Finnish biofuel producer Fintoil invests €100 million in biorefinery
Fintoil, a biofuel producer based in Finland that is partly owned by investment company Taaleri, has invested over €100 million in a biorefinery in Hamina, Finland.
The company plans to build a crude tall oil refinery in Hamina, having recently signed a lease agreement with the Port of HaminaKotka for a site located in the Hamina oil port area.
Neste Engineering Solutions has been commissioned for engineering and delivery of the biorefinery. Construction of the facility is expected to begin as soon as Fintoil secures the environmental and building permits, which is estimated for the end of 2020 at the earliest.
Crude tall oil is a by-product of softwood pulp production; derivatives of the oil have up to 90% lower carbon footprint than that of comparable fossil fuel alternatives.
More than 60% of the output from the biorefinery will be used as feedstock in the production of biodiesel. Fintoil’s experienced executives have helped the company secure long-term contracts for sufficient raw material and sales volumes.
John Lindahl, who is chair of the company, has worked in the pulp and paper industry on the management of investment projects, including at UPM-Kymmene, Madison Paper, Pöyry and Metsä Group. Most recently, Lindahl was group technical and sustainability director and member of the executive committee at Mondi Group.
Jukka Ravaska has been appointed as managing director of Fintoill; Ravaska has an extensive background in the specialty chemicals industry from management and executive positions, including roles held at Solvay, Akzo Nobel, Kraton and Forchem.
Fintoil’s biorefinery represents a significant investment in the Finnish industry for Taaleri, fostering its growth in impact investing and financing of renewable energy.
The company plans to build a crude tall oil refinery in Hamina, having recently signed a lease agreement with the Port of HaminaKotka for a site located in the Hamina oil port area.
Neste Engineering Solutions has been commissioned for engineering and delivery of the biorefinery. Construction of the facility is expected to begin as soon as Fintoil secures the environmental and building permits, which is estimated for the end of 2020 at the earliest.
Crude tall oil is a by-product of softwood pulp production; derivatives of the oil have up to 90% lower carbon footprint than that of comparable fossil fuel alternatives.
More than 60% of the output from the biorefinery will be used as feedstock in the production of biodiesel. Fintoil’s experienced executives have helped the company secure long-term contracts for sufficient raw material and sales volumes.
John Lindahl, who is chair of the company, has worked in the pulp and paper industry on the management of investment projects, including at UPM-Kymmene, Madison Paper, Pöyry and Metsä Group. Most recently, Lindahl was group technical and sustainability director and member of the executive committee at Mondi Group.
Jukka Ravaska has been appointed as managing director of Fintoill; Ravaska has an extensive background in the specialty chemicals industry from management and executive positions, including roles held at Solvay, Akzo Nobel, Kraton and Forchem.
Fintoil’s biorefinery represents a significant investment in the Finnish industry for Taaleri, fostering its growth in impact investing and financing of renewable energy.
Loading ...
