European Energy receives EU grant for green methanol

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

“We are honoured 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 tpy of green methanol and reduce CO₂ emissions by 150 000 tpy.

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 tpy of green methanol. so the new project more than triples the capacity.

The final grant is subject to negotiations.

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