Multi-million investment for alternative fuels developer

Denmark-based renewable energy company Biogasol has confirmed receiving a new multi-million cash injection.

A €10 million ($12.7 million) grant allocated by the Energy Technology Development and Demonstration Programme (EUDP), while another €5 million has been added through new equity financing. The money will be used to build support and production of Biogasol’s pre-treatment reactor design.

The equity financing was provided as a co-investment by the current majority shareholder Fjord Capital Partners and Danish pension fund Unipension.

‘We have been working on perfecting our reactor for the past six years. We believe it forms an essential pre-treatment stage in any production line set up for the conversion of lignocellulosic materials into alternative fuels,’ says Biogasol CEO Anders Weber.

The EUDP is part of the Danish Energy Agency.