EMEA News
ETFuels E-Methanol Project Gets Finnish Government Agency Support
E-fuels developer ETFuels Finland Oy has secured up to €118.6 million in government support for its planned e-methanol plant in Ranua, Finland.
The funding comes through a clean transition investment tax credit from Finland's government agency, Business Finland, and will cover up to 20% of eligible project costs, ETFuels said in a statement on its website on Monday.
The support will help strengthen financing and advance the project.
The Ranua facility is expected to produce around 110,000 mt/year of e-methanol using renewable electricity and captured carbon dioxide.
The fuel is aimed at supplying European shipping and industrial customers seeking to reduce emissions.
The project is being developed in partnership with Neova Oy, which has supported land development and permitting.
It is currently at the pre-FEED stage of development, according to the firm's website.
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| VLSFO | MGO | |||
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| Global Average Bunker Price | 572.00 | 2.00 | 822.50 | 4.50 |
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