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 financing package was arranged by Nordea and Sumitomo Mitsui Banking Corporation (SMBC) and includes a partial guarantee from Denmark’s export credit agency EIFO, according to the companies.
European Energy and Mitsui said the bridge facility is intended to optimise short-term liquidity while longer-term project financing is pursued.
The Kassø project produced its first e-methanol in May 2025 and has an annual production capacity of up to 42,000 tonnes. The facility is powered by renewable electricity generated by the adjacent Kassø solar park.
The e-methanol output is covered by offtake agreements with A.P. Moller – Maersk, the LEGO Group and Novo Nordisk, the companies said.
“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,” Jens Peter Zink, deputy chief executive of European Energy, said in a statement.
He added that the financing would support ongoing operations. “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 said.
“The Kassø e-methanol facility is breaking new ground and paving the way for decarbonisation in Europe,” Peder Bach, head of large corporates and institutions Denmark at Nordea, said.
EIFO said the project aligns with its mandate to support the energy transition. “Kassø illustrates precisely the type of project EIFO seeks to support over time,” Peter Boeskov, chief commercial officer for large corporates at EIFO, said.
Construction of the Kassø facility began in 2023. The first batch of e-methanol was delivered to the container vessel Laura Mærsk during the project’s inauguration in May 2025, the companies said.
