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Press release

European Energy and Montauk Renewables sign agreement on biogenic CO2

Feb 14, 2024

An agreement has been signed by European Energy and Montauk Renewables for a long-term contract of biogenic CO2 delivery.

European Energy and Montauk Renewables have signed an agreement for a long-term contract involving the delivery of biogenic carbon dioxide (CO2). The contract stipulates the annual delivery of 140,000 tonnes/year of biogenic CO2 over a minimum15-year term, with an option to extend.

CO2 is essential in the production of e-methanol at European Energy’s e-methanol facilities. European Energy has recently secured a 50-year lease with the Port of Victoria in Texas for a potential e-methanol site at the port.

Montauk will capture, clean and liquify CO2 at select Texas facilities, at which point it will be transported via truck to EENA’s Texas-based e-methanol facility. There, the carbon dioxide, combined with green hydrogen, will be synthesized into e-methanol. This versatile substance has various applications, including as e-fuel in shipping, as a raw material for sustainable green plastics, and as a blend in heavy transport.

This partnership aims to prevent significant amounts of CO2 from entering the atmosphere. European Energy will transform what was once considered a waste product into a valuable resource, using sustainably sourced biogenic CO2 provided by Montauk. This collaboration also opens a new revenue stream for Montauk Renewables, demonstrating the economic viability of environmentally conscious initiatives.

Lorena Ciciriello, CEO of EE North America, expressed the transformative potential of the partnership: “As we pioneer the clean energy transition, it’s imperative to forge alliances that drive real change. Our collaboration with Montauk is more than a transaction; it’s a shared commitment to a sustainable future. By harnessing our collective strengths and thinking creatively, we’re positioning ourselves as leaders in the clean energy landscape.”

Sean McClain, CEO of Montauk, underscored the far-reaching impact of the collaboration: “This agreement is illustrative of our commitment to environmental stewardship, leveraging our deep history of the collection and beneficial conversion of pollutants.  This endeavor is more than revenue generation and diversification, it is forging a relationship to actively fight against climate change.  Our collaboration with EE North America is the next step in Montauk’s dedication to enhance shareholder value through sustainable, decarbonized fuel sources.”

Jaime Casasus-Bribian, European Energy’s Director of Power-to-X Projects for the Americas, Australia & Iberia, highlighted the strategic importance of the agreement: “Being a first mover in the Power-to-X space requires a holistic approach and strong partnerships. This collaboration between Montauk, European Energy, and Ammongas aligns perfectly with our blueprint e-methanol project in Denmark. Our aim is clear—to be a key player in North America across e-fuels and hydrogen, driving innovation and shaping a sustainable energy future.”


Mathias Aarup Berg
Head of Regulatory Affairs, Communications
European Energy
+45 31 71 75 88