Copenhagen-based BioCirc, a circular bioeconomic company, has completed an internal fundraising round of DKK 300M (nearly €40.20M). The funds will support the company’s projects totalling DKK 1B (nearly €134M) by 2025, including a biogas facility in Skive.
BioCirc has called an extraordinary general meeting to address investor interest following an oversubscribed fundraising round among shareholders and employees.
In a statement translated from Danish, Bertel Maigaard, founder of BioCirc, says, “It has exceeded all expectations, and it’s great to feel the significant support that both the shareholders and especially the employees – who have the best insight into what’s happening in our bio-economical group – have shown me and the rest of BioCirc’s management. It is a great vote of confidence and something we are very proud of.”
BioCirc board member, Jens Bak Ibsen, adds, “It is with great humility that the Board has received this signal from both shareholders and employees, and at the extraordinary general meeting we will seek approval of a formal mandate to carry out a supplementary financing round so that we can meet the high investor demand from our employees in particular.”
The biogas facility in Skive
BioCirc will begin three projects in the second quarter of 2025, funded by two internal financing rounds. The company will expand the Vinkel Biogas plant in Skive from 430,000 tons to 1.1 million tons of biomass, making it the world’s largest biogas plant.
The project includes the addition of a grass-protein plant to support land conversion targets under the green tripartite agreement.
A 55-hectare solar park will be established around the Skive facility to supply electricity directly from a renewable source. The first power is expected to be delivered to the grid in May 2025. The facility will also be connected to the grid to support its future role as a battery for grid balancing.
BioCirc will construct five carbon capture plants in Skive, Viborg, Vesthimmerland, Favrskov, and Haderslev. These plants are expected to capture a total of approximately 1 million tons of CO2 and will contribute to municipal climate targets. The project is part of BioCirc’s allocation from the Danish state’s NECCS pool, which totals nearly DKK 1B from 2026 to 2032.
Brief about BioCirc
Founded in 2021, BioCirc aims to displace the use of fossil energy locally and support communities in reaching energy targets through land-based circular systems.
The company produces energy in the form of electricity, gas, fuel, and heat through integrated energy clusters. It supports municipalities with the implementation of local energy systems that reduce CO2 emissions and support energy transition.
“We are one of the largest biomethane producers globally, and a world-class developer, owner and operator of integrated circular energy clusters,” says the company.
BioCirc owns and operates eight biogas plants in Denmark. It produces 1.5 Terawatt hours (TWh) of green energy per year and reduces CO2 emissions by 361,000 tonnes every year. Currently, 5 GWh of renewable electricity is in development.
BioCirc’s ownership consists of several entities, including DLG Group, a cooperative and its 25,000 Danish farmers.
The company develops, owns, and operates energy clusters with a focus on biomethane production. Its strategy is to evolve from a biogas producer to a developer, owner, and operator of energy clusters across borders.
According to BioCirc’s website, it employs 300 full-time staff and has offices in Middelfart and Copenhagen.
