Terms
- Announced
- 2 Aug 2023
- Instrument
- Equity
- Amount
- US$12.5m
- Source
- mashmakes.com
Parties
- Project developer
- MASH Makes A/S
- Recipient type
- Technology company
- Country
- Denmark
- Capital providers
Capital providers and the amount counted for each Party Role Amount Basis Dampskibsselskabet NORDEN A/S Investor US$12.5m Sole provider: the whole transaction
Carbon
- Pathway
- Biochar
What happened
- A minority stake acquisition the company describes as its Series A. NORDEN’s own announcement discloses no figure. One trade outlet reports EUR 12.5m; the company states USD 12.5m, so the company figure stands and the contradiction is recorded. An attached bio-oil offtake at favourable pricing is a fuel offtake, not a carbon credit offtake.
Kumo note
- A dry bulk shipowner took a minority equity stake in its own future fuel supplier, pairing the investment with an offtake for bio-oil at favourable pricing. The biochar is the durable removal, but the capital was advanced for access to the fuel.
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