BioCirc Group
| Date: | 7.7.2025 |
|---|---|
| Country: | Denmark |
| Customer: | BioCirc Group |
| Amount in DKK: | DKK 203 million |
| Amount in EUR: | EUR 27.5 million |
| Maturity: | 9 years |
| Business sector: | Project & Structured Finance |
Project
The loan has been provided for BioCirc to finance the infrastructure and facilities needed to clean and liquefy already captured carbon dioxide to enable its transport and permanent geological storage. The companies will deliver the liquid CO2 to Project Greensand, which will store the CO2 underground in the Danish part of the North Sea.
The Borrower is part of the BioCirc Group, which is owned by BioCirc Group Holding ApS and is one of the largest biomethane producers globally. The group currently operates in three countries and has eight biogas plants. The company was founded in 2021 in Denmark, and this CO2 project is expected to be the second largest carbon capture project in Denmark.
Fulfilment of NIB's mandate
The investment in this BECCS (bioenergy carbon capture and storage) project is significant for the BioCirc Group. The project broadens the group’s offerings to carbon dioxide removal (CDR) certificates. CDR certificates can be sold to other companies in need of reducing their carbon footprint. One CDR certificate represents 1 tonne of CO2 permanently removed from the atmosphere. The group estimates a 30% growth in revenue because of this project.
Productivity impact indicators in relation to the investments:
- CO2 volume for sale in 2028, in tonnes of CO2
- CO2 credit price in 2028, in EUR per tonne
Sustainability summary
BioCirc’s feedstock consists of sustainably sourced biomass, making the biogas production carbon neutral. The project will therefore contribute to the removal of CO2 from the atmosphere.
The CO2 is already separated from the biogas as part of the biomethane production process. Currently, the normal practice in biomethane production is to release the gaseous CO2 into the atmosphere. This loan will finance the facilities and infrastructure needed to clean and liquefy the captured CO2. With storage of 130,000 tonnes of biogenic CO2 annually, the project will produce a positive climate benefit, removing CO2 from the atmosphere. The project will contribute to the achievement of Denmark’s climate targets.
Estimated impacts in relation to the investments:
- 130,000 tonnes of biogenic CO2 permanently stored annually.
Sustainability proofing has been conducted in accordance with the InvestEU Fund requirements, and a summary can be found here.
