Press releases

Green Fuel Nordic Oy initiates an investment roadmap of multiple bio-oil plants in Finland

05.10.2011

Today, Green Fuel Nordic Oy announced that it has initiated an investment roadmap for production of second generation bio-oil from sustainable, forest-based feedstocks using fast pyrolysis technology.

Green Fuel Nordic Oy is a new biorefining company based in Finland. The company has invited Mr. Timo Saarelainen as Chief Executive Officer (CEO) for its operations. Mr. Saarelainen (48) enters his new position after 25 years international career at Honeywell where he recently served as CEO of Honeywell Finland and Global Business Leader for Power Industry.

”We are pleased to get Timo Saarelainen into our team. He has a long-term experience in business development, management and large-scale industrial projects from many industries”, says Vesa Kainulainen, Chairman of the Board.

Green Fuel Nordic Oy´s strategy is to build several biorefineries in Finland during the next couple of years. Company has investigated several sites in and the final locations are selected based on availability of biomass and labor force that is suitable for bio-oil production.

Green Fuel Nordic Oy will invite to a press conference in the near future.

”In recent years, Finnish forest cluster has been influenced by several mill closures and production cuts resulting in reduced demand on biomass. We see that there is a great momentum to introduce new technologies, innovations and employment to support the future of Finnish forest-based economy”, concludes Mr. Kainulainen.

Contact and information:

Mr. Timo Saarelainen
CEO, Green Fuel Nordic Oy
Phone: +358 40 707 6640

Mr. Vesa Kainulainen
Chairman of the board, Green Fuel Nordic Oy
Phone: +358 40 966 9000

Domestic production and use of biomass-based, second generation biofuels efficiently contribute to the national RES target of Finland being 38 % by year 2020. Biomass-based liquid fuels have a promising market outlook in areas of renewable energy production and transportation both in Finland and in European Union.

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