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Share Name | Share Symbol | Market | Type |
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Amazon.com Inc | NASDAQ:AMZN | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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4.09 | 2.34% | 179.09 | 179.06 | 179.09 | 185.15 | 176.56 | 181.64 | 93,782,060 | 21:46:38 |
By Will Feuer
Amazon.com Inc. said it signed a deal with renewable fuels technology company Infinium to begin powering the e-commerce giant's fleet of trucks with ultra-low-carbon electrofuels beginning in 2023.
Infinium is expected to initially supply enough electrofuels--a fossil-based fuel alternative created with carbon waste and renewable power--to begin powering Amazon trucks in lieu of diesel fuel for about 5 million miles of travel a year, Amazon said.
Amazon said it plans to initially use the electrofuels in trucks in its middle-mile fleet in Southern California. Amazon's middle-mile fleet focuses on moving customer orders from vendors and fulfillment centers to its sorting network and delivery stations.
Amazon said it previously invested in Infinium through its $2 billion venture program, the Climate Pledge Fund.
"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 Kara Hurst, Amazon vice president of worldwide sustainability.
Infinium plans to build one of the world's first electrofuels-production facilities in Texas, Amazon said.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
September 20, 2022 07:30 ET (11:30 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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