Ørsted secures USD 100M Federal funding deal

Ørsted, a prominent US clean energy developer, has secured up to USD 100 million in federal funding from the DOE for its Power-to-X initiative, Star e-Methanol, in Texas. The project, among 33 selected nationwide, aims at commercial-scale decarbonization for energy-intensive industries. Star e-Methanol targets an annual production of 300,000 metric tons, serving marine shipping and aviation fuel sectors, reducing CO2 emissions by over 90%. It integrates wind and solar power for hydrogen electrolysis, captures biogenic carbon, and synthesizes e-methanol. The project anticipates generating 300 construction jobs and 50 permanent positions, with a focus on Houston, where Ørsted established a new office in 2024.