- Mitsui acquires 49% equity in MidCo, an affiliate of European Energy A/S.
- Kasso's e-methanol production will start in 2024, producing up to 42,000 tons annually.
- Facilities include a 304MW photovoltaic power generation plant, the largest in Northern Europe.
- Sales agreements are in place with A.P. Moller - Maersk, LEGO Group, and Novo Nordisk.
Investment and Partnership
Mitsui & Co., Ltd. has acquired a 49% equity interest in Kasso MidCo ApS, an affiliate of European Energy A/S. This partnership focuses on solar power generation and e-methanol production through Kasso, a wholly owned subsidiary.
e-Methanol Production
Kasso's e-methanol is produced by synthesizing green hydrogen, generated from renewable electricity, and green carbon dioxide captured from biomass sources. This low-carbon methanol is expected to see significant demand growth as an environmentally friendly fuel and chemical raw material.
Production Capacity and Facilities
Kasso's e-methanol business is the world's largest and first commercialized effort, with an annual production capacity of up to 42,000 tons. The facilities include a 304MW photovoltaic power generation plant, the largest in Northern Europe, and are currently constructing a water electrolyzer and e-methanol factory. Production is scheduled to commence in 2024.
Sales Agreements
Kasso has secured sales agreements with leading Danish companies, including shipping and logistics company A.P. Moller - Maersk A/S, the LEGO Group, and pharmaceutical company Novo Nordisk A/S.
Strategic Goals
Mitsui aims to leverage its expertise in chemicals, renewable energy, and shipping to enhance the competitiveness of the Kasso business. This investment aligns with Mitsui's Medium-term Management Plan 2026, which designates Global Energy Transition as a key strategy. Mitsui views e-methanol as a viable option in building a next-generation fuel value chain and aims to strengthen its supply capability of low-carbon methanol, contributing to sustainable development.
