Nordic Electrofuel is a privately held, Norwegian company founded in 2015. We will decarbonize aviation by producing sustainable aviation fuel from renewable energy, using the Power-to-Liquid (PtL) pathway.

About us

Nordic Electrofuel was founded in 2015 by the Norwegian entrepreneur Rolf Bruknapp. Our vision is to decarbonize aviation, through a scalable and cost-effective solution. We are building a commercial facility for production of high-quality and carbon-neutral synthetic fuels at Herøya in Porsgrunn, Norway.

Our goal is to decarbonize the hard-to-abate sectors by  by cutting emissions, making aviation greener and more sustainable.

Board of directors

Ronald-Tuft

Ronald Tuft

Board member

Founder and previous CEO of Norway’s leading refugee reception company Hero. Board member and one of the largest shareholders in Norway’s largest transport company Litra. CoB and MoB in a large number of companies.

Jörg Walter

Jörg Walter

Board member

Senior Group Director at Marquard & Bahls AG in Hamburg, where he has been working for over 25 years. Responsible for HSSE, sustainability, communications, and IT, focusing on continuous improvement of the organisation and its portfolio.

Before joining Marquard & Bahls, he was a department manager in an environmental consulting firm. Has a PhD in geology from 1994, University of Cologne

Harald Norvik

Harald Norvik

Board member

Former President and CEO of Statoil Group (1988-99). Served as Member of Aker’s Executive Board as CFO (1981-86) and CEO of Astrup Høyer (1986-87). Was Personal Secretary to the Prime Minister and State Secretary in the Ministry of Petroleum and Energy.

He has served on boards in a number of international and Norwegian companies, and has been Chairman of the Board of Imatis, Deep Ocean, SAS, Telenor, Oslo Stock Exchange, and Aschehoug. He has, in addition, been a board member in ConocoPhillips, PGS, Orkla, EON Ruhrgas and Chairman of DNB’s Advisory Board. From 2002 to 2010, he was strategic advisor of ECON Pöyry.

Today, he is a board member of Umoe and Chairman of the Board of Barratt Due, NRC (Norwegian Refugee Council) and Kraft Bank. Has a MA in business from NHH, Bergen.

Bastian Mueller

Bastian Mueller

Board member

Chairman of the supervisory board and majority owner of WM SE, the largest wholesale distributor of vehicle parts and services in Germany, which also operates in Europe and the United States. He is also a board member of the GVA, the German Association of Car Part Distributors, and has a professional background from Robert Bosch. He invests in Nordic Electrofuel through his family office Parkshore Holding GmbH.

Rolf Bruknapp

Rolf Bruknapp

Chairman

20 years of experience in the hydroelectric industry in Norway, the Nordic region, and Turkey. Has developed and operated numerous small and medium-sized power plants within hydro, solar, and wind. MA in business and economics.

Management

Gunnar Hole

Gunnar Holen

CEO

31 years of experience with investment banking and corporate finance, including fundraising and M&A activity. Has contributed to and participated in a number of national and international IPOs.

Founded CAR ASA, which grew from two to 55 people from 2003 to 2007 and had a turnover of NOK 80 million NOK in the same period.
Has been a top-rated investment analyst both internationally and domestically. MA in business and economics.

Rolf Bruknapp

Rolf Bruknapp

Partner

20 years of experience in the hydroelectric industry in Norway, the Nordic region, and Turkey. Has developed and operated numerous small and medium-sized power plants within hydro, solar, and wind.

MA in business and economics.

Bjørn Bringedal

Bjørn Bringedal

Chief Technical Officer

More than 30 years of experience within different process and automation industries, such as R&D, conceptual studies, engineering, and operational support. Held the position as senior specialist in ABB Oil, Gas and Chemicals before beginning at Nordic Electrofuel.

Has worked in various departments in ABB and Hydro, and has experience with oil and gas, aluminium, magnesium, technology, and project management. MA in chemical engineering and fluid dynamics from NTH, Trondheim.

Tom Henrik Sundby

Tom Henrik Sundby

CFO

Tom Henrik has more than 25 years experience in finance and management roles, including over 10 years as CFO in stock listed companies, most recently as CFO in MagseisFairfield ASA.

 He was instrumental in the USD 250 million acquisition of US based Fairfield. Previously, he was beased in Dubai, UAE, where he held the position as CFO of Polarcus Ltd. for 8 years. 

He was responsible for raising USD 1,5 billion including an IPO of the company. He has otherwise held various advisory and management positions within KPMG and TINE. Mr. Sundby holds a Masters of Business Administration degree with Honours from BI Norwegian Business School and ESCP, France.

Rune Løvstad

Rune Løvstad

Project Director

Has more than 30 years’ experience in both on- and offshore industry. Came from the position of Project Director in Aibel. Has held positions as vice president, project director, and manager within engineering, system completion, subcontracting, and business development.

Developed a renewable energy business, and has a technical and commercial mindset and in depth competance within project strategy, methodology, leadership, and management. MA in naval architecture and marine engineering, institute of Marine Machinery.

Terje Dyrstad

Terje Dyrstad

CEO, Nordic Wind AS
(100% NEF)

Extensive experience in development, design, and construction of hydropower plants in Norway and Turkey. In-depth competence within technical and water treatment processes. Has previously worked for companies such as Alfsen & Gundersen AS, Rovas AS, and Nordvest Energi AS. Educated machine/energy engineer, TIH Trondheim, and has a MA in social science, UiB.

Partners

Nordic Electrofuel has already secured key commercial contracts:

• Offtake agreement with P2X Europe AG
• Option agreement with Herøya Industrial Park AS regarding land lease
• Agreement with Eramet Norway AS on the supply of CO/CO2
• Option agreement with Herøya Industrial Park AS regarding water supply

• ACT – Arctic Cluster Team (Helgeland/Nordland)
• CO2 Value Europe
• e Fuel alliance
• Fuels Europe
• Renewable and Low-Carbon Fuels Value Chain Industrial Alliance
• Industrial Green Tech (Grenland/Telemark)