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>>>

The world is increasingly banking on green hydrogen fuel to fill some of the critical missing pieces in the clean-energy puzzle.

US presidential candidate Joe Biden’s climate plan calls for a research program to produce a clean form of the gas that’s cheap enough to fuel power plants within a decade. Likewise, Japan, South Korea, Australia, New Zealand, and the European Union have all published hydrogen roadmaps that rely on it to accelerate greenhouse gas reductions in the power, transportation, or industrial sectors.

How Falling Solar Costs Have Renewed Clean Hydrogen Hopes | Devamı>>>