Statkraft acquires Södra's shares in Silva Green Fuel and seeks new partner
(Tofte October 20th 2023) Swedish forest industry company Södra exits ownership in Silva Green Fuel. Statkraft will further develop the technology for advanced biofuels and acquires Södra's 49 percent share in the company. Statkraft is also looking for a new partner to further develop Silva Green Fuel.
For Statkraft, Silva Green Fuel is an important development project within renewable energy and one of six focus areas in Statkraft's strategy for new energy solutions. Statkraft sees significant potential in the technology being developed in the demonstration facility at Tofte in Asker municipality. The technology is considered competitive compared to other biofuel technologies. Strong market growth for biofuels is expected, driven by changing regulations from the EU and national authorities.
Looking for a new partner
Statkraft is now looking for a new partner who will be involved in the further development of Silva Green Fuel and the construction of the first full-scale production plant for biofuel. There is great interest in second-generation biofuels both in Norway and internationally. There are few technologies as advanced as the technology Silva Green Fuel is developing at Tofte.
Södra wants to focus on its core business in the forestry industry and the Swedish domestic market. The company has ambitions to build a biofuel plant in Sweden and intends to become a customer of Silva Green Fuel in the future.
Silva Green Fuel DA was established in 2015 by Statkraft, 51%, and Södra, 49%, with the objective of establishing a future commercial production of advanced second-generation biofuels. In the demonstration facility at Tofte in Asker municipality, the chosen technology is tested. If it is later decided to build a commercial facility, production from one facility alone could reduce annual carbon emissions from the transportation sector by 250,000-375,000 tonnes of CO2.
Advanced second-generation biofuels made from residues from the forest industry will help replace fossil fuels in the transportation sector. Advanced biofuels are based on raw materials produced from residue and waste, for example from the food industry, agriculture, or forestry. These raw materials are not at odds with the production of food or animal feed.
Read more on Silva Green Fuel at www.statkraft.com and www.silvagreenfuel.no.
For more information please contact:
Knut Fjerdingstad, Media Relations Statkraft
+47 901 86 310
knut.fjerdingstad@statkraft.com
About Statkraft
Statkraft is a leading company in hydropower internationally and Europe’s largest generator of renewable energy. The Group produces hydropower, wind power, solar power, gas-fired power and supplies district heating. Statkraft is a global company in energy market operations. Statkraft has 5,700 employees in 21 countries.
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