Aymium, a leading innovator in renewable biocarbon solutions, has successfully secured $210 million in financing to build a new biocarbon production facility in Williams, California. Upon its planned completion in 2025, the facility will be the world's first large-scale, continuous operation dedicated to replacing coal with advanced biocarbon for power generation. The switch from coal to Aymium's biocarbon is expected to cut greenhouse gas emissions by over 500,000 metric tons annually, which equates to removing more than 120,000 cars from the road each year.
“We are excited to have the support from such an experienced group of investors from Asia, North America and Europe,” stated James Mennell, CEO of Aymium. “These groups share a profound commitment to decarbonization and have come together to advance this technology that will create a substantial reduction in greenhouse gas emissions for many years.”
The funding for this venture comes from a global consortium dedicated to advancing cutting edge decarbonization technologies. Senior debt financing, structured as green bonds, is being jointly provided by ECP ForeStar and Copenhagen Infrastructure Partners (CIP) through its Green Credit Fund. Subordinated debt is being contributed by Japan Green Investment Corp. for Carbon Neutrality (JICN) alongside Aymium itself. Equity investments are being made by Hokuriku Electric Power Company, Nippon Steel Trading, and Aymium.
Rahm Emanuel, U.S. Ambassador to Japan, remarked on the project’s international significance: “A global threat like climate change demands a global solution. The only way to tackle a challenge of this magnitude is by thinking and collaborating across borders. With the United States and Japan cooperating on a multitude of areas related to energy and the environment, Aymium’s groundbreaking biocarbon production facility is the latest project to benefit from this flourishing relationship.”
Reiner Boehning, Managing Partner at ECP ForeStar, emphasized the critical role of Aymium’s innovative production process in advancing the decarbonization of industrial sectors such as steelmaking and power generation and expressed enthusiasm for financing the Williams facility, recognizing it as a vital component of industrial decarbonization. Jakob Groot, Partner at CIP and co-head of its Green Credit Fund, discussed the alignment of this investment with their mission to foster significant contributions to the green transition and expressed pride in supporting Aymium’s project.
In 2022, Aymium and Steel Dynamics formed SDI Biocarbon Solutions to develop a biocarbon production facility in Mississippi, which is set to become operational later this year. This initiative is poised to reduce Steel Dynamics' Scope 1 emissions by up to 25% by replacing fossil fuels with renewable biocarbon in their steelmaking process.
Aymium's biocarbon product is produced through an innovative non-combustion process, uniquely positioning it as the only commercially demonstrated carbon-negative alternative to coal in power generation. Its method converts waste biomass into high purity biocarbon, designed to replace fossil coal directly without requiring any modifications to existing power plants. The biocarbon boasts superior energy efficiency, handling characteristics, and environmental benefits compared to coal. Aymium’s process is powered by self-generated renewable energy and utilizes third-party certified sustainable waste biomass. The company’s technological advancements are safeguarded by over 500 issued and pending patents.
