Major funding from Business Finland for Neste and Solar Foods' hydrogen projects

Business Finland has granted a total of over 60 million euros in funding for Finnish green hydrogen projects.

Neste Corporation's Ipcei project will receive 27,7 million euros and Solar Foods Oy's 33,6 million euros.

Ipcei is an acronym for Important Project of Common European Interest.

The EU Commission granted Ipcei status to both Neste and Solar Foods' projects in 2022.

Finland will participate in the Ipcei initiative with three projects. The decision on the third project will be made in early 2023.

The aim of the Hydrogen Ipcei projects is to develop and accelerate the production and use of clean hydrogen in Europe. Finland aims to be a pioneer in the hydrogen economy.

From fuels to proteins

In its Ipcei project, Neste develops and implements solutions for the production of green hydrogen and the further utilization of hydrogen in the company's refinery processes.

Solar Foods utilizes green hydrogen produced by electrolysis and captured carbon dioxide in its food protein production process. In its Ipcei project, the company is preparing its industrial-scale plant, the first phase of which is a demonstration plant to be built in Vantaa.

Hydrogen projects contribute to Finland's goal of carbon neutrality by 2035. Thanks to the funding, Finnish companies can become part of Europe's strategic value chains and further into global markets.

Funded projects must comply with the EU climate criteria and the do no significant harm (DNSH) principle, which means that investments must not cause significant harm to environmental objectives.

Text: Päivi Ikonen/ Kemiamedia.fi

Photo: Solar Foods. According to Solar Foods, protein produced from atmospheric carbon dioxide can be utilized in a wide variety of foods.