Statkraft and Södra form biofuels company
17.02.2015 12.49 | pressrelease
(Lysaker/Tofte, 16 February 2015) Statkraft and Södra have formed a company to establish future production of second generation biofuels. Named Silva Green Fuel AS, ownership of the company is split between Statkraft (51%) and Södra (49%). Biofuels can be an important contribution towards achieving national and international targets to reduce greenhouse gas emissions from the transport sector.
The new company's first task is to find a cost-effective technology for commercial industrial production of second-generation biofuels based on forestry raw materials. At the same time, a future focus will depend the facilitation of increased use of biofuels by the authorities through tax changes and attractive incentives.
"Statkraft considers biofuels to be an exciting business development in renewable energy. The partnership with Södra, through Silva Green Fuel AS, is a good foundation for studying innovative technologies," says Christian Rynning-Tønnesen, CEO of Statkraft.
"Södra is following, with great interest, the technological developments and business opportunities arising from the utilisation of forestry raw materials for industrial production of carbon-neutral fuel. We also have had a good experience from our previous partnership with Statkraft and look forward to uniting the two companies' expertise and experience in this project," says Lars Idermark, CEO of Södra.
Will purchase factory site at Tofte
Statkraft has acquired all of the shares in Södra Cell Tofte AS, which owns the former factory site at Tofte. Located in Eastern Norway, the industrial area has an established infrastructure and a deep water quay for handling large quantities of wood. Statkraft therefore also plans to sell biomass from Tofte to existing biofuel power plants in neighbouring countries.
Statkraft is a leading company in hydropower internationally and Europe's largest generator of renewable energy. The Group produces hydropower, wind power, gas power and district heating and is a global player in energy market operations. Statkraft has 3700 employees in more than 20 countries.
Södra is a group with extensive forestry operations and a leading producer of paper pulp, sawn timber and bioenergy. The Group is owned by 50,000 forest owners in southern Sweden, has 3,500 employees and revenue of SEK 17 billion
For further information:
Press spokesperson in Statkraft, Knut Fjerdingstad
Tel.: +47 901 86 310
Managing Director in Södra Tofte AS Christen Grønvold-Hansen
Tel.: +46 70 646 33 37