Nordic biomethane producer St1 Biokraft has secured a €260 million corporate financing structure from a syndicate of eight European banks to fund its expansion across the Nordics and Northern Europe.
The package, provided by ABN Amro, DNB, ING, Nordea, OP Bank, Rabobank, Sparebank1 and Swedbank, will primarily finance new greenfield biomethane production assets and the continued roll-out of the company's liquefied biomethane (LBG) filling station network. ING acted as sole financial advisor and facility agent.
St1 Biokraft operates an end-to-end business model spanning feedstock sourcing, production, logistics, distribution and sales, targeting heavy transport, maritime and industrial customers.
The company has set production targets of 3 TWh of own biomethane by 2030 and 6 TWh of sales and distribution, backed by planned investments of €1 billion in biogas production and distribution networks across the Nordic region.
Chief executive Miika Johansson said the deal represented "a clear validation" of the company's strategy and described biomethane as "increasingly recognised as a scalable and investable asset class".
St1 Biokraft is majority-owned by HitecVision and St1 Group.
St1 Biokraft secures €260m financing package
