HyOrc secures 10-year offtake deal with possible bunkering scope

Houston-based renewable energy firm HyOrc has signed a non-binding 10-year offtake agreement with an undisclosed "European renewable fuels producer" for its planned e-methanol plant in Portugal.

IMAGE: Methanol-capable ship. ENGINE via ChatGPT

HyOrc is developing an 8 mt/day facility in Porto, with construction scheduled to begin in 2026.

Under the agreement, the European producer would purchase the plant’s full output once production begins.

HyOrc said the same producer is also in talks with multiple shipping companies and other industrial buyers for large-volume offtakes of the purchased e-methanol.

“These [shipping and other] firms have confirmed long-term off-take interest for volumes in the millions of tonnes of green methanol per annum, and key strategic partners have expressed intent to invest once the pilot facility is operational,” HyOrc noted.

By Konica Bhatt

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