Amazon in agreement with Infinium to add low carbon electrofuels to trucking fleet

Amazon.com Inc. AMZN, +0.91% said Tuesday it has signed an agreement with Infinium to add low carbon electrofuels to its trucking fleet starting in 2023. The company Infinium will provide enough electrofuels — s fossil-based fuel alternative created with carbon waste and renewable power — to power about 5 million miles of travel a year. Infinium is planning to build the world’s first electrofuels-production facilities in Texas. “We’ve supported Infinium’s technology through our Climate Pledge Fund, and it’s exciting to see our investment turning into usable fuel that will help us, and others across the industry, decarbonize transportation in the long run,” said Amazon’s vice president of worldwide sustainability Kara Hurst in a statement. Amazon shares were slightly lower premarket and are down 25% in the year to date, while the S&P 500 SPX, +0.69% has fallen 18%.