Arcadia eFuels Appoints BNP Paribas as the Capital Raise Financial Advisor for its Greenfield eFuels Project in Denmark
May 22, 2023
Arcadia eFuels appoints BNP Paribas as the capital raise Financial Advisor for its greenfield eFuels project in Denmark, which pioneers decarbonization for the transport sector.
Summary:
- Arcadia eFuels appoints BNP Paribas as equity and debt financial advisor on its first large greenfield project based in Denmark. A highly strategic location of the Vordingborg production facility has been secured close to both feedstock supply and efuels demand.
- Arcadia eFuels is developing an international platform dedicated to produce eFuels derived from hydrogen and biogenic CO2 to address aviation, marine and road transport demand, and support the decarbonisation of these sectors.
- BNP Paribas will support Arcadia eFuels through its strong track-record in advisory and financing of low carbon transition projects. BNP Paribas will start the pre-marketing process for Arcadia eFuels shortly.
CEO and founder Amy Hebert commented: “We are pleased to have selected BNP Paribas as our financial advisor to raise both equity and debt for our first eFuels project in Vordingborg, Denmark. We value BNP Paribas’ reputation and successful track record for these types of decarbonization projects.”
Séverine Mateo, Head of Low Carbon Transition Group at BNP Paribas, added: “We are delighted to be appointed by Arcadia eFuels as financial advisor to assist in raising the necessary capital for the development of the Vordingborg production facility, and help realising this significant step towards decarbonising the airline industry. The energy transition requires innovative companies and significant capital to decarbonise hard to abate industries, and BNP Paribas is committed to accompanying companies and economies on their journey to combating climate change.”
Ulrik Ross, CEO BNP Paribas Denmark, added: “The Arcadia eFuels project is a mile stone in the energy transition process. New technologies being developed and scaled is key to reaching net-zero. The eFuels project in Vordingborg is one of the first of its kind at this scale globally, and plays an important role in leading the way forward and accelerating the transition to a sustainable economy.”
About Arcadia eFuels
Arcadia eFuels is committed to build facilities to produce the world’s future fuels. These net-zero carbon fuels will allow the transportation sector, namely aviation and shipping, to use efuels directly, without changes to existing engines and infrastructure. Arcadia eFuels aims to produce eFuels around the world to help meet the aviation industry’s decarbonization goals. Please visit www.arcadiaefuels.com to learn more or contact us at info@arcadiaefuels.com
About BNP Paribas
- BNP Paribas is the European Union’s leading bank and key player in international banking, with a presence in 65 countries and with one of the world’s best credit ratings (S&P: A+ – Moody’s: Aa3).
- In 2018, BNP Paribas and other banks developed a methodology for measuring and aligning loan portfolios with the goals of the Paris Agreement (Paris Agreement Capital Transition Assessment: PACTA).
- BNP Paribas was one of the first banks to join the Net-Zero Banking Alliance (NZBA), launched in 2021 by the United Nations Environment Programme Finance Initiative (UNEP FI).
- In 2022, BNP Paribas won awards for: World’s Best Bank for Sustainable Finance and World’s Best Bank for ESG data and Technology by Euromoney, Best Bank for Sustainability by IFR, and Americas Bank of the Year by PFI.
- BNP Paribas has a strong track-record in advisory and financing of low carbon transition projects, including the Northvolt Gigafactory and the H2 Green Steel plant (both in Sweden), as well as the Vulcan zero carbon lithium project in Germany.