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WÄRTSILÄ BOOSTS INVESTMENT IN CARBON CAPTURE FOR RENEWABLE FUEL

WÄRTSILÄ BOOSTS INVESTMENT IN CARBON CAPTURE FOR RENEWABLE FUEL

Tuesday, March 2, 2021 

Wärtsilä has invested a further €1m in Soletair Power, a Finnish CO2 direct air capture technology company, which has developed a solution for capturing CO2 from air in buildings that can be used when creating synthetic renewable fuel.

This latest investment, adding to Wärtsilä’s original €500,000 stake from 2019, enables Soletair Power to further its global sales efforts and to scale up the manufacturing of its CO2 capture solution. Wärtsilä says this enhances its position at the forefront of decarbonisation technology. In addition to producing synthetic renewable fuels, the carbon captured from air can be used for various industry applications.

The direct air capture of CO2 is an essential element of the efforts towards decarbonisation. Soletair Power’s technology is the first with building integration, which opens a unique business case with several value streams. Capturing CO2 from in-house air allows occupants to perform better, e.g. in schools and workplaces. The solution also turns buildings into carbon sinks that support cities going carbon neutral, forming a circular economy.

Petri Laakso, CEO of Soletair Power, said: “Wärtsilä and Soletair Power are both committed to creating a sustainable future through technology development. Cooperating with Wärtsilä has been very fruitful and they have supported our development beyond the typical investor role. This latest Wärtsilä investment will play an important role in allowing us to meet the growing demand for cost-efficient and carbon-neutral solutions.”

“One of the cornerstones of Wärtsilä’s Smart Energy vision is to collaborate with strategic partners, such as cutting-edge technology companies, research institutes and start-ups, to accelerate innovation and promote the commercialisation of new and exciting solutions. By supporting new businesses that can create a leap forward towards decarbonising our world, we are endorsing the commitment the company has made to sustainability and the transition towards a 100% renewable energy future. Soletair Power has already demonstrated how the captured CO2 can be turned into synthetic renewable fuels, and there are many other interesting applications under development in different industries for its utilisation,” said Matti Rautkivi, Director, New Business, Wärtsilä Energy.

Wärtsilä, together with Soletair Power and Q Power, a Finnish company specialising in synthetic fuel technologies, developed the first demonstration unit producing synthetic methane from captured CO2 in 2020.

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