EET Fuels, trading as Essar Oil (UK) Ltd, recently secured $350 million in financing, demonstrating significant market support for its ambitious decarbonisation strategy. The company, with a target of achieving a 95% reduction in carbon emissions, aims to pioneer the world’s first low-carbon refinery by 2030. The funding comprises a $150 million facility from Afreximbank, alongside the expansion of an existing trade credit facility to $500 million. This financial boost builds upon the $650 million financing announced earlier, strengthening EET Fuels' strategic objectives. Noteworthy initiatives within the plan include industrial carbon capture, low-carbon hydrogen production, and the introduction of Europe’s first hydrogen-fueled combined heat and power plant at Stanlow. The recent financing not only bolsters EET Fuels' financial foundation but also enhances partnerships and fosters connections with African markets. CFO Satish Vasooja expressed confidence in the company's transformation, stating, “This facility supports our transformation, showcasing confidence in our strategy to lead the energy transition.” With a solid financial backing, EET Fuels is well-positioned to redefine sustainable industrial practices on a global scale.