- News article -

Kaidi Finland receives nearly 90 M€ of EU funding for Kemi biofuel refinery

22 Jul 2016

The European Commission has decided to grant EUR 88,5 million of NER 300 investment subsidies for the biofuel refinery planned by Kaidi in Ajos, Kemi. NER 300 is one of the world’s largest funding programmes for innovative low-carbon energy demonstration projects. The application was prepared by Spinverse.

“We are delighted with the commission’s decision. Granting the NER 300 subsidy for the Kemi biofuel refinery, together with the positive message of the European Commission’s summer package, strengthens Kaidi’s opportunities to advance the project significantly. It is also a clear sign that the commission believes in the project, and in the developing biofuel market,” says Pekka Koponen, CEO of Kaidi Finland. The subsidy was initially granted in 2012 for the realization of a biofuel refinery planned by Vapo but the project halted in 2014.

Driving Europe’s transition to a low-carbon economy, European Commission just published new targets for Member States on greenhouse gas emission reductions. The Commission’s package of measures highlights the clear objectives for the advanced biofuels and the mixing obligations in creating the biofuel markets.

“The contents of the summer package and the publication of the mandatory national emission goals show that the European Union is committed to cutting the emissions made by traffic. Advanced biofuels have a key role for Finland in achieving the goals in reducing emissions. The next step is to ensure that the commission’s vision is included in all of the upcoming propositions,” says Koponen.

The total investment for the plant is estimated to be up to EUR 1 billion. Based on the current taxation it is estimated to bring over 200 million euros of annual tax revenues. In addition to hundreds of subcontracting jobs, the refinery would create 150 full-time positions at the refinery once operational. Overall, the construction process will bring about an additional 4,000 man-years of work. Discussions with subcontractors and other stakeholders are ongoing. The final investment decision for the biofuel refinery will be made by the end of 2016.

In addition to the preparation of the application, Spinverse’s role in the biofuel refinery project is to acts as Kaidi’s representative in Finland. Spiverse coordinates the business development, planning, financing and partner selections of the project.

Established in 2016, Kaidi Finland is a renewable energy company, which plans to build a second generation biodiesel refinery in Ajos, Kemi by the end of 2019. Kaidi Finland is owned by one of China’s largest biorefining actors, Sunshine Kaidi New Energy Group. Established in 1992 it currently has biomass-based power plant engineering and operations around China and in Vietnam.
For more information visit www.kaidi.fi

- Contact us -

Want to learn how Spinverse could help you? Contact us now!



Pekka Koponen

Chairman, Founder +358 40 545 0008

- News -

Relevant posts

EU funding webinar

Interesting Business Finland webinar on EU Funding and co-operation on 27th May

20 May 2020

Do you want to deepen your knowledge and understanding on EU funding and co-operation? To continue their int...

startups edtech

Koulu.me campaign raised the awareness of Finnish edtech

14 May 2020

The global outbreak of the COVID-19 virus closed schools worldwide and forced educators to discover distance...

Spinverse News innovation ecosystem

LuxTurrim5G awarded in Traficom 5G Innovation Competition

27 Apr 2020

LuxTurrim5G ecosystem led by Spinverse and Nokia has recently gained outstanding traction by being awarded w...

digitalisation new business Open Innovation

Converging business models - spinning up new 100 M€ businesses

20 Apr 2020

“As the environment gets a breath of fresh air and the planet vibrates less from the world’s greate...

European Funding Public Funding SME

Viewpoint: Boost the EIC Accelerator to rescue Europe’s high potential start-ups

15 Apr 2020

European Working Group of Innovation Consultants (EWGIC) brings together innovation experts to exchange expe...

spinbase webinar

Register now for our Spinbase & EU Funding webinar on 5th of May, 2020!

9 Apr 2020

We cannot allow the current COVID-19 crisis stop innovation - let's carry on regardless! However, identifyin...