French company Verso Energy has agreed to build a hydrogen processing plant in Oulu, Finland, as part of its e-sustainable aviation fuel (e-SAF) production plans.
Under a co-operation agreement with the City of Oulu, Verso intends to build a plant capable of producing 80,000 tonnes per year of e-SAF. The hydrogen processing facility will produce hydrogen, which will then be combined with captured CO2 to synthesise e-SAF.
Located in the city’s port area, the plant is expected to be the “largest” of its kind in Finland. Antonie Huard, CEO of Verso Energy, claimed the nation is “very attractive” for e-SAF production, and the Oulu site has “all the qualities to be a very competitive site at the European Level.”
The €1.4bn ($1.5bn) agreement between Verso Energy and the City of Oulu will remain in effect until 2026, during which both parties will finalise the implementation agreement, outlining threshold investments and defining roles and responsibilities.
This is Verso’s first project outside of France. The firm is developing several hydrogen and synthetic fuel plants in its home country.
H2 View understands that the hydrogen-based e-SAF will be distributed to aircraft and marine industries. Starting this year, fuel used at the EU’s largest airports must include a 2% blend of SAF.
Ari Alatossava, Mayor of Oulu, said, “I am glad that Verso’s project has progressed so smoothly. This indicates that our city has a valuable role to play in the green transition.
“I want to thank our experts for their efforts so far and Business Finland for facilitating the contact with Verso Energy.”
