Release date: 28 February 2024
Promoter – Financial Intermediary
OERSTED A/SLocation
Description
The design, construction and operation of the FlagshipONE industrial facility that will produce renewable electro-methanol (e-methanol) from electricity and waste CO2. The plant will be located in Örnsköldsvik in Northern Sweden, and will have the capacity to produce ca. 55 kt/y of e-methanol per annum, to be used as green fuel for the shipping industry.
Objectives
The Bank's involvement aims to support the first commercial demonstration of the power-to-methanol concept.
Sector(s)
- Industry - Manufacturing
Environmental aspects
The Project falls under Annex I of the Environmental Impact Assessment (EIA) Directive 2014/52/EU amending 2011/92/EU, requiring an EIA. The Promoter will be requested to comply with applicable national and EU legislation.
Procurement
The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the promoter is subject to the EU public procurement legislation, then the Bank would duly inform the Commission Services and would require the promoter to apply those rules
Status
Approved - 23/11/2023
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).