Nature Energy Biogas A/S, which operates Denmark's largest network of biogas plants, ended 2024 with a deficit of DKK 695 million, according to the newly published accounts.
The trend follows what is seen in many other places: Heavy investment in green transition, but revenues are still lacking.
The company has organised local biogas projects through its subsidiaries Nature Energy Lolland ApS and Nature Energy Falster ApS. The accounts for the Lolland company show for the first time how much has been invested in the construction at Abed near Holeby. In 2024, capital expenditures of DKK 158 million were recorded. The company simultaneously received a group subsidy of almost DKK 127 million and ended with a deficit of DKK 3.1 million. The Falster company has not had construction activities and closed the year with a deficit of DKK 0.5 million and without registered capital assets.
The construction at Abed is closely linked to an agreement that Nature Energy has made with Nordic Sugar for the supply of beet pulp from the sugar factories in Nakskov and Nykøbing Falster to the biogas plant.
Owned by Shell
The group, which has been owned by Shell through NGF Denmark Holding ApS since 2023, functions as Shell's Danish main company for biogas. According to the annual accounts, the company sees itself as a market leader in the production of green gas from biomass.
Overall, Nature Energy operates 14 biogas plants in Denmark, which annually produce 197 million cubic metres of upgraded biogas. According to the financial statement, the company has also significantly increased the number of employees. During 2024, the company had an average of 203 employees, but by the end of the year, the number had risen to 491.
The large deficit for the year is explained by continued low gas prices and high biomass prices. At the same time, there has been significant investment. The expansion of the plant in Bånlev in Jutland was completed, and work on new projects in Germany, the Netherlands, France, and Poland continues.
For 2025, the company expects a new deficit of between 200 and 500 million DKK. Prices of biomass and gas, as well as continued investments, affect the result, but management also expects that the sale of green gas and green certificates will increase.
