In media | Nordic Electrofuel

Nordic Electrofuel joins forces with Societe Generale for fundraising to realize e-SAF facility

January 2024
The aviation industry’s transition to sustainable fuels is gaining momentum, and one trailblazing project at the forefront is Nordic Electrofuel’s e-SAF plant in Norway. With commissioning scheduled for 2026, this pilot facility will produce synthetic sustainable aviation fuels (e-fuels) using power-to-liquid technology, significantly reducing aviation’s CO2 footprint. What makes this project unique is the collaborative equity financing behind it. Advised by Societe Generale, Nordic Electrofuel aims to raise capital not only from financial investors but also from aviation companies, including airlines, aircraft manufacturers, and airports. This collaborative approach is essential for scaling e-fuel technologies and moving from lab experiments to commercial production. With aviation responsible for a significant share of global CO2 emissions, such cooperative efforts are crucial in achieving net-zero air travel. The EU Innovation Fund has also granted 40 million euros to support this groundbreaking initiative. Additionally, Nordic Electrofuel has recently reached a milestone by signing a term sheet with P2X Europe, a joint venture of Mabanaft and H&R Group, formalizing their cooperation in the production and commercialization of synthetic fuels, with a focus on electricity-generated sustainable aviation fuel (e-SAF). Read the article from Societe Generale below.

Nordic Electrofuel Signs EUR 40 million Grant from EU to Build e-SAF Plant in Norway

July, 2023

Nordic Electrofuel AS (“NELF”), a first of a kind developer of technology to produce electric sustainable aviation fuel (“E-SAF”), announces that the Company has signed the EUR 40 million grant from the EU Innovation Fund (“EUIF”) pilot program to support the construction one of the world’s first commercial scale e-fuel production plants, which will be located at Herøya Industrial Park, Porsgrunn, Norway.

«The team here at Nordic Electrofuel is incredibly proud to have been awarded the maximum grant allowance within the EUIF Pilot program, in fierce competition with more than 200 companies from all over Europe”, says Gunnar Holen, CEO of Nordic Electrofuel. “The award confirms Nordic Electrofuel as the pioneer in the development of technology for producing e-fuels, which is the most important alternatives for decarbonization of the aviation industry. Furthermore, it is a tribute to our extraordinary team, which has worked relentlessly to establish a robust foundation and design for one of the world’s first commercial scale production facilities of its kind.“

Scoring 82.5 out of 90,NELF ranks the highest scoring project in our category – A testimony to the technical design and maturity. The scoring is based on the five criteria that are used by the EU to compare and rank Energy Transition projects. The successful projects are then allocated funds, enabling EU to meet its decarbonization targets.

Nordic Electrofuel Awarded EUR 40 million Grant from EU to Build e-SAF Plant in Norway

Nordic Electrofuel AS (“NELF”), a first in kind developer of technology to produce sustainable aviation fuel (“SAF”), announces that the Company has been awarded a EUR 40 million grant from the EU Innovation Fund (“EUIF”) pilot program to support the construction of the worlds first production plant for e-fuels at commercial scale, which will be located at Herøya Industrial Park, Porsgrunn, Norway.

«The team here at Nordic Electrofuel is incredibly proud to have been awarded, the maximum grant allowance within the EUIF Pilot program, in fierce competition with more than 200 companies from all over Europe”, says Gunnar Holen, CEO of Nordic Electrofuel. “The award confirms Nordic Electrofuel as the pioneer in the development of technology to produce e-fuels, which is the most important alternative for decarbonization of the aviation industry. Furthermore, it is a tribute to our extraordinary team, which has worked relentlessly, to create a robust foundation and design for the world’s first commercial production facility of its kind.“

Nordic Electrofuel was founded in 2015, when the concept of e-fuel was more of a curiosity than a reality. Firm in the belief of the benefits of efuels in reducing the climate impact of aviation and other Hard-to-Abate sectors, the Company engaged with the Norwegian University of Science and Technology (“NTNU”). Through this cooperation NELF has developed its proprietary patented technology for reverse Water Gas Shift (rWGS), which is a key driver to improve the energy efficiency and operability for efuel production.

Another step forward on the European eSAF market

Another step forward on the European eSAF market: P2X-Europe and Nordic Electrofuel reach next milestone in collaboration for production of sustainable fuels in Scandinavia

Nordic Electrofuel and P2X-Europe, have today signed a term sheet for long term supply of synthetic fuels, in particular targeting synthetic aviation fuel (eSAF).

Nordic Electrofuel will produce synthetic crude in Norway, which P2X-Europe will take delivery of and upgrade to eSAF and other synthetic products.

Initial production and supply volume is set at around 8,000 tonnes per annum with specific plans for a further scale-up of production thereafter.

RefuelEu Aviation requires initial blending quota of renewable fuels as of 2025 and a specific quota for eSAF from 2030: this legal framework is a clear call for action – for the aviation as well as for future PtL producers and fuel suppliers.