Circular economy energy company Vantaa Energy progresses towards carbon negativity in 2030
Vantaa Energy is a circular economy energy company. This means combining the circular economy business with the energy business. The synergy of material flows and heat enables eco-efficient energy production with existing raw materials that are unsuitable for recycling. This also creates new business activities for both Vantaa Energy and several of its partners. By combining the circular economy and energy businesses, Vantaa Energy sequesters more carbon dioxide than it releases into the atmosphere, thus progressing towards carbon negativity in 2030.
Vantaa Energy combines the circular economy business with the energy business in its activities. For Vantaa Energy, circular economy means keeping materials in circulation for as long as possible or transforming them into something else. In practice, this means, e.g. storage and utilisation of waste heat, and energy utilisation of raw materials unsuitable for recycling. Circular economy also means processing of carbon dioxide with the aid of green hydrogen for reuse as permanent products that sequester carbon dioxide into material. The energy business, on the other hand, means energy production, heat distribution into homes and properties in Vantaa with the aid of the heating network, as well as energy services that offer extensive solutions for heating and cooling as complete, customer-friendly service packages.
Vantaa Energy is progressing towards carbon negativity by 2030. This takes place in two phases: fossil fuels will be phased out by 2026, followed by progressing towards carbon negativity in 2030. The fossil-free 2026 package consists of the following projects: energy production solutions for the circular economy, Finland’s largest electric fuel plant, and the seasonal heat storage facility for storing, e.g. renewable energy from solar, wind and waste heat sources in the summertime.
When the use of fossil fuels has ended by 2026, Vantaa Energy will continue towards carbon negativity in 2030 with the four main projects. Vantaa Energy’s plans include starting up a plant producing non-carbon biogas in 2026, carbon capture into raw material in 2027, investment in a recycled biocarbon plant in 2027, and refining of carbon dioxide into completely new products in 2029.
– We are more and more clearly a circular economy energy company, i.e. we combine the opportunities of the circular economy with the energy business in an innovative way. This is an excellent combination that enables versatile utilisation of waste heat and materials unsuitable for recycling so that our customers receive more favourably priced energy while we as a company move purposefully towards carbon negativity, says Vantaa Energy’s CEO Jukka Toivonen.