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Press release

European Energy receives EU Innovation Fund grant for Green Methanol facility in Denmark

Oct 23, 2024

Copenhagen, Denmark, 23 October, 2024 – European Energy has been awarded a grant by the EU Commission under the EU Innovation Fund for an upcoming green methanol facility in Denmark.

The grant, which exceeds EUR 50 million, will help finance the construction of the project. The signing of the grant will happen in early 2025.

“We are honored that the EU Commission has chosen to support our project as part of the next wave of green transition across Europe. With this project, we take the development of large-scale green methanol facilities to the next stage. Our firm target is to increase size and reduce cost while improving efficiency as this is required to drive down the cost of the green transition. We thank EU’s Innovation Fund for supporting us in this challenge and look forward to bringing the project into construction and operation,” said Emil Vikjær-Andresen, EVP and Head of Power-to-X at European Energy.

The green methanol facility is projected to produce over 100,000 tonnes of green methanol annually and reduce CO2 emissions by 150,000 tonnes per year.

Construction is expected to begin in 2026, with the facility becoming operational by 2028/29.

The project builds on the unique knowledge European Energy has generated with its first green methanol facility in Kassø, Denmark, which is currently being commissioned. This facility has a production capacity of approximately 32,000 tonnes of green methanol annually. so the new project more than triples the capacity.

The final grant is subject to negotiations.

Contact

Ming Ou Lü

PR Manager

miol@europeanenergy.com

+45 3126 9376