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AMAZON.COM, INC.

(AMZN)
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Real-time Estimate Cboe BZX  -  01:25 2022-11-30 pm EST
91.84 USD   -0.63%
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Amazon-backed firm to help power its trucking fleet with electrofuels

09/20/2022 | 07:55am EST
FILE PHOTO: Amazon's JFK8 distribution center in Staten Island, New York City

(Reuters) - Amazon.com-backed Infinium said on Tuesday it will supply low-carbon electrofuels for the e-commerce giant's trucking fleet starting next year.

Infinium's supply of electrofuels -- a fossil-based fuel alternative created with carbon waste and renewable power -- will reduce Amazon's carbon emissions for roughly 5 million miles of travel per year, it said.

The tech giant said it plans to initially use the electrofuels in trucks in its middle-mile fleet in Southern California.

The agreement comes after Amazon last month signed a deal with Plug Power Inc for 10,950 tons of green hydrogen every year starting 2025, to help it replace grey hydrogen, diesel, and other fossil fuels.

Amazon invested in Infinium, a renewable electrofuels solution provider, in 2021. It was a part of Amazon's Climate Pledge Fund -- a $2 billion investment program launched in 2020 to invest in companies to help reduce the impact of climate change and support sustainable development.

(Reporting by Chavi Mehta in Bengaluru; editing by Uttaresh.V)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. -0.56% 91.89 Delayed Quote.-44.56%
GREEN HYDROGEN SYSTEMS A/S -0.98% 14.14 Delayed Quote.-58.43%
PLUG POWER INC. -0.37% 14.885 Delayed Quote.-47.22%
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Analyst Recommendations on AMAZON.COM, INC.
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Financials (USD)
Sales 2022 511 B - -
Net income 2022 -828 M - -
Net cash 2022 19 696 M - -
P/E ratio 2022 -1 089x
Yield 2022 -
Capitalization 943 B 943 B -
EV / Sales 2022 1,81x
EV / Sales 2023 1,61x
Nbr of Employees 1 608 000
Free-Float 85,8%
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Technical analysis trends AMAZON.COM, INC.
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 52
Last Close Price 92,42 $
Average target price 142,70 $
Spread / Average Target 54,4%
EPS Revisions
Managers and Directors
Andrew R. Jassy President, Chief Executive Officer & Director
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Jeffrey P. Bezos Executive Chairman
Patricia Q. Stonesifer Independent Director
Jonathan Jake Rubinstein Lead Independent Director
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