2021-04-30 15:51News

30 April, 2021

Mundus Nordic Green News

Denmark submits EU recovery funding application

Denmark will use 60% of the DKK 11.6 billion it receives from the EU's corona fund for investments in the climate, significantly more than the requirement of 37%. Finance Minister Nicolai Wammen said that the investments will help companies and stimulate the economy. At the same time, the initiatives will contribute to meeting Denmark's ambitious, green goal of reducing greenhouse gas emissions by 70% by 2030. (Microsoft News)

Norwegian consortium to invest in the hydrogen fund AP Ventures Fund II to accelerate the Norwegian hydrogen economy

Nysnø Klimainvesteringer (New Snow), a government investment company that invests in companies and funds with technology for reduced greenhouse gas emissions, Equinor Ventures and Yara Growth Ventures will be the first Norwegian investors in AP Ventures Fund II, a London-based fund. 

AP Ventures invests globally in the entire value chain for hydrogen, from production to transport, storage and use. The fund sees Norway as a strategic focus area for both green and blue hydrogen, and business models for capturing, storing and using CO2. This is largely due to the availability of hydropower, carbon capture, use and storage options. AP Ventures has already invested in the Norwegian technology companies ZEG Power and Hystar. ZEG Power produces blue hydrogen with integrated carbon capture, and Hystar produces green hydrogen with PEM electrolysis.

Following the Norwegian investment the total fund size is $334 million. Existing investors are Anglo-American Platinum, Implats, Mirai Creation Fund, Mitsubishi Corporation, Plastic Omnium, Public Investment Corporation and Sumitomo Corporation.(press release)

Denmark announces plan to reduce agricultural emissions

On Wednesday, the Danish government presented further proposals for how agricultural emissions of CO2 should be reduced by 7.1Mt by 2030. In addition to measures already announced worth 0.5Mt p.a., new measures equivalent to 1.6MT p.a. were communicated. Amongst these initiatives, it is planned that at least 88,500 hectares of low-lying land and peripheral areas will be set aside for wetlands.

In addition, the government advised that a further 5.0 Mt p.a. of emissions still needed to be reduced utilizing technologies still under development. The government will allocate more than DKK 700 million to green research and development in the field of agriculture.

In response to concerns that the government had gone soft on agriculture, the Minister of Food, Agriculture and Fisheries, Rasmus Prehn, said that the government was concerned about bankruptcies if it went too hard. Denmark’s Climate Council says it is skeptical of the government's confidence in developing new technology. (Politiken, Politiken)

New Danish biogas plant to be built

Danish-Norwegian company NXT Green Energy A/S, will build one of Scandinavia's largest plants for the production of liquefied natural and biogas at the Port of Hirtshals.

Jens Peter Lunden, who is CEO. director and partner of NXT Green Energy commented, “Liquid biogas is the only realistic means of achieving the climate goals for the transport sector in Denmark and in the EU. This is emphasized in the EU's Green Deal, and this has been realized in Germany, among other places, where long-distance lorries in particular are now in the process of switching from diesel to liquid biogas. A conversion of 10,000 trucks from diesel to liquid biogas provides the same positive climate result as electrification of 250,000 private cars, and therefore liquid biogas has a major effect on the climate accounts.” The Norwegian shipping company Fjord Line is the main shareholder in NXT Green Energy. The company has been working on green conversion for a number of years, and today half of the company's ships sail on liquefied natural gas. (FiskerForum)

First delivery of bio-aviation fuel to Skellefteå

Skellefteå municipality is one of the first municipalities in the country to have made the decision to reduce the climate of domestic flights by using fossil-free aviation fuel. Skellefteå municipality is in strong development with the establishment of the battery factory Northvolt and a number of other private and public investments. The development in Skellefteå municipality requires good accessibility to the outside world and access to infrastructure within all modes of transport is therefore crucial. The first shipment of fossil-free aviation fuel was delivered to Skellefteå Airport. The delivery means the starting shot to be able to offer the public sector, business and private individuals the opportunity to fly with reduced climate impact from Skellefteå Airport. (Dagens Infrastruktur)

About Nordic Green News

The Nordic countries are some of the most dynamic and successful economies in the world. They are also leaders in sustainability, from renewable energy, biofuels, carbon capture and storage and the hydrogen economy, circular economy business models and battery development, the Nordics are pioneers in policy design, technology development and consumer uptake. Mundus Nordic Green News is covering this transition for the international community. Every day we clip the stories of most relevance to international businesspeople and policy experts from the flow of news. We supplement these with our own opinion pieces and commentary, in English.