renewable Energy Group, Booster is moving to shift customers to low carbon transportation fuels to significantly reduce transportation related carbon emissions in a cost-competitive, resource efficient way.The transportation sector is the largest GHG emitter by sector, and reducing transportation related carbon emissions is critical to achieve climate goals.Booster’s growing network of low carbon fuel deliver accelerates customer access to cost effective fuels that offer up to 95% reduction in emissions despite a current lack of renewable and e-fuel infrastructure.

Low carbon fuels will play a critical role in reducing emissions particularly for commercial and industrial fleets, and Equinor is pleased to support accelerated, cost-effective access to these fuels.