Green North Energy receives EUR 2.3 million in R&D funding from Business Finland for the development of green hydrogen and ammonia production
Business Finland has awarded R&D funding to Green North Energy, a pioneer of green ammonia production in Finland. With the loan, the company is developing a green hydrogen and ammonia production concept. The company plays an important role in Finland’s security of supply and green transition.
Elomatic Oy’s project development company Green North Energy is developing a scalable production concept for green hydrogen and ammonia. To promote this, Business Finland has granted the company EUR 2.3 million in research and development funding. The company already has letters of intent with Turun Seudun Energiantuotanto Oy, as well as with Wärtsilä and Meriaura.
Green North Energy contributes significantly to the green transition by using hydrogen products made from renewable energy to replace climate-damaging fossil fuels, while creating jobs in the green transition.
There is a huge market for green ammonia in the fertilizer industry, for example. So far, most of Europe’s ammonia has been imported from Russia. Refining hydrogen into ammonia is also profitable because transporting hydrogen as such around the world is very challenging. Green ammonia is, therefore, an excellent fuel for marine transport.
Green North Energy intends to set up the first green ammonia production plant in Naantali.
“Our project is progressing according to plan and the concept design phase has already started. With the funding that we now receive from Business Finland, we can proceed at full speed,” says Jussi Ylinen, Managing Director of Green North Energy.
“Green North Energy is a great example of the versatile use of the hydrogen economy. At Business Finland, we want to promote similar projects in Finland and create a foundation for international growth in this fast-growing market,” says Ulf-Erik Widd, Account Lead at Business Finland.
For further information, please contact:
Jussi Ylinen
Managing Director, Green North Energy Oy
tel. +358 40 577 2430
jussi.ylinen@greennorth.energy
Established in 2021, Green North Energy is a green energy project development company, which enables the operation of green hydrogen and ammonia plants. The largest business owners of the company are the consulting and engineering company Elomatic Oy and Flexens Oy Ab. The company will build a green hydrogen and ammonia production plant in Naantali in the coming years.