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Significant regional support for Scandinavian biorefinery project

The Olvi Foundation (OF) has decided to join in the funding of Green Fuel Nordic’s (GFN) biorefinery project.

The decision will represent one of the most significant capital investors into the biorefinery project according to OF CEO Timo Saarelainen.

GFN has spent the last 12 months making different players more aware of bio-oil, its production, applications and benefits. Its board believes the investment commitment of a major capital investor in the project is a signal to all the other players of the strong intent to invest in the future of Scandinavia.

‘We will now continue with the next planning phase for the biorefineries; this phase will include strengthening the project organisation, recruiting key people, and other permit processes. We are currently experiencing a great industrial revolution and our journey to the future bio-economy society will continue to be at least as interesting as it has been so far,’ adds GFN CEO Timo Saarelainen.