Ulster Bank has supported Firmus Energy in its journey to net zero carbon future.

Almost £70 million was provided by Ulster Bank which was one of four lenders to participate in refinancing Firmus Energy. The other lenders include Deka Bank, Credit Agricole and Helaba. The total funding package across the syndicate of banks is worth £285 million.

Damien Long, corporate banking relationship director at Ulster Bank, said: "Ulster Bank has managed firmus energy’s day-to-day banking for many years and we are very pleased to now also support the business’s lending requirements. This is a major deal that is very important to Northern Ireland’s gas energy infrastructure.”

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"Firmus energy plays a pivotal role in Northern Ireland’s pathway to net zero by 2050 in a region where more than 60 per cent of households still use oil heating. Firmus energy enables consumers to move away from oil to gas heating which reduces their heating carbon footprint by more than 50 per cent.

"In line with Net Zero 2050 targets, firmus energy plans to reduce the carbon impact of the business by injecting biomethane and hydrogen blends into the network. Their movement toward sustainable fuel aligns well with Ulster Bank’s purpose and ESG targets. So, we are very pleased to provide this support."

Denise Curran, Finance Director from Firmus Energy, stated: "This funding package will allow us to continue our investment as we seek to deliver sustainable gas through our network and continue our journey towards a net zero carbon future. We are grateful to Ulster Bank and the other lenders for their support."