Press releases

Green Fuel Nordic’s investment program in line with the Finnish bio-economy strategy

17.02.2014

Finland is on its way towards bio-economy – a low-carbon and energy efficient society based on renewable resources and recyclable materials. Finland’s bio-economy strategy defines the steps we take to reach bio-economy. Green Fuel Nordic has been involved in the strategy work.

Bio-based economy aims to reduce dependence on fossil energy, to prevent degradation of ecosystems, to promote economic development and to create jobs in a sustainable manner.

Finland’s currently proposed strategic choices for the realization of the bio-economy are:

  • Ensuring the availability of renewable resources, sustainability and acceptability required by the bio-economy, as well as identification the significance of natural processes for strengthening operational conditions for bio-economy.
  • Breaking industry sectors to create new bio-economy solutions
  • The bold experimentation and a strong domestic market to commercialize the bio-economy solutions
  • Distributed high-value bio-economy to improve local employment and well-being
  • Allocation of bio-economy expertise to create new bio-economy solutions

”Green Fuel Nordic’s investment program which aims to start commercial bio-oil production in Finland is firmly in line with all the choices of bio-economy strategy. Our program is an indication that we are ready to go forward and start implementing the bio-economy in practice,” says CEO Timo Saarelainen from Green Fuel Nordic Oy.

The investment program has in many ways progressed according to the plan, as is the case, for example, in terms of construction, environmental and operational permits. Also foundation, architectural and structural planning, as well as technology related engineering, has progressed on schedule.

”Agreeing on the details of the loan package of the total investment has, however, taken longer than was planned, and for this reason we have to look again at the overall project schedule,” says Saarelainen.

More detailed project schedule will be announced when the loan component details are completed.

Additional information:

CEO Timo Saarelainen
Phone +358 40 7076640
timo.saarelainen(at)greenfuelnordic.fi
 

Green Fuel Nordic Oy is a Finnish biorefining company. The company’s business idea is to utilize commercially proven RTP™ technology for the production of second-generation bio-oil from local, renewable, forest-based biomass. The off-take is a liquid, low-carbon and sulfur-free bio-oil that can directly replace light and heavy fuel oil in renewable energy applications. In the upcoming years, Green Fuel Nordic Oy aims to build several biorefineries in Finland. The company, established in October 2011, is headquartered in Kuopio, Finland. www.greenfuelnordic.fi

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