Green2X

About Green2X

Green2X A/S is a Danish company that develops, constructs, and operates large-scale facilities to convert natural leftovers, primarily straw, into bioenergy. The company originated from Vordingborg Biofuel, which was founded in March 2020. In August 2022, the parent company Green2X was established to reflect global ambitions, with Mikkel Sjølin Kiil appointed as CEO in November of the same year.

Green2X utilizes a patented process that begins with compressing straw into briquettes, which then undergo a fast fermentation process to produce high yields of biogas. This biogas, a mix of methane and CO2, can be supplied directly to the gas grid or upgraded into advanced biofuels like biomethane and bio-methanol. These green fuels are intended for sectors that are difficult to decarbonize, such as heavy road transport and shipping. The company's technology is designed to be scalable and can utilize various types of biomass, although the primary feedstock is straw from agricultural crop production.

The business model involves developing, building, and operating these biofuel plants globally. Revenue is generated through long-term offtake agreements for its products. For instance, Green2X has signed a significant partnership with ReFuels to supply biomethane to the UK road transport sector. The company also forms partnerships for the supply of renewable energy needed in its production process, such as the agreement with Copenhagen Energy.

The first flagship project is Vordingborg Biofuel, located at the Port of Vordingborg in Denmark. This plant, expected to be operational between late 2027 and early 2029, is projected to be one of the world's largest, producing over 175 million cubic meters of biomethane annually. To facilitate this development, the company has secured over 100 million DKK in investment from partners including the Norwegian energy giant Equinor and the Danish state's investment fund, Eifo. Green2X is also expanding internationally, with plans for a similar large-scale plant in Malmö, Sweden, in partnership with Copenhagen Malmö Port (CMP), expected to be completed by 2030.