Hogan Lovells advises Storengy on a joint venture with CM Fluids
Led by Frankfurt partner Dr Torsten Rosenboom, global law firm Hogan Lovells has advised Storengy Deutschland, an ENGIE Group company, on entering into a joint venture with Bavarian biogas specialist CM Fluids AG, whose core segment includes the project planning and operation of biogas liquefaction plants.
The partnership is aimed at producing liquid biomethane (Bio-LNG) for use as a climate-neutral fuel for buses and trucks. The companies are planning to build a biogas liquefaction plant on the site of a biogas plant in the Nuremberg region. The plant will produce about 700 tons of bio-LNG per year – enough to fuel about 2,800 vehicles with a tank filling of 250 kilograms. One tank filling corresponds to a range of up to 1,500 kilometers.
Storengy enters the joint venture company, which will operate under the name CMF Storengy GmbH, by way of a capital increase. For Storengy, this joint venture is an important step in consolidating its strategic orientation in the field of renewable gases. In line with the mission of the ENGIE Group, this will accelerate the transition to climate neutrality for the economy and society.
Hogan Lovells comprehensively advised Storengy on all legal issues throughout the transaction.
Hogan Lovells Team for Storengy Germany
Dr Torsten Rosenboom (Partner), Dr Matthias Murr (Senior Associate), Dr Maximilian Broermann (Counsel), Dr Marius Rothermund (Senior Associate) (all M&A, Frankfurt);
Dr Tobias Faber (Partner), Katharina Baunach (Associate), Juergen Kess (Senior Associate) (all Infrastructure, Energy, Resources and Projects/ Finance, Frankfurt);
Dr Carla Luh (Partner, Infrastructure, Energy, Resources and Projects/ Finance, Hamburg);
Dr Dirk Debald (Partner), Fabian Reischauer (Senior Associate) (both Real Estate, Hamburg);
Dr Stefan Schroeder (Partner), Maria Kern (Associate) (both Energy Regulatory, Dusseldorf).