07:48 AM EDT, 09/10/2024 (MT Newswires) -- Brookfield Asset Management ( BAM ) said Tuesday that it agreed to invest up to US$1.1 billion in Infinium, a producer of commercially available ultra-low carbon eFuels.

Infiniu eFuels includes eSAF, a sustainable aviation fuel that can reduce lifecycle greenhouse gas emissions by 90% or more compared with today's conventional fuels.

Brookfield's share price inched up 0.3% to US$42.35 in NYSE pre-market trading following the news.

Under the terms, Brookfield agreed to invest over US$200 million in Infinium and its Project Roadrunner that is under development in West Texas.

Brookfield will also spend up to an additional $850 million for deployment of other Infinium eFuels projects globally, all subject to pre-agreed metrics.

"Our investment is structured to provide the capital Infinium needs to accelerate the production of sustainable aviation fuels to meet the growing demand from corporate customers while generating attractive risk-adjusted returns for Brookfield," said Jehangir Vevaina, managing partner at Brookfield.

Infinium recently announced a deal to supply eSAF fuel to American Airlines starting in 2026.