Finland – Allianz Capital Partners has agreed to buy a minority stake in Ren-Gas, the leading Nordic green hydrogen and power-to-gas project developer based in Finland.
The company was founded in 2021 with the intention of creating a decentralized power-to-gas portfolio, initially in Finland with possibilities for expansion throughout the rest of Europe. Ren-Gas will receive investment from Allianz in the amount of EUR 25 million, which will help the company execute its project portfolio and grow its business. With a previously agreed-upon structure, Allianz will take a minority stake in Ren-Gas and invest in the company’s project portfolio.
Synthetic renewable methane
Renewable synthetic methane, produced at Ren-Gas plants by combining carbon dioxide capture technology with green hydrogen, is their primary output. Ren-Gas will electrolyze clean hydrogen using renewable energy from nearby wind farms. The captured biogenic CO2 from district heating plants that mostly use renewable fuels is then combined with the green hydrogen through a second methanation process, and extra process heat is returned to the district heating network.
Synthetic renewable methane can be utilized as fuel for heavy-duty vehicles, ships, and other industrial applications because its chemical makeup is comparable to that of biomethane or natural gas. Overall, the procedure produces renewable methane from water, wind energy, and CO2 that has been captured.