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Green Fuel Nordic has concluded a financing agreement with the North Karelian Osuuspankki  and Finnvera of EUR 10 million


The North Karelian Osuuspankki has co-financed EUR 10 million financing agreement with Finnvera and the European Investment Bank for GFN Lieksa Oy in Lieksa Kevätniemi industrial area for the investment of a biorefinery.

The financing agreement allows the biorefinery project to proceed as planned.

"The financing agreement with the banks of debt is closing the overall financing package for the investment. We are delighted that the Osuuspankki was able to arrange the required debt package for this industrial investment in the bio-economy, which is important for this province and Finland, "says Timo Saarelainen, CEO of Green Fuel Nordic Oy.

"The GFN Lieksa biorefinery project is in line with the government's ambitious climate and energy targets. Local investment in renewable fuel based on the sustainable use of local forest biomass is of regional economic importance and serves as a good example of an emerging bio-economy, "says Minister of the Environment, Energy and Housing Kimmo Tiilikainen.

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