Tesi invests in Norsk e-Fuel – Sustainable aviation fuel production planned for Finland
Norsk e-Fuel, a project developer for e-Fuel plants to produce sustainable aviation fuel, has secured an investment from Tesi to support the company’s growth. In addition to other projects in the Nordics, Norsk e-Fuel has announced two projects in Finland. Tesi makes its initial investment in the company as part of the funding round led by Prime Capital earlier this year, joining prominent co-investors including, among others, Paul Wurth (SMS group), Norwegian, and Sunfire.
The expansion into Finland is part of Norsk e-Fuel’s broader Nordic growth strategy and its mission to reduce aviation emissions across Europe. In addition to the more advanced project in Rauma, the company is also planning a second production facility in Imatra. The fuel that Norsk e-Fuel will produce is a synthetic fuel made from hydrogen and CO2 using fossil-free electricity.
“Tesi’s strong experience in scaling industrial and sustainable ventures make them an ideal partner as we advance our project pipeline in Finland and beyond,” says Lars Bjørn Larsen, CEO of Norsk e-Fuel.
“Under its new investment strategy, Tesi can also invest in new industrial-scale projects to help establish new industry in Finland that utilizes clean electricity and supports the energy transition. The Norsk e-Fuel project in Rauma, which promotes the sustainability of air travel and Finland’s energy security, is an excellent example of an investment aligned with our new strategy,” explains Esa Koponen, Investment Director at Tesi.
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Additional information:
Esa Koponen, Investment Director, Industrial Investments
esa.koponen@tesi.fi
+358 50 577 9166
Tesi (officially Finnish Industry Investment Ltd) is a state-owned, market-driven investment company that invests in venture capital and private equity funds and directly in Finnish startups and growth companies, and to new industrial scale businesses. tesi.fi | X (Twitter) | LinkedIn | Instagram | Bluesky | Threads | Newsletter