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.

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.

Popular Posts

Biofuels from algae

Hidrotratamiento (HVO) – Conceptos, materias primas y especificaciones

Biorrefinerías de ácido levulínico

Etanol celulósico – Lo básico: Conceptos y materias primas

Gasificación de licor negro: El caso de Chemrec y la LTU