Fintoil invests more than 100 M€ in a biorefinery in Finland
Type of post: NEWS.
Fintoil Ltd, partly owned by Taaleri, will invest more than 100 M€ in
a crude tall oil (CTO) refinery in Hamina (Finland). CTO is a by-product of
softwood pulp production. The carbon footprint of CTO derivatives is up to 90%
lower than that of comparable fossil alternative products.
Press release: “Fintoil, partly owned by Taaleri,
invests more than EUR 100 million in a biorefinery in Hamina”, 4/2/2020.
Figure 1. The new CTO biorefinery
will be located at the Port
of HaminaKotka
Established in 2017, Fintoil is focused on
refining CTO for 2G biofuel production and the chemicals, food and
pharmaceuticals industries. Fintoil’s key persons have decades of commercial
and investment experience from the CTO industry. Their extensive background has
enabled the company to secure long-term contracts for sufficient raw material
and sales volumes. Fintoil is owned by its key personnel and an investor group
led by Taaleri. For Taaleri, the biorefinery represents a significant
investment in the Finnish industry and expertise which fosters its growth in
impact investing and financing of renewable energy. Taaleri Capital acts as
Fintoil’s financial advisor in the financing of the investment project.
Location
|
Hamina (Finland).
Fintoil
and Port of HaminaKotka have just signed a lease agreement on a site located
in the port area.
|
Feedstock
|
Crude tall
oil.
|
Products
|
More than
60% of the biorefinery’s output will be directed as feedstock to biodiesel
production.
|
Partner
|
Neste
Engineering Solutions Ltd has been commissioned for engineering and delivery
of the project.
|
Timeline
|
- Beginning
of the construction works: As soon as the company has secured the
environmental and building permits (estimated earliest at the end of 2020).
- Start-up:
2022.
|