Hogan Lovells represents C2X in investment in SunGas Renewables

C2X and SunGas have entered into a strategic partnership and an investment by C2X in convertible preferred stock issued by SunGas. Together, SunGas and C2X aim to increase the supply of sustainable fuels and advance global decarbonization of hard to abate industries.

SunGas, a spin-out of GTI Energy, is a leader in providing proven process technology and equipment for enabling the production of renewable fuels. C2X is aiming to establish large-scale green methanol production for multiple industries around the globe.

This investment will also support the continued development of SunGas’ Beaver Lake Renewable Energy (“BLRE”) green methanol project in Central Louisiana. BLRE, expected to be fully operational as early as 2028, aims to produce green methanol at a capacity of more than 400,000 tons per year. It is planned to be the first of several renewable fuels facilities to be developed, owned, and operated by C2X and SunGas across North America.

“SunGas’ leading biomass gasification technology platform and their highly capable team offers the fastest and lowest cost way to scale up the supply of green methanol that is so urgently needed to enable the marine, aviation, and chemicals sectors to reduce their fossil carbon emissions. Furthermore, we hope that our investment will also enable SunGas to advance the sale of their technology to other customers looking to produce renewable molecules for hard-to-abate industries,” says Brian Davis, Chief Executive Officer at C2X.

The Hogan Lovells M&A team representing C2X was led by partner Megan Ridley-Kaye (New York), with assistance from counsel Polly Sims (Houston), and senior associate Tina Guo, visiting international lawyer Fredrik Gunhildrud, and trainee solicitor Hannah Dingemans (all New York).

The Hogan Lovells team also included:

Antitrust – partners Robert Baldwin and Ashley Howlett (both Washington)

Benefits – partner and co-chair of the Employee Benefits and Executive Compensation practice Martha Steinman (New York) and senior associate Bothwell Graham (Washington)

CFIUS – partner Anne Salladin (Washington)

Energy regulatory – senior counsel Mary Anne Sullivan (Washington)

Energy transactions – partner David Locascio (Houston)

Environmental - partner and co-chair of our global environmental practice Scott Reisch (Denver), senior associate Matthew Miller (Denver)

Finance – partner Matt Schernecke, associate Jason Sloan (both New York)

Employment – partner Mike DeLarco, senior associate Maria Benvenuto, and associate Heather McAdams (all New York)

International Trade – senior associate Patrick Miller (Washington)

IP – partner Taylor Evans, senior associate Joe Grdinovac, and associate Connor Day (all Houston)

M&A – visiting international lawyer Christina Zhu (Beijing)

Privacy & cybersecurity – partner Paul Otto and senior associate Morgan Perna (both Washington)

Tax – partners Mark Weinstein (New York) and Jamie Wickett (Washington), senior associates David Steenburg and Stephen Weinstein (both Washington)

More on this transaction can be found here.