NordFuel Oy’s Haapavesi biorefinery has a positive investment subsidy decision from the Ministry of Employment and the Economy
NordFuel Oy is preparing to build a biorefinery in Haapavesi that will produce biofuels for transport. In the spring of 2019, investment support for large energy technology demonstration projects was applied for from the Ministry of Employment and the Economy. Investment support is intended for projects that provide future energy solutions to meet both national and EU climate and energy targets for 2030. The aim is also to promote internationally replicable solutions based on new energy technologies.
“A positive support decision is excellent news for us. Society’s support and commitment to the new technology project will also strengthen the confidence of domestic and foreign investors in the project. The biorefinery is a major investment, in the order of EUR 300 million. The biorefinery will also be a major employer both during the project and after the plant is completed. The project also enables the construction of a new kind of bioeconomy ecosystem and thereby creates new know-how and technology export opportunities”, says project director Timo Strengell.
“We welcome the ministry’s decision. This will help to take the project forward as planned. Next, we are waiting for the environmental permit decision, after which the project has the prerequisites to proceed to the plant design phase”, says Andreas Rasmus, CEO.
- Timo Strengell, Project Director, NordFuel Oy, +358 40 738 48 60
- Andreas Rasmus, CEO, NordFuel Oy, +358 44 781 53 96
NordFuel Oy‘s biorefinery will produce 65,000 tonnes of 2G bioethanol and 250 GWh 2G biogas annually, making the refinery the largest biogas production unit in the Nordic countries. NordFuel Oy will be a locally significant employer.