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.