Nordic Electrofuel

About Nordic Electrofuel

Nordic Electrofuel, established in 2015, is positioned to address the decarbonization of hard-to-abate transport sectors, with a primary focus on aviation. The company was founded by Norwegian entrepreneur Rolf Bruknapp, who brings two decades of experience from the hydroelectric industry. He is joined by CEO Gunnar Holen, a former investment banker with a background in corporate finance and M&A, and CTO Bjørn Bringedal, who adds extensive experience from the chemistry industry.

The firm is developing electro-fuels (e-fuels), specifically Sustainable Aviation Fuel (e-SAF), through a Power-to-Liquid (PtL) process. This method utilizes renewable electricity, water, and captured carbon dioxide to produce liquid hydrocarbons that are designed to be a direct replacement for conventional jet fuel. The resulting e-fuel is sulphur-free and produces significantly fewer particulates and aromatics, addressing both climate impact and local pollution. A key attribute of the company's product is its compatibility with existing aircraft engines and fueling infrastructure, which bypasses the need for substantial capital expenditures by airlines and airports. The business model is centered on developing, building, and operating e-fuel plants, starting in Norway and expanding across Northern Europe and potentially the Middle East.

A core component of Nordic Electrofuel's strategy is its proprietary technology. In collaboration with the Norwegian University of Science and Technology (NTNU), the company has developed and patented a reverse Water Gas Shift (rWGS) reactor technology. This technology is engineered to offer 20-30% lower electricity consumption compared to existing methods, a critical factor for commercial viability. The firm's competitive edge is built on leveraging Norway's low-cost renewable electricity, its patented technology, and strategic site selection at Herøya Industrial Park, which provides essential utilities and infrastructure.

Significant milestones mark the company's progress. In July 2023, Nordic Electrofuel was awarded a EUR 40 million grant from the EU Innovation Fund to support the construction of its first commercial-scale plant in Porsgrunn, Norway. This initial facility, with a planned capacity of 8,000 tonnes (approximately 10 million liters) per year, is scheduled to commence production in 2026. The company has secured a long-term offtake agreement with P2X Europe for the synthetic crude produced at this plant, which P2X will upgrade into e-SAF and other products. Looking forward, Nordic Electrofuel has a roadmap to build additional plants and reach a production capacity of one billion liters annually within a decade. The company has also signed Memorandums of Understanding (MoUs) for potential large-scale production development in Saudi Arabia and Oman.