European Energy and Mitsui have secured a green-financing bridge facility for their joint venture developing the Kassø solar park and e-methanol plant in Denmark.
The companies said the package arranged by Nordea and SMBC includes a partial guarantee from EIFO.
They added that the bridge financing will optimise short-term liquidity while long-term project financing is pursued.
Kassø produced its first e-methanol in May 2025 and has annual capacity of up to 42,000 tonnes.
The project draws renewable power from the adjacent solar park and has offtake agreements with A.P. Moller – Maersk, the LEGO Group and Novo Nordisk.
“Power-to-X projects such as Kassø demonstrate how renewable energy can be integrated into industrial processes that require low-carbon fuels or low-carbon raw materials for plastic products,” said Jens Peter Zink, deputy CEO of European Energy.
“The financing agreement supports operating and financing of e-methanol production in Denmark and contributes to the broader uptake of electrofuels among companies working to reduce emissions,” Zink added.
“The Kassø e-methanol facility is breaking new ground and paving the way for decarbonisation in Europe,” stated Peder Bach, head of large corporates and institutions Denmark at Nordea.
“Kassø illustrates precisely the type of project EIFO seeks to support over time,” said Peter Boeskov, CCO large corporates at EIFO.
Construction of the Kassø facility began in 2023, with the first batch delivered to the container vessel Laura Mærsk during its inauguration in May 2025.