Shell (SHEL.L) said on Monday it would acquire Danish biogas producer Nature Energy for nearly $2 billion, as it looks to boost its low-carbon business amid growing interest in biogas.

Reuters had reported last month Shell was among a number of companies joining a second bidding round to acquire the Denmark-based company.

Nature Energy, which operates 12 biogas plants in Denmark and one in France and has others in the pipeline, confirmed the deal in a separate statement.

Shell to Buy Danish Firm Nature Energy for Nearly $2 billion | Devamı>>>

Shell, one of the global oil and gas companies, will establish a biofuel facility in the Netherlands with a capacity to produce 820,000 tons of clean fuel per year.

In the Netherlands, one of the largest biofuel facilities in Europe will be established by Royal Dutch Shell in order to help its target of reducing carbon emissions to net zero by 2050.

While the biofuel facility is planned to start production in 2024, the facility will produce aviation fuel (SAF) and renewable diesel from oil waste, and the facility will also prevent the emission of approximately 2,800,000 tons of carbon dioxide per year.

Biofuel Plant to be Established in the Netherlands by Shell | Devamı>>>