Kvasir Technologies lands $11.46M Series A round for climate neutral marine fuel
In Denmark, European Energy joins Kvasir Technologies as a new investor and strategic partner alongside EIFO, Mærsk Growth and Footprint Fund. The Series A round provides capital to develop and design a new commercial production plant and scale climate-neutral drop-in fuel to be used in existing vessels.
Danish biofuel startup Kvasir Technologies has raised EUR 10 million in a Series A investment round with participation from European Energy as a new investor, alongside existing investors EIFO, Mærsk Growth and Footprint Fund. The investment will accelerate the scale-up and commercialization of Kvasir Technologies’ climate-neutral marine fuel.
At the same time, European Energy and Kvasir Technologies are entering into a strategic partnership by establishing the company KVEEN Biofuels, which is working towards the construction of a commercial-scale plant to produce biofuels using Kvasir Technologies’ patented technology.
Category: Fuels
