MHS Corporate Finance acted as financial advisor to HOFOR, the largest Greater Copenhagen’s public utility, in entering a strategic partnership with Elimini, a carbon removal expert with a mission to remove carbon for good, on BECCS Project.
The strategic partnership encompasses the development of a large-scale bioenergy with carbon capture and storage (BECCS) facility at Amagerværket in Copenhagen – which will be a DKK multi billion investment.
The strategic collaboration will cover the development of the BECCS facility, with the aim of entering into a Joint Venture Agreement to transform Unit 4 (AMV4) at the site to capture CO2 and generate high-quality, verified carbon removal credits (CDRs) in addition to renewable electricity and heat.
By supporting the deployment of reliable renewable electricity and removing CO2 from the atmosphere, the partnership will play an important role in enabling Denmark to achieve its carbon removal and broader climate targets while stimulating both job creation and economic growth.
Elimini is a development partner for the project in this first stage, using its expertise in BECCS to support HOFOR with the project and marketing for the carbon removal credits. Following further project evaluation, and subject to agreement by both Elimini and HOFOR, the parties will explore the potential formation of a joint venture.
For more information about the partnership, please visit here.
About HOFOR
HOFOR A/S is Denmark's largest local supplier, providing water, heat, city gas, district cooling and wastewater disposal for more than 1 million people in the capital area. HOFOR builds wind turbines and solar parks that deliver energy for a greener Denmark. Together with eight
owner municipalities, HOFOR creates sustainable cities with a focus on cloudburst projects, energy optimization and the development of future supply solutions. HOFOR has over 150 years of experience, 1,600 employees and an annual turnover of more than DKK 7 billion.
About Elimini
Elimini exists to remove carbon for good. The company has an ambition to be the world's leading carbon removal company and to transform the carbon removals market through the deployment of bioenergy with carbon capture and storage (BECCS) technology at scale. By working with partners across its value chain, Elimini aims to permanently remove carbon from the atmosphere while generating 24/7 renewable, reliable power. Elimini is a wholly owned subsidiary of UK-based Drax Group, a global energy company that’s been pioneering decarbonization projects for decades.
