ENEOS comes onboard Maersk-backed green methanol project

Green methanol provider C2X has secured $100m in further investment from A.P. Møller Holding, A.P. Møller – Mærsk and Japanese energy company ENEOS. 

The proceeds from the investment will primarily be used to fund the final development phase of the Beaver Lake Renewable Energy (BLRE) project which C2X is developing together with SunGas Renewables in Alexandria in the state of Louisiana. Once operational, BLRE will produce over 500,000 tonnes of green methanol per annum and is in discussions to secure long-term offtake from Maersk and other customers in the shipping, chemicals and industrial sectors. 

The project will use SunGas’ gasification system to convert biomass into low-carbon methanol with construction slated to start in the second half of 2026.

This new $100m  investment will also be used to advance the rest of C2X’s portfolio comprising projects in Spain, Egypt, and other US locations.

“We truly appreciate the continued support of our existing shareholders, and we welcome our new partner, ENEOS, as a significant shareholder in C2X. ENEOS will enable us to accelerate the journey to low-carbon processes for multiple markets and industries,” said Brian Davis, CEO of C2X.