HyOrc Corporation secures EU grant financing and forms Portuguese joint venture for modular waste-to-methanol plant

Type: Financing · Technology: Hydrogen · Country: Portugal · Capacity: 3 TPD · Value: EUR 6.7M · Announced: 2026-09-24

HyOrc Corporation secured a €6.7 million non-dilutive grant from the European Union STEP Programme to support its Phase-2 expansion of the Porto waste-to-methanol project, expanding feedstock processing to 35 tonnes per day (TPD) of refuse-derived fuel and targeting ~8 TPD of methanol output. The article states the deal is tied to a Portuguese joint venture that will host the modular, skid-mounted facility and that the modules are now being factory-tested prior to transport to Portugal. The facility uses gasification, syngas cleaning, conditioning, and methanol synthesis to convert non-recyclable municipal and industrial waste into chemical-grade green methanol at a port location in Porto, Portugal. HyOrc and its Bulgarian partner have additionally applied for a separate €50 million EU Innovation Fund grant for a Varna, Bulgaria project, indicating concurrent financing efforts across European ports. The modular approach is intended to reduce on-site civil works and shorten portside integration timelines, and Bureau Veritas reportedly independently verified testing with zero non-conformities on the skid assemblies.

Analysis

HyOrc Corporation secured a €6.7 million non‑dilutive grant from the European Union STEP Programme on 24 September 2026 to fund Phase‑2 expansion of its modular waste‑to‑methanol plant in Porto, Portugal, increasing feedstock capacity to 35 tonnes per day and targeting about 8 tonnes per day of methanol output. HyOrc is an Oslo‑based renewable energy investment and asset management firm with $2.5 billion in assets under management. HyOrc’s Bulgarian partner is pursuing a separate €50 million EU Innovation Fund application for a waste‑to‑methanol project in Varna, Bulgaria. The modular, skid‑mounted facility is undergoing factory testing with Bureau Veritas verification reporting zero non‑conformities before transport to the Porto port site. The grant is non‑dilutive financing tied to the Portuguese joint venture that will host the plant.

Key points

Counterparties

Source article

📈 The Sherpa Signal — one notable infrastructure deal a day.

📘 Sherpa Guides — practitioner guides to developing, financing and acquiring infrastructure.