City of Oulu: Finland’s Largest Hydrogen Refining Plant One Step Closer to Starting Sustainable Aviation Fuel Production
13.2.2025 19:30:00 EET | Business Wire | Press release
The City of Oulu, Finland, and French company Verso Energy have signed a co-operation agreement aiming to build a hydrogen processing plant in Oulu. Verso Energy intends to construct a plant with a yearly production capacity of 80 000 tonnes of e-SAF. The estimated value of the project is €1.4 billion, and it is expected to create 250 jobs.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250213216649/en/
The City of Oulu, Finland, and French company Verso Energy have signed a co-operation agreement at the Northern Power forum aiming to build a hydrogen processing plant in Oulu. Signing the agreement strengthens the City of Oulu’s status as a key hydrogen hub in the Nordics. Verso Energy’s plant in the port area of Oulu will be the largest of its kind in Finland so far. In the picture from left to right: Ari Alatossava, Mayor of Oulu, Antoine Huard, CEO of Verso Energy and Marko Mykkänen, CEO, Port Of Oulu. (Photo: City of Oulu)
Signing the agreement strengthens the City of Oulu’s status as a key hydrogen hub in the Nordics. Verso Energy’s plant in the port area of Oulu will be the largest of its kind in Finland so far.
Antoine Huard, CEO of Verso Energy, stated at the Northern Power forum in Oulu that the biggest city within the Arctic region has everything it takes to produce emission-free aviation fuel in an environmentally friendly way.
“Finland is a very attractive country for e-SAF production, and the Oulu site has all the qualities to be a very competitive site at the European level,” Huard says.
“Successful collaboration with the City and Port of Oulu has been key to the project's development, showcasing Finland's potential to combine job creation, industrial growth, and sustainability,” he adds.
Verso Energy has several hydrogen and synthetic fuel plants in pipeline in France, but the plant being planned for Oulu, is among the company’s first projects abroad. Verso Energy offers synthetic fuels for both aircraft and ships.
Starting this year, fuel used at the EU's largest airports must include a 2% blend of sustainable aviation fuel (SAF). Currently, there are no SAF production plants in Finland.
The agreement ensures that the City of Oulu will advance the zoning of the Port of Oulu’s green transition industrial area, aligning the requirements and goals of both the Verso Energy and the city.
Marko Kilpeläinen, Director of Urban Environment Services for the City of Oulu, highlights fluent co-operation as Finland’s strength in attracting green transition investments.
"In Finland, the zoning process can run parallel to a company's project planning, offering more flexibility compared to some other countries," Kilpeläinen points out.
The co-operation agreement remains in effect until the end of 2026, during which both parties work toward the implementation agreement, defining threshold investments and the division of responsibilities.
"I am glad that Verso's project has progressed so smoothly. This indicates that our city has a valuable role to play in the green transition. I want to thank our experts for their efforts so far and Business Finland for facilitating the contact with Verso Energy,” says Ari Alatossava, Mayor of Oulu.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250213216649/en/
Contacts
Media Contacts for further inquiries:
Verso Energy:
Ms. Stéphanie Lefebvre-Oustry
slefebvre@aromates.fr
+33 6 11 47 48 83
City of Oulu:
Mr. Marko Kilpeläinen
Director of Urban Environment Services
marko.kilpelainen@ouka.fi
+358 40 5133650
BusinessOulu:
Mr. Janne Hietaniemi
Key Account Director
janne.hietaniemi@businessoulu.com
+358 40 649 1211
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
www.businesswire.com
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Access Advance Welcomes Meta Platforms, Inc. and Alibaba Group to the Video Distribution Patent Pool3.7.2026 02:00:00 EEST | Press release
Access Advance LLC today announced that Meta Platforms, Inc., one of the world's largest distributors of video content across its Facebook, Instagram, Threads, and WhatsApp services, has joined the Video Distribution Patent Pool (VDP Pool) as a Licensee. Meta also joined both the HEVC Advance and VVC Advance pools as a Licensee. Alibaba Group, whose video infrastructure spans a wide range of video-based services across e-commerce, entertainment, and digital media platforms, was also announced as a VDP Pool Licensee this week. Meta and Alibaba joining the VDP Pool further reinforces the program’s market leading position in resolving the licensing issues around the use of modern video codecs, including VP9, AV1, HEVC and VVC, across all the diverse business models of internet video streaming. "A significant U.S.-based company like Meta joining as a Licensee is a milestone moment for the content distribution business and the VDP Pool," said Peter Moller, CEO of Access Advance. "Meta reach
Kioxia Commences Sample Shipments of 10th-Generation BiCS FLASH™ Devices Delivering High Performance, High Capacity and Low Power Consumption3.7.2026 02:00:00 EEST | Press release
Kioxia Corporation, a world leader in memory solutions, today announced that it has commenced sample shipments of 1Tb (terabit) Triple-Level-Cell (TLC) memory devices utilizing its 10th-generation BiCS FLASH™ 3D flash memory technology.1 These will be primarily integrated into the company’s enterprise and data center SSDs, strengthening Kioxia’s lineup to meet the growing demand for AI storage, which requires higher performance, higher capacity, and lower power consumption. These new products will be manufactured using state-of-the-art equipment at Kioxia’s Kitakami Plant Fab2 facility in Iwate Prefecture, Japan. By leveraging innovative CMOS directly Bonded to Array (CBA) technology2 and On-Pitch Select Gate Drain (OPS) technology,3 both adopted since the 8th-generation BiCS FLASH™, the 10th-generation technology achieves a NAND interface speed of 4.8 Gb/s,4 a 33% improvement over the 8th generation. Bit density has increased by 59% by stacking 332 layers and improving lateral density
Bending Spoons S.p.A. announces closing of initial public offering2.7.2026 21:35:00 EEST | Press release
Bending Spoons S.p.A. (“Bending Spoons”), a leading technology company, today announces the closing of its initial public offering of an aggregate of 57,971,015 of its ordinary shares, at an initial public offering price of $29.00 per share. The offering consisted of 34,398,640 shares sold by Bending Spoons and 23,572,375 shares sold by certain selling shareholders (the “Selling Shareholders”). The gross proceeds from the offering to Bending Spoons, before deducting underwriting discounts and commissions and other offering expenses, was approximately $953,917,285.50. Bending Spoons did not receive any proceeds from the sale of shares by the Selling Shareholders. Bending Spoons’ ordinary shares began trading on the Nasdaq Global Select Market on July 1, 2026 under the ticker symbol “BSP”. Goldman Sachs International, J.P. Morgan, and Allen & Company LLC are acting as joint lead book-running managers for the offering. Wells Fargo Securities, BofA Securities, Jefferies, Evercore ISI, BNP
Strategic Partnership Between Record Asset Management and Admicasa2.7.2026 20:00:00 EEST | Press release
RAM Swiss Holding AG is a subsidiary of LSE-listed Record Financial Group (Record) and part of the Record Asset Management (RAM) group of companies. The partnership is a milestone in the growth of Admicasa and marks an important step in the continued expansion of Record’s private markets platform. Subject to regulatory approval, the agreement, signed on 1st July 2026, provides RAM Swiss Holding AG with a 50% participation in the Admicasa Fondsleitung AG, part of Admicasa, and establishes a long-term partnership to develop investment opportunities in the Swiss and Global real estate market with a plan to expand into other asset classes in the medium term. RAM is the European asset management arm of Record, the LSE-listed specialist investment group managing USD 115 billion of assets on behalf of institutional clients worldwide. Record's client base comprises pension funds, foundations, sovereign institutions and other asset managers, with whom it has built long-standing relationships th
IQM Quantum Computers Becomes First European Quantum Computing Company Listed on a Major U.S. Exchange2.7.2026 17:47:00 EEST | Press release
IQM Quantum Computers (Nasdaq: IQMX) (“IQM”, “IQM Quantum Computers” or the “Company”), a global leader in full-stack superconducting quantum computers, today became a publicly traded company following the completion of its business combination with Real Asset Acquisition Corp. (“RAAQ”). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260702960460/en/ IQM Quantum Computers Becomes First European Quantum Computing Company Listed on a Major U.S. Exchange The company’s American Depositary Shares begin trading today on the Nasdaq Global Select Market under the ticker symbol “IQMX”. The listing marks a major milestone for IQM establishing the company as the first European quantum computing company listed on a major U.S. stock exchange. Due to the proceeds of the transaction, IQM maintains a strong pro forma cash position of EUR 337 million. IQM enters the public markets with strong commercial momentum and a rapidly expanding globa
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom