Amazon inks "green diesel" deal

Amazon has agreed to purchase up to 5 million miles' worth of low-carbon electro-fuels from Infinium.

Why it matters: The deal seeks to address emissions from Amazon's existing logistics network.

Driving the news: An Amazon spokesperson tells Axios the company has agreed to purchase Infinium's fuel to power its mid-mile fleet of vehicles in Southern California, which currently run on traditional diesel fuel.

• Infinium's fuel is made using carbon waste, but its production facility has not yet been completed. It plans to begin delivering fuel to Amazon in 2023 to power up to 5 million miles driven annually.

Yes, and: Amazon has also made moves to electrify its growing fleet of delivery vehicles with a 100,000-custom truck purchase order from EV maker Rivian.

Flashback: Amazon invested in Infinium through its $2 billion Climate Pledge Fund in January 2021.

Be smart: It is not uncommon for the e-commerce giant to act as both customer and investor for some of the Climate Pledge Fund portfolio companies.

• Earlier this year, it signed an agreement with sustainable concrete maker and portfolio company CarbonCure to supply concrete at 13 Amazon construction sites.

Between the lines: Amazon is testing an array of options to reduce the emissions from its massive logistics network instead of committing to a singular strategy across the planes, trains and automobiles that comprise that network.