Marquard & Bahls is to increase its shareholding in Nordic Blue Crude. It has entered into an agreement with the Norwegian company committing to equity financing when the E-Fuel 1 plant reaches final investment decision.
Nordic Blue Crude is to build an E-Fuel plant at Herøya industrial park in Porsgrunn, 150 km southwest of Oslo, Norway. The design capacity is 10 million litres of carbon-neutral fuels and waxes. Its E-Fuel plants will have a capacity of 200 million litres each.
Power-to-Liquid (PTL) company Nordic Blue Crude combines green hydrogen produced with Norway’s renewable hydropower and CO2 from point source emissions (waste burning plants, biofuel plants, and other industrial processes with unavoidable emissions).
Mark Garrett, CEO of Marquard & Bahls, said: “By increasing our participation in Nordic Blue Crude, Marquard & Bahls takes an important step on the company’s commitment towards a greener future for fuels. Nordic Blue Crude team is showing us their ability to bring this project into life, and I am confident about our positive contribution to the success of the business.”
For more information visit www.marquard-bahls.com