Gorrissen Federspiel has acted as legal counsel to European Energy in connection with its Tranche 1 investment in, and establishment of partnership with, Kvasir Technologies, as lead investor in a DKK 75 million Series A round alongside existing investors including EIFO, Maersk Growth and The Footprint Firm.
Kvasir Technologies, established in 2018 as a spin-out from the Technical University of Denmark, has developed a proprietary technology converting waste biomass into CO2-neutral drop-in biofuel for the maritime industry – enabling ships to transition to climate-neutral fuel without engine modifications or changes to existing infrastructure.
As part of the investment, European Energy and Kvasir Technologies have jointly established KVEEN Biofuels, working towards the construction of a first-of-a-kind commercial biofuel production facility in Aabenraa.
The Gorrissen Federspiel team was led by Gitte Lansner, Charlotte Louise Thorsen and Emilie Rønberg Kristensen.