Ministry of Economic Affairs and Employment grants major investment aid to Vantaa Energy’s electrofuel plant project
The Ministry of Economic Affairs and Employment has granted about EUR 30 million for investing in a renewable methane production plant in Vantaa Energy’s electrofuel plant project. Vantaa Energy is preparing to invest in the electrofuel plant that produces carbon-neutral synthetic gas out of hydrogen and the carbon dioxide recovered from the flue gas of the Waste-To-Energy Plant. The primary area of use for the synthetic gas produced by the electrofuel plant is in the heavy transport sector in the form of renewable transport fuel, thus accelerating green transition in heavy transport and Vantaa’s carbon neutrality target.
Vantaa Energy is preparing to invest in the electrofuel plant that will produce carbon-neutral synthetic gas by utilising water and carbon dioxide produced in the processing of waste in a new and innovative way. When implemented as planned the facility would produce 80,000 megawatt-hours of synthetic gas per year to be used as transport fuel and in the heating of the Vantaa region in the coldest periods of the winter.
The planned location of the electrofuel plant is in connection with Vantaa Energy’s Waste-To-Energy Plant. The location makes it possible to utilise the waste energy produced in the process as heat. The majority of the synthetic gas would be used as renewable transport fuel in heavy transport. Some of the produced synthetic gas would be utilised in heat production to replace natural gas during periods of high heat demand. Vantaa Energy’s electrofuel plant is a unique project where the transport fuel production and the heating, gas and electricity markets come together in a single project.
– The investment aid granted by the Ministry of Economic Affairs and Employment plays a significant role in enabling Vantaa Energy to implement its plan to phase out the use of fossil fuels in energy production as quickly as possible and proceed towards carbon negativity in 2030. The investment aid will accelerate the technology development of Finnish hydrogen economy and the project offers an industrial-scale development platform for Finnish technology companies to commercialise new technologies in Finland and on the global scale, says Vantaa Energy’s CEO Jukka Toivonen.
Jukka Toivonen, CEO, Vantaa Energy Ltd
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