Danish Biogasol gets EUR 15m of equity, grant funding

Nov 12, 2012 - Danish renewable fuel firm Biogasol ApS today said it had secured EUR 15 million (USD 19m) of equity and grant financing to support demonstration of its technology at scale.

The company has received a EUR-5-million investment from its current majority shareholder -- London-based private equity firm Fjord Capital Partners, and a new investor -- Danish pension fund Unipension. The Energy Technology Development and Demonstration Programme, part of the Danish Energy Agency, has also confirmed a EUR-10-million grant award to the company, which has developed a pre-treatment reactor design to convert lignocellulosic materials like agricultural waste and wood into alternative fuels and substitutes for other oil-based products.

Biogasol plans to build a large-scale green fuel testing and production facility in Denmark. This demonstration plant will be co-financed by the company's industrial partners, US company Sweetwater Energy and an unnamed Scandinavian strategic partner, Biogasol chief executive Anders Weber said. The first construction phase is scheduled to start in the beginning of 2013.

(EUR 1.0 = USD 1.271)

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