Nordic Ren-Gas Oy has received a €1.5 million R&D loan from Business Finland to accelerate the development of a hydrogen project development platform
Nordic Ren-Gas Oy (Ren-Gas) is developing decentralised production and distribution network of clean P2X gas fuels for the heavy road transport sector. Ren-Gas’ project development business is growing strongly, and the company has already published its first cooperation agreements with local energy companies in the City of Lahti and in the City of Mikkeli. A skilled team paired with scalable tools and processes is key for Ren-Gas in developing several projects in parallel. To support the scalable development of a hydrogen project development platform, Business Finland has granted the company €1.5 million in research and development funding.
The funding received from Business Finland, together with the company’s other financing, enables a rapid scaling of Ren-Gas’ operations. The standardized tools developed during this R&D project enables replication and acceleration of hydrogen projects in Finland and abroad. In addition, the funding promotes the creation of a major Finnish export business for the expanding hydrogen economy.
“Ren-Gas’ business is proceeding as planned, and the company’s growth path is very strong. We have announced our first collaborations with Finnish energy companies, and we will drive these P2X fuel projects towards an investment decision at the same time. The funding granted by Business Finland will enable both new recruitments and the development of standardized development tools while moving our P2X gas fuel production projects forward,” commented Saara Kujala, CEO of Ren-Gas.
“Business Finland strongly promotes the development of the hydrogen economy in Finland and we support laying the groundwork for the international growth of Finnish companies in this growing market. It is important for us to actively promote innovation in new technologies and business activities in Finland, so that domestic competencies can be used in the global fight against climate change. At the same time, of course, we are creating a strong basis for the international export business, which Ren-Gas also targets with its operations,” commented Jussi Åkerberg of Business Finland.