ENEOS and Maersk Boost C2X with $100 Million Green Methanol Investment

Maersk recently launched another dual-fuel methanol boxship in Rotterdam. Image Credit: AP Moller Maersk

Japanese energy firm ENEOS has joined forces with AP Moller Holding and AP Moller – Maersk in a $100 million investment in C2X, strengthening the push for large-scale green methanol production.

The funding will support the Beaver Lake Renewable Energy (BLRE) project in Louisiana, which will produce 500,000 mt of green methanol annually, C2X said in a statement on its website on Wednesday.

The facility, developed by C2X in partnership with SunGas Renewables, will convert biomass into methanol while capturing and permanently storing 1 million tonnes of CO2 per year, generating carbon credits.

For Maersk, which has already ordered more than 25 methanol-powered vessels, this investment ensures long-term access to green methanol.

Maersk is expected to sign long-term offtake agreements with C2X, securing a steady supply to power its current and upcoming methanol fleet.

C2X is also seeking other customers with methanol ships for potential offtake.

Meanwhile, ENEOS views this investment as a strategic step to expand its low-carbon energy portfolio, with potential methanol offtake agreements and the integration of SunGas’ gasification technology into its energy ecosystem.

"With Maersk as an offtaker and ENEOS as a strategic partner, we are accelerating the journey to low-carbon fuels," Brian Davis, CEO of C2X, said. 

Construction of the Louisiana plant is expected to begin in the second half of 2026, with operations from the end of 2028.

Beyond BLRE, the investment will also support C2X’s projects in Spain, Egypt, and the US, further scaling global green methanol production.

The deal is subject to regulatory approvals and customary closing conditions.