Nefco’s €6 million Vegger loan and Denmark’s biogas financing routes
Nefco announced the agreement on 19 October 2026. The disclosed structure combines lending through Fremsyn’s group with other financing and existing Danish Energy Agency support.[1]
€6 million loan.
Biogem A/S, Fremsyn’s trading subsidiary; funds are channelled through the group.
Acquisition and modernisation of Vegger, including upgrading, grid connection, CO₂ capture and hydrogen-based methanation.
Other financiers participate; the Danish Energy Agency supports an electrolysis-integration component, for demonstrating electrolysis integration.
Annual biogas production rises from approximately 37 GWh to as much as 52 GWh.
Capacity of up to 5,000 tonnes annually.
Long-term Swiss customer agreement, with Guarantees of Origin and volumes reaching 48 GWh annually from late 2027.
Full completion expected in 2028.[1]
EIFO provides the closest domestic equivalent to Nefco’s financing. NIB and Nefco are Nordic institutions accessible to Danish borrowers; they are not Danish national subsidy programmes.
Commercial loans: creditworthiness and co-financing determine access
EIFO amounts are DKK-denominated: Vækstlån from DKK200,000 with no published maximum; green loans carry no fixed project-level ceiling.
EIFO green loans and guarantees
Renewable-energy facilities, energy efficiency and resource efficiency. Eligible borrowers include private companies and qualifying public entities able to borrow commercially. EIFO assesses commercial viability and environmental contribution.
DKK8 billion overall mandate, continuing the former Danish Green Investment Fund’s activities. Senior or subordinated loans and guarantees, secured or unsecured, on market terms; maturity up to 30 years. The 60% financing ceiling applies across the portfolio, not as an entitlement for each project. The current regulation contains no fixed project-level amount ceiling.[2]
EIFO growth loans — Vækstlån
Companies needing investment capital beyond available bank financing. Positive equity and creditworthiness required. Normally a maximum of 499 employees, with financial-size thresholds and specific innovation exceptions.
DKK200,000 upwards, without a published maximum; EIFO’s contribution is 50% of the total financing need. Up to 10 years, with an initial two-year repayment grace period. CIBOR-linked, individually risk-priced lending; security and intercreditor arrangements are assessed case by case.[3]
Nordic Investment Bank — NIB
Larger investments with environmental or productivity benefits. Public and private borrowers; assessment covers credit quality, sustainability and project execution. Relevant to construction, expansion and associated CO₂ infrastructure.
Direct loans normally start at €10 million, generally cover up to 50% of project costs, and normally run for 5–30 years. Market-based pricing; structured, limited-recourse and non-recourse financing can be available. An InvestEU guarantee supports eligible lending but is not an additional cash grant.[4]
Nefco green loans
Nordic SMEs with an established commercial record and proven technology, generally TRL 8–9. Projects within the Nordics need strong demonstration value and international scaling potential.
Detailed guidance describes €2–5 million as typical, with larger amounts possible; its financing overview advertises €2–10 million. Pricing, security, tenor and repayment are negotiated individually. The borrower must demonstrate financial viability and measurable environmental benefits.[5]
Grants: support attaches to eligible activities within the project
EUDP and MUDP co-finance defined activities without a published per-project range.
EUDP — Energy Technology Development and Demonstration Programme
Development and demonstration of innovative energy technologies, including methanation, feedstock conversion and integration with other energy processes. Danish CVR-registered companies, research institutions and qualifying public bodies can apply; foreign partners may participate under a Danish lead. Commercialisation and scalability must be demonstrated.
Competitive co-financing of defined development activities, with own financing demonstrated. The 2026 second-round pool was DKK240 million, shared with Green Labs DK and IEA activities — not reserved for biogas. Its September deadline had passed; decisions were expected in December 2026.[6]
GUDP — Green Development and Demonstration Programme
Innovation serving agriculture and the food-sector value chain. Relevant activities include agricultural feedstocks, digestion optimisation, nutrient recovery and digestate management. Projects must combine environmental benefits with commercial potential.
Development and demonstration grants of DKK250,000–15 million, for projects lasting up to five years. Funding rates depend on participant size, activity and applicable state-aid rules. It is not a general construction subsidy for energy plants.[7]
MUDP — Environmental Technology Development and Demonstration Programme
Development, testing and demonstration addressing environmental problems. Relevant applications include methane-loss reduction, wastewater digestion, ammonia recovery and resource efficiency.
DKK130 million available for projects in 2026 across environmental themes. Separate routes cover feasibility, verification, development and flagship demonstrations. Awards finance the environmental-technology project; they do not automatically cover the host plant’s wider investment.[8]
Danish Just Transition Fund — Fonden for Retfærdig Omstilling
CCUS, Power-to-X and pyrolysis development, investment and skills activities benefiting North and South Jutland. Companies of different sizes and public/research partnerships may qualify.
The 2025 call offered up to DKK250 million, normally DKK5–40 million per application, with support up to 80%, subject to state-aid limits. It closed on 10 October 2025, followed by awards in January 2026. This is geographically restricted, call-based finance.[9]
Innovation Fund Denmark
Earlier-stage research commercialisation, entrepreneurship and business–university research. Relevant routes include Innoexplorer, Innofounder and Industrial Researcher.
Innoexplorer provides DKK0.5–1.5 million to mature research-based business ideas from public institutions. Other programmes have distinct applicant and co-financing requirements. Recent methane-related awards include founder support and an industrial PhD; these finance technology and business development rather than commercial plant construction.[10]
Production support: existing rights remain distinct from new investment finance
Denmark’s legacy biogas support schemes closed to new entry around 2020, with connection and application deadlines governing eligibility. Existing support rights and production limits remain relevant to incumbent plants, including some conversions from combined heat and power to upgrading. A loan or investment grant does not itself confer those operating-support rights.[11]
The proposed competitive support tenders for biogas and other green gases remain outstanding. Their assumed production contribution from 2027 is not evidence of an opened tender or awarded support.[12]
The transactions below finance different uses of capital. Tønder and Sindal receive plant-specific loans; BioCirc’s equity strengthens group financing; Bigadan’s transaction finances an ownership acquisition. Vinkel’s facility also covers solar investment, while BioCirc’s NIB loan finances CO₂ infrastructure.
Tønder Biogas
Tønder Biogas A/S; CIP Advanced Bioenergy Fund I. Construction and operation of a gas-to-grid plant exceeding 41 million Nm³ methane annually.
DKK250 million / €33.5 million — NIB
16-year loan. Dedicated plant financing; rate and security undisclosed.[13]
BioCirc group investment programme
BioCirc Group Holding. Capital supporting group development, including Vinkel expansion, solar integration and CO₂ infrastructure.
DKK331.895 million — existing shareholders
Two equity capital increases. Group-level capital, without a published allocation to each asset; the final amount exceeds the initial DKK300 million announcement.[14]
Vinkel Biogas expansion and Vinkel Solar Park
BioCirc. Joint financing of biogas expansion and the associated solar investment.
DKK250 million — external financier(s), unnamed
Project debt. The disclosed amount cannot be allocated entirely to biogas. Tenor, pricing and security undisclosed.[14]
BioCirc five-plant CO₂ programme
BioCirc Group. CO₂ purification, liquefaction and transport infrastructure associated with five Danish biogas plants, enabling permanent geological storage.
DKK205 million / €27.5 million — NIB
Nine-year loan, supported by InvestEU. Finances carbon-removal infrastructure; it should not be reported as additional biomethane-production capacity.[15]
North Sky / Danish biogas expansion
Skovgaard Energy and Sumitomo. Expansion of Danish biogas operations and development of an integrated biogas/e-SAF business.
Undisclosed — Sumitomo and Skovgaard Energy
Joint-venture equity participation. No public plant-by-plant capital allocation or confirmation of financing for the entire future e-SAF development.[16]
Bigadan platform investment
Arjun Infrastructure Partners, through Infrastructure Alliance Europe 3. Increased ownership of Bigadan’s Danish biogas platform.
Equity consideration undisclosed; €67 million acquisition financing confirmed by lender’s counsel
Corporate acquisition finance. Lender and debt terms undisclosed. Bigadan’s planned CHP-to-grid conversions and CCUS expansion are not separately quantified within this transaction.[17]
Green2x Møn pilot
Green2x. Straw-to-biogas pilot development and validation ahead of potential commercial deployment.
More than DKK100 million — Equinor, EIFO and other investors
Equity financing. This supports the Møn pilot; it does not establish financial close for the proposed full-scale Vordingborg facility. Valuation and individual investor terms undisclosed.[18]
Sindal Biogas expansion
Sindal Biogas A/S; CIP Advanced Bioenergy Fund I, KK Invest and DBC Invest. Expansion from approximately 22 million to 44 million Nm³ biomethane annually.
DKK182 million / €24.5 million — NIB
13-year loan. Potential later carbon capture is identified, but should not be treated as commissioned infrastructure.[19]
Vegger acquisition and modernisation
Fremsyn, borrowing through Biogem A/S. Integrated plant conversion described in section 01.
€6 million — Nefco
Group-channelled loan alongside other financiers; detailed terms undisclosed.[1]
The grant register identifies the supported project separately from the recipient’s wider investment programme. Green2x appears in both registers because its Møn pilot has equity financing and a distinct EUDP grant. RECLAIM shows a different sequencing issue: its €40 million grant is confirmed, but financial close is targeted for March 2028. The award secures a grant contribution while the project’s remaining financing must still reach closure.
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BOOST
University of Copenhagen with BioCirc
Spectroscopic monitoring of feedstocks, digestion and digestate to improve biogas yield and nutrient management.
DKK4.30 million — GUDP; registered budget DKK4.78 million; project 2025–28. The register differs from the original anticipated DKK5.56 million award; the registered amount is used here.[20]
E-CH4 Booster
Pura Futura, with Aarhus University, EMS and education partners
Demonstration and industrialisation of biological methanation using biogenic CO₂ and hydrogen, including dynamic operation and operator training.
DKK24.66 million — Danish JTF; eligible costs DKK35.21 million. Demonstration grant; current registered project period runs from July 2025 to February 2028.[21]
PytoX — Advanced Pyrolysis Products
Energy Cluster Denmark consortium; Stiesdal SkyClean and Biogasclean technology
Biological conversion of dry pyrolysis gas into biomethane, alongside development of bio-oil and biochar products.
DKK12.58 million — Danish JTF; eligible costs DKK19.99 million; August 2025–January 2028. Technology development and testing, rather than confirmed commercial plant construction.[22]
BP2X
European Energy, Aarhus University, RENEW Energy and Danish Technological Institute
Scale-up of straw-based biogas at AU Foulum and design of integration with renewable methanol production.
DKK26.51 million — EUDP; budget DKK43.79 million; project 2026–28. Development and demonstration grant.[23]
RECLAIM, Vesthimmerland
BioCirc Group and Vesthimmerland project companies
Conversion of an existing biogas plant into an integrated biomethane, renewable methanol and digestate-fertiliser facility.
€40 million — EU Innovation Fund. Grant agreement; target financial close March 2028, operation June 2030. A grant commitment does not establish that construction finance is already closed.[24]
Green2x Pilot Plant Møn
Green2x, Bollfilter Nordic, Rambøll, DTU and Aarhus University
Validation and optimisation of straw conversion into biomethane and biogenic CO₂.
DKK23.9 million — EUDP. Separate development grant alongside the equity financing in section 03. Total grant-project budget was not disclosed in the located announcement.[25]
These awards extend financing to specific functions around digestion and upgrading. Ribe and Blåbjerg target CO₂ handling; Thorsø targets digestate pyrolysis and heat integration; Opti-BioN targets fertiliser production and emissions from digestate.
The awards also demonstrate the difference between a programme ceiling and actual project coverage.
≤ Blåbjerg: announced partial allocation of up to DKK26.7 million against an application budget of DKK89.14 million.
PytoCCUS, Agri Energy Vrå
Energy Cluster Denmark consortium; host Agri Energy Vrå
Integration of pyrolysis, heat recovery and CO₂ capture/liquefaction, initially using the biogas-upgrading stream.
DKK27.24 million — Danish JTF; eligible costs DKK49.87 million; 2025–28. One integrated development award.[26]
PytoN, Vrå
Energy Cluster Denmark and the Stiesdal SkyClean ecosystem
Further development of the existing full-scale pyrolysis installation, component performance, heat integration and operational skills.
DKK26.69 million — Danish JTF; eligible costs DKK42.46 million; 2025–28. Technology improvement associated with the biogas/digestate system.[27]
Vacuum steam stripping and ammonia recovery
Cambi Danmark, BIOFOS and University of Southern Denmark
Recover ammonia and dissolved methane from digested sewage sludge, reducing methane release during dewatering.
DKK6.82 million — MUDP; budget DKK15.81 million; 2025–27. Flagship demonstration grant; exact award day not published in the record.[28]
Opti-BioN
Innovation Centre for Organic Farming, Advanced Substrate Technologies, Aarhus University and Knud Jepsen
Convert digestate into liquid nitrate fertiliser through biological treatment, addressing methane and nitrogen losses.
DKK14.27 million — GUDP; budget DKK19.14 million; 2026–29. Development grant; organic approval remains a project objective.[29]
Thorsø fluidised-bed pyrolysis demonstration
Dall Energy, Renegas and DTU
A 10 MW demonstration unit converting digestate fibres into biochar and useful heat, integrated with drying and biogas upgrading.
DKK49.98 million — EUDP; budget DKK98.64 million; 2026–29. Demonstration construction and integration grant.[30]
Ribe Biogas CO₂ capture and liquefaction
Ribe Biogas A/S
On-site CO₂ capture, purification, liquefaction, tanks and commissioning, enabling subsequent permanent storage.
DKK10.27 million — Danish JTF; eligible costs DKK88.96 million; project ends December 2027. Investment grant for the defined on-site project.[31]
Blåbjerg CCS
BioCirc / Blåbjerg Biogas
CO₂ capture, purification, liquefaction and associated civil works; approximately 11,000 tonnes/year intended removals.
Up to DKK26.7 million — Danish JTF, against an application budget of DKK89.14 million. Announced partial allocation; final legal review was required, and a later definitive individual award record was not identified.[32]
Nybro Pyrolyse
Energy Cluster Denmark
Demonstration of electrified pyrolysis integrated with biogas, CO₂ capture and Power-to-X, including feedstock and heat integration.
DKK18.71 million — Danish JTF; eligible costs DKK28.97 million; project ends November 2028. Current register amount supersedes the initial DKK19.60 million announcement.[33]
BioKon
Fonden Plast Center Danmark and industrial/research partners
Pretreatment, biological drying and thermochemical conversion of residues from agriculture, biogas and wastewater.
DKK23.04 million — Danish JTF; eligible costs DKK29.92 million; project ends December 2028. Research and demonstration grant.[34]
PyroSyd
Danish Technological Institute
Digestate and sewage-sludge testing, resource mapping and business planning for potential pyrolysis facilities in Tønder and Aabenraa.
DKK8.04 million — Danish JTF; eligible costs DKK10.06 million; project ends February 2028. Feasibility and development funding; construction of the proposed plants is not financed by this award.[35]
The remaining awards support earlier-stage technology or downstream uses of biogas. Prometheus investigates methods to increase methane recovery, while SPRING and Reformable develop conversion routes to protein, fuels and chemical intermediates. These commitments finance research and technology development; they do not establish additional commercial gas-production capacity.
Prometheus — Microbial Electrochemical Methanation Initiative
University of Southern Denmark-led international consortium. Electrode-linked microorganisms to improve conversion of organic waste into biomethane.
Almost DKK50 million — Novo Nordisk Foundation. Research grant to the consortium; no commercial plant construction commitment or Danish-only allocation established.[36]
SPRING
DTU-led consortium. Conversion of food-sector side streams through biogas into microbial protein.
DKK9.57 million — GUDP; budget DKK14.16 million; 2026–30. Downstream biosolutions development.[37]
Reformable — Fuels and Chemicals from Biogas
DTU. Maturation of technology for converting biogas into fuel and chemical intermediates.
DKK1.5 million — Innovation Fund Denmark, matching the recorded project budget; 2025–26. Research-commercialisation grant.[38]
Reformable — VILLUM P2X Accelerator
DTU/Reformable. Catalyst and process development for reacting CO₂ with methane.
DKK4.6 million reported by the recipient; the accompanying accelerator communication states DKK4 million over two years. A separate foundation-backed award, but the public amount discrepancy remains unresolved.[39]