Arcadia eFuels appoints BNP Paribas as financial advisor
Arcadia eFuels has appointed BNP Paribas as its financial advisor for its greenfield Sustainable Aviation Fuel (SAF) and other renewable fuels project in Vordingborg, Denmark. The international bank will assist Arcadia in raising capital for its new low-carbon fuel production facility.
BNP Paribas will act as the company’s equity and debt financial advisor on what is Arcadia’s first large greenfield project. Séverine Mateo, head of Low Carbon Transition Group, BNP Paribas said that if successful, the production facility will be a significant step towards decarbonising the airline industry.
“The energy transition requires innovative companies and significant capital to decarbonise hard-to-abate industries, and BNP Paribas is committed to accompanying companies and economies on their journey to combating climate change,” said Mateo.
Arcadia’s production facility has been secured close to both feedstock supply and renewable fuel demand, with the aim of accelerating the development of fuel derived from hydrogen and biogenic CO2.
“We are pleased to have selected BNP Paribas as our financial advisor to raise both equity and debt for our first eFuels project in Vordingborg, Denmark,” said Amy Herbert, CEO and founder Arcadia eFuels. “We value BNP Paribas’ reputation and successful track record for these types of decarbonisation projects.”
Ulrik Ross, CEO BNP Paribas Denmark, added that technologies developed and scaled by the likes of Arcadia eFuels are key to reaching net zero targets in the aviation industry. “The eFuels project in Vordingborg is one of the first of its kind at this scale globally and plays an important role in leading the way forward and accelerating the transition to a sustainable economy,” said Ross.
BNP Paribas will start the pre-marketing process for the Arcadia eFuels project in the second half of 2023.