DLA Piper Advised C2X On USD100 Million Investment By ENEOS Corp, A.P. Møller Holding And A.P. Møller – Mærsk
DLA Piper Advises C2X On USD100 Million Investment By ENEOS Corp, A.P. Møller Holding And A.P. Møller – Mærsk
The proceeds will be used to fund the final development phase of the Beaver Lake Renewable Energy project
Global law firm DLA Piper has advised C2X Ltd, a leading developer of green methanol projects, on a USD100 million combined investment by ENEOS Corporation, Japan’s leading energy company, and C2X's existing shareholders, A.P. Møller Holding and A.P. Møller – Mærsk.
It is a collaboration between C2X and SunGas Renewables Inc. and will support the expansion of C2X's global green methanol portfolio, including projects in Spain, Egypt and other locations in the US.
The proceeds will primarily be used to fund the final development phase of the Beaver Lake Renewable Energy project in the State of Louisiana.
Beaver Lake will produce over 500,000 tonnes of green methanol per annum, utilizing SunGas’ industry-leading S-1000 gasification system to convert biomass into low-carbon methanol. It will capture and permanently sequester one million tonnes of surplus biogenic carbon dioxide (CO₂) annually from the gasification process and generate high-quality and cost-competitive CO₂ removal credits.
Speaking on the development, Dr. Benjamin Parameswaran, C2X's relationship partner, stated, “We are delighted to advise on this pivotal investment, which will accelerate the development of the Beaver Lake project and strengthen C2X's position as a global leader in the green methanol sector. The transaction highlights DLA Piper's market-leading capability in complex cross-border transactions and our role as a strategic partner to clients driving the energy transition.”
The transaction was led by Corporate Partners Tracey Renshaw and Paul Doris.
They were supported by Senior Associate Freddie De Boise and colleagues from the firm’s offices in the UK, the US, Japan and Spain. The team included Tracey Renshaw, Benjamin Parameswaran, Paul Doris and Freddie De Boise.
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