Stiesdal Skyclean A/S

Development in activities and financial and economic position




The Company had development costs of DKK 85.4m in the financial year, and a significant amount is expected to be needed in order to complete the first commercial scale project. The financing thereof is expected from the Company’s parent company, which has issued a loan guarantee for the financial year 2023 in addition to the funding which has been granted to the Scale-up project. The Company inaugurated a fully automatic 200kW SkyClean test plant in 2021. The test plant has validated the technology design of SkyClean as well as SkyClean’s potential to substantially reduce carbon emissions from the agricultural sector by converting residual biomass to carbon stable biochar and green fuel. In March 2022 the Company inaugurated a 2 MW SkyClean demonstration plant, located at GreenLab, Skive. The 2 MW plant serves as a testing facility for validation and verification campaigns for the next phase 20 MW commercial scale SkyClean plants. In 2021, the Danish parliament passed an agreement that acknowledges pyrolysis as one of the technologies capable of contributing to a technology neutral national carbon capture and storage strategy. In 2022 Stiesdal SkyClean A/S, together with a number of partners received a grant of DKK 124 million for the SkyClean Scale-up project. The project aims to develop pyrolysis into an efficient and economical climate technology for agriculture. The funds were distributed by the Danish Energy Agency from a special climate initiative, adopted in the Finance Act for 2021. The purpose is to promote technologies with great potential to reduce greenhouse gas emissions in agriculture. The Company is experiencing high interest for the SkyClean technology. Management expects profitable operations in 2024, which is supported by budgets, market surveys and the general good potential of the technology. The Management considers the result of the year to be satisfactory.