NextFuel signs agreement with Taaleri

(Stockholm, May 3, 2021): NextFuel AB and Taaleri Plc have signed an agreement giving Taaleri the right to license NextFuel’s new torrefaction technology in their planned biocoal project in Joensuu, Finland, and in other future projects.

“We are pleased that Taaleri has chosen NextFuel as their technology partner, and we look forward to working closely together with them during this project. The agreement is a major milestone on our roadmap to get companies all over the world to use our superior technology to make a profitable clean successor to fossil fuels”, says CEO in NextFuel AB, Stefano Romano.

NextFuel’s new torrefaction technology makes it possible to produce a clean copy of coal in less than 30 minutes. The new fuel can be produced from a large variety of abundant biomass raw materials, including forestry residues, elephant grass, bagasse and other types of fast growing energy crops, that can be grown on marginal land not suitable for food production. The energy content is similar to coal (22-28 GJ/t), and the briquettes can be used directly in existing energy infrastructure, making it possible to fast and inexpensively phase out coal with a clean alternative. This new fuel is carbon neutral, and can even be carbon negative, depending on the type of crop used and local conditions. NextFuel’s business plan is to license this technology to companies all over the world.

Taaleri announced last December that they were preparing to build its first biocoal plant in Joensuu, Finland, on Savon Voima Oyj’s power and heat plant site. Taaleri Plc also plans to build more biocoal plants in the future, likely in Europe and North America.

It is estimated that the biocoal plant will commence operations in 2022. Joensuun Biohiili Oy will build and operate the plant and NextFuel AB will provide the process technology for the plant. The companies have also agreed for an option for possible future projects. NextFuel will receive a licensing fee per tonne produced, and has also been given the opportunity to co-invest and take equity positions in this and other possible future Taaleri projects.

By utilizing NextFuel’s torrefaction technology, we believe this gives us a clear competitive edge in the biomass industry, this agreement will strengthen our project even further, says Taaleri Plc CEO, Robin Lindahl.

For further information, please contact:

Stefano Romano, CEO,
NextFuel AB
+46 70 860 62 99,
stefano.romano@nextfuel.com

Robin Lindahl, CEO, Taaleri Plc,
+358 50 595 9616,
robin.lindahl@taaleri.com

About NextFuel AB:
NextFuel AB is a Scandinavian clean tech company, with HQ in Stockholm, branch offices in Oslo and Vienna, and a full scale pilot/demonstration plant in Frohnleiten, Austria. NextFuel announced at COP24 in December 2018 a technological breakthrough within the renewable energy industry. This unique torrefaction technology can transform tall, fast growing grasses, bagasse, waste wood and other types of abundant biomass into a profitable and clean copy of coal in less than 30 minutes. NextFuel briquettes can replace coal directly in today’s energy infrastructure at very competitive prices, and even be used to replace heating oil, charcoal and be clean back-up power for wind and solar. NextFuel was ranked as one of the top 3 clean tech startups in the world at the Green Awards in Berlin in 2019. NextFuel’s vision is to give the world a clean successor to fossil fuels. Learn more about our new technology at www.nextfuel.com 

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