Tesi joins Norsk e-Fuel’s shareholder group to advance eSAF production
- Norsk e-Fuel
- Jul 11
- 2 min read
Norsk e-Fuel announced July 9 that Finnish Industry Investment Ltd. (Tesi) has become a new investor in its mission to industrialize eFuel production in the Nordics.
The state-owned investment company joins Norsk e-Fuel’s shareholder group to support the scale-up of sustainable aviation fuel (SAF) production and strengthen the development of clean-energy solutions across Northern Europe.
Tesi is a market-driven investor that, with its recently renewed investment strategy, has the means to make larger individual investments than before.
Such investments can be made in scale-ups and in new industrial projects in Finland.
The investment in Norsk e-Fuel reflects this strategy, with the company driving fossil-free fuel production projects in Rauma and Imatra, Finland.
By acting as a local anchor investor, Tesi attracts private capital and provides credibility to projects in the eyes of international investors, in addition to financing.
Tesi makes its initial investment in the company as part of the funding round led by Prime Capital earlier this year, joining prominent co-investors including among others Paul Wurth (SMS group), Norwegian and Sunfire.
“Welcoming Tesi as a shareholder marks another important milestone in our growth strategy and specifically our expansion into Finland, which we initiated last year,” said Lars Bjørn Larsen, the managing director at Norsk e-Fuel. “Tesi’s strong regional presence and deep experience in scaling industrial and sustainable ventures make them an ideal partner as we advance our project pipeline in Finland and beyond. This collaboration not only strengthens our ability to realize commercial eFuel production but also reinforces our commitment to building local partnerships that accelerate the energy transition.”
Norsk e-Fuel aims to industrialize power-to-liquid (PtL) production through the development of commercial-scale eFuel facilities, delivering sustainable alternatives to fossil-based jet fuels.
By 2032, the company plans to commission at least three plants capable of producing over 200,000 tons of synthetic fuel annually.
This will significantly contribute to reducing aviation emissions in Europe.
“Under its new investment strategy, Tesi can also invest in new industrial-scale projects to help establish new industry in Finland that utilizes clean electricity and supports the energy transition,” said Esa Koponen, investment director at Tesi. “The Norsk e-Fuel project in Rauma, which promotes the sustainability of air travel and Finland’s energy security, is an excellent example of an investment aligned with our new strategy.”
With this partnership, Norsk e-Fuel strengthens its investor base, creating a powerful coalition to advance the commercial deployment of eFuels in the Nordics and Europe.
According to Norsk e-Fuel, the collaboration underscores the shared vision of building a climate-resilient future through innovation and cross-border cooperation.
