Renewable energy solutions provider European Energy has entered a joint venture with multi-family office Maigaard & Molbech to acquire Vinkel Bioenergi, a Danish biogas producer, on behalf of private investor Bo Bendtsen.
The agreement will see Vinkel Bioenergi and its employees become part of a wholly-owned subsidiary of the new joint venture holding company BioCirc ApS (BioCirc).
Vinkel Bioenergi is one of Denmark’s largest biogas producers, converting more than 400,000 tonnes of biomass per year into green and carbon dioxide (CO2)-neutral gas, in addition to delivering up to 6,000 Nm3 (normal cubic metre) of natural biomethane per hour to the Danish natural gas network.
Considered the first step in the formation of the BioCirc group, Bertel Maigaard, Managing Director, Maigaard & Molbech, stated that the aim of the acquisition is to help make BioCirc a leading bioeconomic group focusing on recycling, waste-to-energy, renewable energy and power-to-x.
“BioCirc will contribute to a more sustainable future for the agricultural industry, and we are very happy and proud that we have succeeded in taking the first step with the acquisition of Vinkel Bioenergi,” he added.
The company will also be integrated into the new owner’s supplier network to assist with the production of e-methanol.
Knud Erik Andersen, CEO, European Energy, explained, “Biogenic CO2 is an important component of e-fuels that can de-carbonise sectors such as heavy transportation and aviation.”
“European Energy will make use of the CO2 that would otherwise be released to the atmosphere from the production of biogas at Vinkel Bioenergi in the production of e-methanol.”
The e-methanol will be supplied to companies such as Maersk and Circle K.