Nordic Electrofuel

📍 Porsgrunn, Norway🗓 Founded 2015👥 14 employees💰 Last funded Nov 2021
Renewable Energy Semiconductor Manufacturing🌐 nordicelectrofuel.no
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Nordic Electrofuel offers a solution for rapid transition from fossil to renewable electrical energy for all transport sectors. It is based on conversion of renewable electric energy into liquid electro-fuels than can be as easily transported, stored and used like conventional fossil hydrocarbons. It also provides a good solution to distribute and store stranded electrical energy. PTL (Power To Liquid) has been considered too expensive, but with the low electricity price in Norway and new efficient processing and upgrading solutions, it has become commercially feasible. Electrification of transportation is required to avoid catastrophic climate change. Battery- or cable-electric solutions are however not feasible for means of transport like aviation and long distance marine transport. Liquid energy carriers such as biofuels are desperately needed but limited. The fuel is free of sulphur and can therefore be used maritime industry as a fuel after 2022. The fuel emits much less particles and aromatics than conventional fossil fuel, so it also solves the problem of local pollution. Competitive advantages: • Norway’s low electricity price from hydro and lately also wind power. • 20 - 30 % lower electricity consumption than with existing technology • Lower production price than advanced biofuels • Agreements in place for a site at Herøya, which has all utilities (cooling water, cheap renewable electricity, etc.) and processing expertise available. • About the same source to shaft efficiency as with hydrogen, but with much lower total CAPEX due to no investment in distribution systems and in engines.
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2015
Founded

Investors

1 investors
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Investor geography1 country
France
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Frequently asked questions
Who invested in Nordic Electrofuel?
Nordic Electrofuel has 1 investors on record on gritt.io and 1 late-stage investors.
When did Nordic Electrofuel last raise funding?
The most recent investment in Nordic Electrofuel recorded on gritt.io was in November 2021.
When was Nordic Electrofuel founded?
Nordic Electrofuel was founded in 2015.
What industry is Nordic Electrofuel in?
Nordic Electrofuel operates in Renewable Energy Semiconductor Manufacturing. Find similar Renewable Energy Semiconductor Manufacturing investors on gritt.io.
Where is Nordic Electrofuel based?
Nordic Electrofuel is headquartered in Porsgrunn, Norway.