The investment is aimed at the construction of facilities and the expansion of production capacity in several countries, including the Netherlands and Estonia, and spread across multiple production sites.
Momentum Global Ventures through its subsidiaries, holds a strategic majority stake in the company and has gradually expanded its position in recent years. One of the projects invested in by Momentum Global Ventures is the development of the world's largest torrefaction reactor, which Perpetual Next very recently announced with technology partner TSI.
The TSI reactor is part of Perpetual Next's biomethanol blueprint, which is currently being rolled out at four production sites in Europe and the United States. This blueprint for large-scale biomethanol production enables rapid, serial scale-up to commercial scale. The blueprint was developed in collaboration with Air Liquide and engineering firm Fluor, among others, and will produce 220,000 tons of biomethanol per year per production site.
This makes Perpetual Next the 100 percent shareholder of the entire portfolio of methanol production sites. This has been achieved without external debt, leaving room for growth financing.
ING Corporate Finance will continue to support the raising of growth capital for the full development of the various sites and the further rollout of the biomethanol blueprint.
In October, of this year Perpetual Next announced that its shareholders have engaged ING Corporate Finance as their trusted financial advisor for the onboarding of strategic partners. Perpetual Next has been collaborating with ING Corporate Finance for two years and is committed to a long-term partnership.
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