The two companies say the bridge financing will support near-term liquidity, while their project joint venture continues raising long-term project funding.
The loan of an undisclosed amount was arranged by Danish bank Nordea and Sumitomo Mitsui Banking Corporation, with partial guarantee from Denmark’s state-owned export and investment fund EIFO.
European Energy Deputy CEO, Jen Peter Zink, said the financing would support the operation of the facility, and would contribute to broader e-fuel uptake.
Having started e-methanol deliveries in May 2025, the plant is among the largest of its kind, with capacity to generate up to 42,000 tonnes of e-methanol per year.
Green hydrogen, produced by the plant’s 52MW electrolyser installation, is combined with captured biogenic CO2 to synthesise e-methanol.
E-methanol, which could replace grey methanol use in chemical sectors, is also being explored as a future fuel for shipping.
Offtakers include ship operator AP Moller – Maersk, pharmaceutical firm Novo Nordisk, and toy manufacturer Lego Group.
The financing deal highlights the strains in developing economically stable green fuel projects, which face higher production costs and tougher offtake negotiations compared to fossil-based incumbents.
In a recent column for H2 View, European Energy CEO Knud Erik Andersen said electrolysis-based methanol production remains highly sensitive to power costs, highlighting ongoing price challenges around electricity sourcing.
Column | Electrolysis isn’t enough: why low-carbon methanol needs multiple routes to scale
Across shipping, chemicals, and heavy industry, the demand for low-carbon fuels is rising fast. Methanol has emerged as a leading candidate – it’s versatile, easy to handle without slippage, and already has a large global market, although in its fossil form.
But there is a hard truth that must be confronted: producing green methanol at scale is still too expensive in many places. For security and climate reasons, transitioning away from imported fossil fuels makes sense. However, this transition cannot come at the sacrifice of competitiveness. Instead, we must find a method to make the two a prerequisite.
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