EET Fuels, the owner of the UK's Stanlow oil refinery, has successfully secured $650 million in financing and trade credit financing facilities to bolster its decarbonization plans. This significant achievement underlines market confidence in the company's strategy towards decarbonization. Essar Energy Transition (EET) Fuels is aiming to set a new standard for industrial decarbonization by becoming the first low carbon process refinery and targeting a remarkable 95% reduction in emissions by the end of the decade. Key elements of their strategy include industrial carbon capture and the utilization of blue hydrogen. The secured financing encompasses various sources, including $150 million from ABN AMRO Bank, an extension and upsizing of facilities for receivable financing, and a substantial trade credit financing arrangement with an international oil company. This financial support signifies a pivotal step towards the development of a major UK energy transition hub at the Stanlow refinery. EET Fuels' CFO, Satish Vasooja, highlighted the significance of major financing partners endorsing their decarbonization strategy, providing the company with the confidence to continue expanding and investing in their operations. Additionally, Tarun Naruka, the Head of Corporate and Structured Finance at EET Fuels, emphasized that these new facilities strengthen the company's financial position, enhance flexibility in financing, and align with core strategies focusing on cost optimization and performance improvement. Overall, this financing milestone not only reinforces EET Fuels' commitment to sustainable practices but also paves the way for strategic growth, stronger partnerships with European banks, and increased customer offerings. The company's dedication to driving decarbonization in the industrial sector bodes well for its future sustainability and leadership in the energy transition landscape.