Latest news with #EuropeanEnergy
Yahoo
28-05-2025
- Business
- Yahoo
European Energy A/S: Q1 2025 report
Company announcement 8/2025 (28.05.2025) European Energy announces its financial report for the first quarter of 2025. Highlights: Q1 2025 EBITDA: European Energy delivered a solid result with a Q1 2025 EBITDA reaching EUR 45.9m, an increase of EUR 49.6m compared with Q1 2024, mainly as a result of more sales of energy parks and ready to build (RTB) projects. Solid project divestments: in Q1 2025, European Energy divested energy parks and projects totaling EUR 165.6m (Q1 2024: EUR 4.2m). The total capacity of divested solar energy parks amounted to 1.169 MW (Q1 2024: 0MW), of which 956 MW was a RTB project in the US and 213 MW was a forward sale in Denmark. Gross profit from the sale of energy parks and projects totalled EUR 48.9m (Q1 2024: EUR -7.9m), reflecting solid sales margins. Power production and sales: The total power production in Q1 2025 yielded 496 GWh, a decrease of 59 GWh or 11% compared to Q1 2024. Gross profit from sale of energy in Q1 2025 amounted to EUR 15.6m, a decrease of 11% compared to Q1 2024, mainly as the result of the beforementioned lower production. Power to X (PtX) projects progressing well: European Energy's Kassø e-methanol facility in Denmark continued the production preparations during the first quarter. In April, the Kassø facility produced industry-grade e-methanol for the first time and was certified as producing e-methanol under the EU's new sustainability framework for renewable fuels (ISCC EURFNBO standard). On May 13th, the facility was officially inaugurated and is now supplying e-methanol to A P Moller-Maersk, Novo Nordisk and the Lego group as offtakers. Comfortable funding status: European Energy ended Q1 2025 with a unrestricted cash position of EUR 189m and undrawn committed revolving credit facilities of EUR 93m leaving European Energy comfortably funded. 2025 financial outlook: On 28 February 2025, the Group announced its financial outlook for 2025 with EBITDA expected in the range of EUR 200-300m for 2025. We maintain this expectation as our Q1 2025 EBITDA was in line with own expectations and plans for the remaining year supports this target. For further information, please contact Investor Relations: This announcement has been made in accordance with the market abuse regulation (regulation (EU) no. 596/2014 on market abuse). Attachment Interim report Q1 2025
TimesLIVE
16-05-2025
- Business
- TimesLIVE
World's first commercial-scale e-methanol plant opens in Denmark
The world's first commercial-scale e-methanol plant began operations in Denmark on Tuesday, with shipping giant Maersk set to buy part of the production as a low-emission fuel for its fleet of container ships. The shipping sector is under pressure to find new sources of fuel after most countries gave their backing to measures to help meet the International Maritime Organisation's targets towards eliminating carbon emissions by 2050. Zero-emission shipping fuels, such as green ammonia and e-methanol, which are produced using renewable energy, have tended to be more expensive than conventional fuel largely because they are not produced at scale. 'We expect we will have a price parity with fossil methanol around 2035,' Knud Erik Andersen, CEO of Denmark's European Energy, told Reuters. Located in Kasso in southern Denmark, the new plant, which has cost an estimated €150m (R3bn), will produce 42,000 metric tons, or 53 million litres, of e-methanol per year, said its joint owners Denmark's European Energy and Japan's Mitsui. Maersk will be a major customer of the Kasso plant. It operates 13 dual-fuel methanol container vessels that can be powered with fuel oil and with e-methanol and has ordered another 13 vessels.
Japan Today
14-05-2025
- Business
- Japan Today
World's first commercial-scale e-methanol plant opens in Denmark
FILE PHOTO: The Alette Maersk, a green methanol-powered ship, is seen docket at the Port of Los Angeles, in Los Angeles, California, U.S., August 27, 2024. REUTERS/Lisa Baertlein/File Photo By Isabelle Yr Carlsson The world's first commercial-scale e-methanol plant began operations in Denmark on Tuesday, with shipping giant Maersk set to buy part of the production as a low-emission fuel for its fleet of container ships. The shipping sector is under pressure to find new sources of fuel after a majority of countries gave their backing to measures to help meet the International Maritime Organization's targets towards eliminating carbon emissions by 2050. So far zero-emission shipping fuels, such as green ammonia and e-methanol, which are produced using renewable energy, have tended to be more expensive than conventional fuel largely because they are not produced at scale. "We expect that we will have a price parity with fossil methanol around 2035," Knud Erik Andersen, CEO of Denmark's European Energy, told Reuters. Located in Kasso in southern Denmark, the new plant, which has cost an estimated 150 million euros ($167 million), will produce 42,000 metric tons, or 53 million litres, of e-methanol per year, its joint owners Denmark's European Energy and Japan's Mitsui said. Maersk will be a major customer of the Kasso plant. It operates 13 dual-fuel methanol container vessels that can be powered with fuel oil and with e-methanol and has ordered another 13 of the vessels. It said, the plant's annual production is enough to power one large 16,000 container vessel sailing between Asia and Europe. For the smaller Laura Maersk, the world's first dual-fuel container ship, with a capacity of more than 2,100 twenty-foot equivalent units, requires only 3,600 tons of fuel per year. The Laura Maersk was scheduled to fuel near Kasso on Tuesday. Traditional methanol is typically produced from natural gas and coal. The Kasso plant will make e-methanol using renewable energy and CO2 captured from biogas plants and waste incineration. Maersk said one of the biggest challenges of switching to sustainable fuel was cost, and it is researching green fuel technologies and more efficient shipping to make the process cheaper. European Energy CEO Andersen said the company has plans to expand the Kasso facility as well as a pipeline of similar plants in Europe, Australia, Brazil and the United States. In addition to its use in shipping, e-methanol can replace fossil methanol in plastic production, meaning it can supply other Danish companies. Drugmaker Novo Nordisk and toymaker Lego will use e-methanol from the plant for making injection pens and plastic elements, respectively. Excess heat generated from the e-methanol production will be used to heat 3,300 households in the local area. © Thomson Reuters 2025.
The Star
13-05-2025
- Business
- The Star
First commercial-scale e-methanol facility inaugurated in Denmark
OSLO, May 13 (Xinhua) -- The world's first commercial-scale e-methanol production facility powered entirely by renewable energy officially began operations on Tuesday in Aabenraa, southern Denmark, marking a milestone in the transition to low-carbon fuels. With an annual production capacity of 42,000 metric tons, the Kasso facility is the first of its kind to synthesize e-methanol using green hydrogen and biogenic carbon dioxide. The process results in a product with up to a 97 percent lower carbon footprint than traditional fossil-based methanol. Located next to the 304-megawatt Kasso Solar Park - the largest of its kind in Northern Europe - the plant integrates renewable electricity with green hydrogen production and carbon capture and utilization (CCU) technology. Developed by European Energy, a Denmark-based green energy project developer, the facility is operated in partnership with Japan's investment and trading company Mitsui. European Energy holds a 51 percent stake in the project, and Mitsui holds 49 percent. "This is renewable energy in action, transforming how we use electricity," said Knud Erik Andersen, CEO of European Energy. The project represents an effort to bring "Power-to-X technologies into real-world use," he added. The first deliveries of e-methanol will be made to the Danish shipping giant A.P. Moller-Maersk, the global toy maker LEGO Group, and the pharmaceutical company Novo Nordisk. All three companies are integrating e-methanol into their operations as part of broader sustainability strategies.
Al Etihad
13-05-2025
- Business
- Al Etihad
World's first commercial-scale e-methanol plant opens in Denmark
13 May 2025 19:33 COPENHAGEN (REUTERS)The world's first commercial-scale e-methanol plant began operations in Denmark on Tuesday, with shipping giant Maersk set to buy part of the production as a low-emission fuel for its fleet of container shipping sector is under pressure to find new sources of fuel after a majority of countries gave their backing to measures to help meet the International Maritime Organization's targets towards eliminating carbon emissions by far, zero-emission shipping fuels - such as green ammonia and e-methanol - which are produced using renewable energy, have tended to be more expensive than conventional fuel largely because they are not produced at scale."We expect that we will have a price parity with fossil methanol around 2035," Knud Erik Andersen, CEO of Denmark's European Energy, told in Kasso in southern Denmark, the new plant, which has cost an estimated 150 million euros ($167 million), will produce 42,000 metric tons, or 53 million litres, of e-methanol per year, its joint owners Denmark's European Energy and Japan's Mitsui will be a major customer of the Kasso plant. It operates 13 dual-fuel methanol container vessels that can be powered with fuel oil and with e-methanol and has ordered another 13 of the said, the plant's annual production is enough to power one large 16,000 container vessel sailing between Asia and the smaller Laura Maersk, the world's first dual-fuel container ship, with a capacity of more than 2,100 twenty-foot equivalent units, requires only 3,600 tons of fuel per Laura Maersk was scheduled to fuel near Kasso on methanol is typically produced from natural gas and coal. The Kasso plant will make e-methanol using renewable energy and CO2 captured from biogas plants and waste said one of the biggest challenges of switching to sustainable fuel was cost, and it is researching green fuel technologies and more efficient shipping to make the process Energy CEO Andersen said the company has plans to expand the Kasso facility as well as a pipeline of similar plants in Europe, Australia, Brazil and the United addition to its use in shipping, e-methanol can replace fossil methanol in plastic production, meaning it can supply other Danish companies. Drugmaker Novo Nordisk and toymaker Lego will use e-methanol from the plant for making injection pens and plastic elements, respectively.
