Reports in the Danish media suggest that the Windspace project – Elysium Nordic planned for Nyborg in Denmark needs to find around 400 million kroner to enable work to begin on the project.
Elysium Nordic Sees increase in capital requirement
Working with Green Giraffe, a green tech company, Elysium Nordic expects to have the funds available to start work by June or July this year.
“We expect to finish raising capital this summer. We have set a deadline at the end of June, but of course there is, as always, a risk that it will span the month of July. But it should preferably not be too far into the summer holidays, “says Jens Elton Andersen, partner and CEO of Elysium Nordic and the company’s parent company Windspace.
With approvals in place for the microwave pyrolysis the nest setup is finalising the capital investments in the operation.
Originally, the project was estimated to cost 300 million. But since then, Elysium Nordic has concluded that 400 to 500DKK million must be raised instead, says Jens Elton Andersen.