European Bank for Reconstruction and Development (EBRD) has signed a €45.75 million sovereign loan with Albania’s state energy distribution company, Operatori i Shpërndarjes së Energjisë Elektrike (OSHEE). The loan will allow OSHEE to restructure some of its short-term debt as well as free up funds for green investment to enhance Albania’s energy infrastructure.

Debt Restructuring and Green Investments

In late 2021, OSHEE borrowed €81.5 million in short-term commercial bank loans to cover imports of electricity with skyrocketing energy prices on the global market. The EBRD‘s newest financing will enable OSHEE to refinance part of the debt as a more sustainable long-term loan together with commercial banks. This refinancing will free up capital that OSHEE will invest in green projects essential for its modernization.

Under the deal, OSHEE has pledged to invest a maximum of €45 million over four years in enhancing its distribution grid. The upgrades will blend renewable energy, reduce power losses in the grid, and promote reliability, offering consumers a more efficient and stable supply.

Also read: EBRD Provides €50 Million to TEB Arval for Electric Vehicle Fleet Expansion

Technical Assistance and Employee Training

During his visit to Albania, EBRD Vice President Matteo Patrone signed the financing agreements, making them official. Signing the deal alongside him were Albania’s Minister of Finance and EBRD Governor, Petrit Malaj, and OSHEE Administrator, Enea Karakaci.

Minister Malaj stated that the transaction brought significant benefits, as refinancing OSHEE’s short-term loans into long-term loans from the EBRD would allow the company to repay the principal in manageable instalments over an extended period. He explained that this approach would create a smoother amortisation profile and lower the risk of future debt refinancing. Additionally, he highlighted that the new financing terms were more favourable, ultimately reducing the total cost of the loan.

Beyond financial restructuring, the project also includes technical assistance to enhance OSHEE’s workforce capabilities. OSHEE’s training academy will provide advanced training to employees, improving their skills in network planning and infrastructure investment for modernization.

Capture6, a company specializing in transforming waste brine into fresh water and carbon removal solutions, has secured $27.5 million in Series A and project funding. Capture6’s Series A financing round, led by private equity firm Tetrad Corporation, saw participation from Hyundai Motor Group’s ZER01NE Ventures, Energy Capital Ventures, Elemental Impact, Bridge Investment, Sopoong Ventures, Third Derivative, Stan and Jane Rodbell, and the Jacob S. Shapiro Foundation.

Financial advisory for the raise was provided by Rothschild & Co. With this funding, Capture6 aims to accelerate the development and deployment of its water recovery and carbon removal technologies worldwide.

Innovative Technology Addressing Climate and Water Challenges

Capture6’s integrated system connects directly with existing water infrastructure, offering a novel approach to both carbon removal and water treatment. Capture6 turns waste brine from desalination into a solvent that directly captures CO2 in one step, avoiding energy-intensive multi-step processes. This process permanently captures carbon, recovers freshwater that would be wasted, and produces valuable green chemicals for water treatment facilities.

Capture6 CEO Ethan Cohen-Cole stated that climate change is causing water insecurity for much of the global population, increasing demand for freshwater while worsening the issue due to the carbon-intensive nature of current water treatment methods.

He explained that Capture6’s approach helps mitigate this challenge by reducing waste streams from desalination and wastewater treatment, creating new water sources, cutting waste disposal costs, enhancing the efficiency of water production facilities, and simultaneously supporting decarbonization efforts.

As freshwater demand will surpass supply by 40% by 2030, Capture6 offers a scalable solution for water security and resilience.

Elemental Impact supported Capture6’s Palmdale project, eliminating 100 acres of brine ponds and cutting lifetime costs by 40%.

Also read: Pilot Energy and Capture6 Partner for Direct Air Capture and Water Treatment Project

A Global Expansion Strategy

Capture6 is rapidly scaling its impact, with four water-positive carbon capture facilities announced across three continents. The company is working with industrial partners in the US, South Korea, New Zealand, Australia, and the Middle East.

In 2024, Capture6 also revealed a significant milestone: Frontier enabled an up-front purchase of 1,000 tons of carbon removal for Shopify and Stripe, further establishing the company’s technology and commercial success.