European Energy has signed an agreement to acquire co-ownership of Danish power-to-x start-up Reintegrate.
Under the terms of the deal European Energy will become a minority owner of Reintegrate, which is developing plants that produce methanol from renewable electricity via electrolysis.
European Energy also joins the start-up’s management board.
European Energy CEO Knud Erik Andersen (pictured) said the agreement between European Energy and Reintegrate will pave the way for more power-to-x plants around Denmark, but also outside Denmark’s borders.
Reintegrate CEO Lars Udby said: “The investment enables us to realise our ambition to produce e-methanol on a large scale and thereby contribute to Denmark getting started on the green transition of the transport sector and chemical industry.
“It also gives us the opportunity to get our company closely connected to a central, European player in the green transition.”
European Energy has previously announced possible site locations for power-to-x projects in Denmark, including the former coal power plant site at Stigsnaes as well as Kalundborg and Kasso by Aabenraa where the company is developing solar and wind farms.
Andersen said: “Our involvement in Reintegrate will not only make it possible to ensure the roll out of more power-to-x plants around Denmark, but also export the technology to all our solar parks and wind farms throughout Europe.”
He added: “If we place our Power-to-X plants appropriately, we can supply green power to the Power-to-X systems with minimal use of the grid.
“This should make it possible to ensure cheap green power that enables competitive power-to-x products.”
Circle K recently confirmed its intention to take off 50 million litres of liquid electricity from Reintegrate.