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.

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