DLA Piper has advised C2X LTD (C2X), a leading developer of green methanol projects, on a USD100 million combined investment by ENEOS Corporation, Japan’s leading energy company, and C2X’s existing shareholders, A.P. Møller Holding and A.P. Møller – Mærsk.

The proceeds of this strategic investment, which is subject to customary closing conditions, will primarily be used to fund the final development phase of the Beaver Lake Renewable Energy project (the BLRE Project) in the State of Louisiana – a collaboration between C2X and SunGas Renewables Inc. (SunGas) – and to support the continued expansion of C2X’s global green methanol portfolio, including projects in Spain, Egypt and other locations in the US.

Once operational, the BLRE Project is expected to produce over 500,000 tonnes of green methanol per annum, utilising SunGas’ industry-leading S-1000 gasification system to convert biomass into low-carbon methanol. It is also expected to capture and permanently sequester approximately one million tonnes of surplus biogenic CO₂ per year from the gasification process and to generate high quality and cost-competitive carbon dioxide removal (CDR) credits.

Dr. Benjamin Parameswaran, C2X’s relationship partner, commented: “I’m delighted we have advised on this pivotal investment, which will accelerate the development of the BLRE Project and further strengthen C2X’s position as a global leader in the green methanol sector. This transaction highlights DLA Piper’s market-leading capability in complex cross-border transactions and our role as a strategic partner to clients driving the energy transition.”

The transaction was led by Corporate partners Tracey Renshaw and Paul Doris, supported by Senior Associate Freddie De Boise and colleagues from across our offices in the UK, the US, Japan and Spain.