TEXEL Energy is further investing in Jord AB, and simultaneously, the companies have signed an agreement to adapt TEXEL’s energy production technology to generate electricity from Jord’s pellets and briquettes, made from C4 grass.
Jord’s ambition is to cultivate the world’s fastest-growing biomass (C4 grass) at various locations around the globe to convert it into renewable fuel in the form of pellets and briquettes.
Jord has existing cultivations of this special grass in both Senegal and the Dominican Republic, and with TEXEL’s recent acquisition of assets from the publicly listed Swedish Stirling, as well as certain assets from the formerly listed AZELIO, TEXEL has taken over assets which are now to be adapted to convert C4 grass into scalable electricity.
"The expansion of our partnership with Jord AB represents a natural progression in TEXEL’s strategy to diversify within the scalable and sustainable energy sector," said Lars Jacobsson, CEO and founder of TEXEL Energy AB. "This investment not only increases TEXEL’s stake in Jord AB but also secures exclusive rights to enhance the application of our technology for generating green electricity from Jord AB’s C4 pellets. This initiative not only broadens the scope of our core business and technology but also opens up new market opportunities.”
“Our sustainable biofuel can replace various types of fossil fuels and can also be integrated into a new, modern technology for electricity production that the collaboration with TEXEL will lead to," said Peder Dagsánth, CEO of Jord. AB. "TEXEL and JORD can address the challenges of local electricity production in areas where it is currently very difficult to create a sustainable electricity supply.”
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