EET (Essar Energy Transition) Fuels, the owner of Stanlow refinery in the UK, has successfully secured $650 million in financing and trade credit. The company received $150 million from ABN AMRO Bank, $200 million from Hamburg Commercial Bank AG (HCOB) and Mizrahi Tefahot Bank Ltd (UMTB), and a trade credit financing for $300 million with an international oil company. This funding demonstrates strong market confidence in EET Fuels' decarbonization strategy, which aims to significantly reduce emissions by 95% by the end of the decade. The company is taking a pioneering approach towards industrial decarbonization, with a focus on utilizing industrial carbon capture and blue hydrogen. Satish Vasooja, the Chief Financial Officer at EET Fuels, expressed confidence in the company's decarbonization strategy, highlighting the support of major financing partners for further business development and investment. The new financing facilities not only enhance EET Fuels' financial capabilities but also strengthen its strategic partnerships with European banks and trading partners. Tarun Naruka, the Head of Corporate and Structured Finance at EET Fuels, emphasized how the newly secured facilities bolster the company's balance sheet, providing flexibility in financing arrangements. He highlighted the alignment of major financing partners with EET Fuels' core strategy, which includes cost optimization and continuous performance improvement. Overall, this financing marks a significant step for EET Fuels in achieving its goals of becoming a leading low-carbon process refinery and establishing a major UK energy transition hub at Stanlow refinery.