ETFuels achieves significant capital injection from SWEN Capital
Capital injection from SWEN Capital Partners’ SWIFT 2 fund gives ETFuels the opportunity to accelerate towards 2030 goal of 1.4M tonnes of green methanol production for the shipping industry and other end-markets
ETFuels is delighted to announce a significant investment from SWEN Impact Fund for Transition 2 (SWIFT 2), a European impact strategy dedicated to renewable gas infrastructure managed by SWEN Capital Partners, that positions the company ETFuels as a leading Pan-Atlantic producer of green fuels.
ETFuels has developed a unique production model that combines vast renewable energy farms with green fuels production facilities. This model unlocks renewable energy, allowing ETFuels to produce green fuels in a more cost competitive, scalable and sustainable way for their shipping customers, delivering a 91% reduction in emissions compared to heavy fuel oil.
Lara Naqushbandi, CEO of ETFuels commented:
"With the costs of carbon capture, renewables and electrolyzers continuing to fall, ETFuels will play a crucial role in decarbonizing shipping. To enable our vision of energy transition at hyperscale we are delighted to have SWIFT 2 join our existing investor base. SWIFT 2 has demonstrated a pioneering focus on investing in green molecule opportunities since 2019 and we value the trust they have shown in our team."
“We believe in energy transition at hyperscale: no more talking and pilots, but straight to delivering commercial decarbonisation of heavy industry, and huge environmental impact. The world needs genuinely green projects – now – more than ever.
The shipping industry has displayed clear demand signals for green methanol. ETFuels is delighted to heed this call, and to deliver competitively priced, scalable and sustainable fuel for our customers.
We understand the decarbonisation challenges faced by the shipping industry are significant, with question marks over pricing and supply availability at scale, and we are addressing these head-on. Decarbonisation needs to make commercial sense to all parties involved and this concept is enshrined in our core value of sharing benefits across the value chain.
For us, this is purely the beginning: the beauty of our model is the ability to replicate and scale the model across multiple end-products and supply chains to ultimately deliver decarbonisation at hyperscale.”
“Decarbonising the hard-to-abate sectors such as heavy transport has been our mission since 2019. We are strong believers in the ETFuels team's ability to deliver an ambitious pipeline of projects to decarbonize the shipping industry. We are delighted to team up with ETFuels which has assembled strong expertise under Lara Naqushbandi’s leadership and is leading the way of sustainable shipping fuels.” says Olivier AUBERT, Managing Director at SWEN Capital Partners
To help drive ETFuels’ industrial scaleup in both Europe and the US, the company has also recently made key additions to its leadership team, including Patrick Woodson, former CEO and Chairman of E.ON Climate & Renewables and Paulo Amante, a 25 year renewable energy veteran with experience at Airtricity, RES and Island Renewables.
Green Giraffe Advisory acted as financial advisor on the transaction delivering its full suite of fundraising services to the ETFuels team, including preparation of market launch material, preparation of a dedicated financial model and related valuation analysis, sounding of a comprehensive list of relevant investors, and negotiating the transaction documents. A&L Goodbody acted as legal advisors.
ETFuels is currently taking pre-orders for green methanol. For more information on our story, green fuel, potential partnerships, or for the opportunity to join ETFuels’ growing team, please visit www.et-fuels.com.
ETFuels’ vision is to enable Energy Transition at Hyperscale. Our mission is to enable decarbonisation of heavy industry by making commercially attractive green fuels available to customers, at scale, today.
We are pioneering an off-grid green fuel production model, disrupting current approaches to decarbonisation and unleashing the full potential of renewable energy at scale.
Our off-grid model will decarbonise entire economies and supply chains, transforming how energy is produced and distributed, and ultimately how green fuels are produced and consumed.
This is how we deliver net zero, in a way that benefits everyone.
SWEN Capital overview
SWEN Capital Partners is a key player in the field of responsible investment in private markets in Europe. With more than EUR 7.8* billion under management, SWEN Capital Partners offers a wide range of investment programmes for institutional and private clients. The management company integrates ESG criteria into all its asset management activities and has been implementing a corporate climate policy since 2017. In 2019, it strengthened its initiatives for fairer and more sustainable growth by launching a direct equity impact strategy in infrastructure. SWEN Capital Partners is owned by Ofi Invest group (whose main shareholder are entities of the Aéma group: Macif, Abeille Assurances holding, Aésio Mutuelle) and Crédit Mutuel Arkéa, as well as a part of its team.
* Calculated as the amount of total investment.
Green Giraffe overview
Launched in 2010 and with offices in Boston, Cape Town, Hamburg, London, Madrid, Paris, Singapore, Sydney and Utrecht, Green Giraffe Advisory offers bespoke financial advice, market intelligence and development services in all renewable and energy transition technologies.
The full scope of Green Giraffe Advisory services, including development equity, M&A, debt advisory, tender PPA and strategic support, are offered across all renewable and energy transition technologies, including solar, onshore wind, offshore wind, storage and hydrogen.
A&L Goodbody LLP overview
A&L Goodbody is one of Ireland’s largest law firms with a market-leading Energy Transition practice. Its expertise in regulation, new developments, sustainable financing and transactions in both established and nascent technologies, and other low-carbon energy solutions, makes ALG the go-to partner on the island of Ireland in the renewable energy sector.