Danish renewable energy firm European Energy and Japan’s Mitsui & Co have secured a green-financing bridge facility for their joint venture behind the Kasso e-methanol project in Denmark.

The facility produced its first e-methanol in May 2025 and has a production capacity of up to 42,000 mt/year, the companies said in a press release on Tuesday.

Bridge financing is temporary funding that helps keep a project running while longer-term financing is arranged.

Nordea and SMBC acted as bookrunners and mandated lead arrangers for the transaction, with Nordea also serving as documentation, security and facility agent.

As part of the offtake agreement signed in 2021, European Energy will supply 10,000 mt of e-methanol to shipping company AP Moller Maersk.

“The financing agreement supports operating and financing of e-methanol production in Denmark and contributes to the broader uptake of electrofuels among companies working to reduce emissions,” Jens Peter Zink, Deputy CEO of European Energy, said.