By
42 min ago 2 min read
Leading Nordics biomethane firm St1 Biokraft has secured a €260m corporate financing structure from an eight-bank European syndicate.
The financing supports continued business expansion, covering the full value chain from feedstock sourcing and production to logistics, distribution and sales.
Miika Johansson, CEO of St1 Biokraft, said, “Biomethane is increasingly recognised as a scalable and investable asset class, and we have built a platform with industrial depth across the full biomethane value chain.”
St1 Biokraft has set ambitious targets of 3 TWh of own biomethane production and 6 TWh of sales and distribution by 2030, supported by planned investments of €1bn in biogas production and distribution networks in the Nordics.
Most of the proceeds will be used to finance new greenfield biomethane production assets and the continued roll-out of the LBG filling station network.
The syndicate comprises ABN Amro, DNB, ING, Nordea, OP Bank, Rabobank, Sparebank1 and Swedbank.
The company opened its flagship plant at Mönsterås, Kalmar County, in Sweden .
