Statkraft transfers Silva Green Fuel technology to Silva Biofuel
- Statkraft transfers accumulated HTL technology expertise and a demonstration facility from Silva Green Fuel to Silva Biofuel AS, a new company owned by former employees.
- Joakim Sværen is appointed CEO of Silva Biofuel AS.
- The work has received support from Enova and targets advanced biofuels as a route to significant emissions reductions in hard-to-abate sectors.
- The transaction is subject to regulatory approval and Silva Biofuel is inviting investors to help mature the technology and realise commercial plants in the years ahead.
Strategic refocus and divestment
As part of a new strategy prioritising profitable growth in established technologies such as hydropower, solar, wind and battery solutions in core markets, Statkraft reduced the number of technologies in its portfolio and sought new owners for its biofuel activities at Silva Green Fuel.
Transfer to former employees
Under the agreement, Statkraft will transfer accumulated technological expertise and the demonstration facility to Silva Biofuel AS, a new company owned by former employees of Silva Green Fuel DA. Joakim Sværen has been appointed CEO of the new company.
Technology, support and next steps
Silva Biofuel will step up investment in hydrothermal liquefaction (HTL) technology, which has attracted international attention as an option for emissions reductions in hard-to-abate sectors. The development work has received support from Enova. Silva Biofuel is inviting investors to join further maturation with the ambition to realise commercial plants in the years ahead. The transaction is subject to regulatory approval.
Source: Statkraft