- ENEOS and C2X Partner to Advance $100M Green Methanol Push.
- ENEOS Joins C2X to Accelerate Beaver Lake Renewable Energy Project.
- C2X Secures $100M Investment from ENEOS, Maersk and A.P. Møller Holding.
Japan’s largest energy company, ENEOS Corporation (ENEOS), and green methanol project developer C2X LTD (C2X) have agreed to a joint investment to develop the Beaver Lake Renewable Energy (BLRE) project in Louisiana and add it to C2X’s portfolio of global green methanol projects, reports ENEOS.
$100 Million Investment Led by ENEOS and Existing Shareholders
ENEOS, in conjunction with current shareholders A.P. Møller Holding and A.P. Møller – Mærsk (“Maersk”), will commit a total of $100 million to C2X. The deal is set on customary closing conditions, including relevant regulatory approvals.
Providing Capital for the Last Stage of BLRE’s Development
The capital will be used mainly to finance the last development stage of the BLRE project, a joint venture between C2X and SunGas Renewables Inc. in Alexandria, Louisiana. When operational, the project will produce more than 500,000 tonnes of green methanol annually.
Negotiations are underway to obtain long-term offtake contracts with Maersk and other clients in the shipping, chemicals, and industrial markets.
Technology and Sustainability Features
BLRE will use SunGas’ S-1000 gasification system to gasify biomass into low-carbon methanol. The plant will also capture and permanently sequester about 1 million tonnes of excess biogenic CO₂ per year from the gasification process, allowing for the production of high-quality carbon dioxide removal (CDR) credits.
Economic and Environmental Impact
This multibillion-dollar development aims to begin construction in the second half of 2026. It will generate hundreds of direct and indirect employment opportunities and assist the regional forestry sector by using biomass that had been utilised by closed paper mills.
Growing Global Portfolio
Beyond BLRE, the investment will fund the growth of C2X’s overall project portfolio, including projects in Spain, Egypt, and other US sites.
Strategic Partnership and Shared Vision
“We truly appreciate the continued support of our existing shareholders, and we welcome our new partner, ENEOS, as a significant shareholder in C2X. ENEOS will enable us to accelerate the journey to low carbon processes for multiple markets and industries. ENEOS’ market position, industry relationships and technological capabilities will add significant value to C2X’s portfolio. Our collaboration represents not only a strategic partnership but also a shared vision for a more sustainable future.” said Brian Davis, CEO of C2X
“We are eager to partner with C2X, a pioneer in green fuels with extensive expertise in this field and a globally competitive portfolio. We have been impressed by the C2X team and its choice of SunGas’ leading gasification technology system to underpin the commercially competitive and economically attractive BLRE project. Together, this new strategic partnership will enhance ENEOS’ low carbon activities to develop a world scale business producing and marketing green molecules globally.” said Satoru Otatsume, General Manager, Low Carbon Solutions Department, ENEOS
Wider Collaboration
ENEOS’ investment involves a strategic collaboration with C2X, including possible methanol offtake and incorporation of SunGas’ gasification technology into ENEOS’ systems platform. Morgan Stanley served as the sole financial advisor and placement agent to C2X on the capital raise.
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Source: ENEOS
