Hamburg-based Marquard & Bahls has acquired a stake in Nordic Blue Crude – a major player in the power-to-liquid sector – and in doing so has expanded its renewable energy portfolio.
Nordic Blue Crude is in the process of establishing the first (publicly-known) power-to-liquid project on an industrial scale. This will both provide Crude with first mover advantages and enable further expansion.
The Norwegian company’s first E-Fuel 1 plant is currently being engineered in Herøya. This has a production capacity of 10 million litres of synthetic hydrocarbons per year, using renewable electricity, water and CO2 as feedstocks.
After it reaches full production capacity, which is projected to be in 2022, there will be further room for expansion to the tune of 100 million litres. After the refining step, the product mix will consist of kerosene, diesel, wax and naphtha.
The company it said it is now “actively exploring investment opportunities in the renewable energy sector as a result of the rapidly changing energy landscape”, and went on to add that it intends to become “an active member of the energy transition”.
Mark Garrett, CEO of Marquard & Bahls, said: “We intend to further diversify our portfolio and increase our commitment to renewable energies …our investment in Nordic Blue Crude is an important first step in this direction. The project is the first of its kind for us, but others will follow if the right opportunities arise.”
For more information visit www.marquard-bahls.com