Norsk e-Fuel secures €150m tax credits for Rauma project in Finland

Norsk e-Fuel AS announced it has been awarded a positive funding decision under Business Finland’s Tax Credit for large clean transition investments scheme for its Finnish subsidiary Norsk e-Fuel Rauma Oy.

“Finland’s policy and funding framework gives e-Fuel projects the predictability needed to move forward. That support is essential for companies like ours to bring industrial-scale solutions to market. And in addition, it strengthens Finland’s leading position in shaping a future powered by sustainable fuels,” said Ida Marie Larsen, funding and public affairs manager at Norsk e-Fuel.

The decision grants the project up to €150m in tax credit support once the facility enters operation.

The Tax Credit Scheme by Business Finland is a public funding mechanism to support major clean transition investments through tax relief.

For Norsk e-Fuel Rauma Oy, the tax credit will be deducted from the company’s income tax starting from the year the plant starts operation and may be applied over a period of up to 19 tax years.

Located on Finland’s western coast, Project Rauma will increase the supply of synthetic aviation fuels across Finland and Europe. The planned large-scale power-to-liquid facility will convert fossil-free electricity, water and captured CO2 into synthetic fuels for aviation.