French company Verso Energy has signed an agreement to build a hydrogen processing plant in Oulu, Finland, as part of its e-sustainable aviation fuel (e-SAF) production plans.
Under the cooperation agreement with the City of Oulu, Verso Energy aims to construct a facility capable of producing 80,000 tonnes per year of e-SAF. The plant will generate hydrogen, which will then be combined with captured CO₂ to synthesize the fuel.
Located in the city’s port area, the facility is expected to be the largest of its kind in Finland. Antonie Huard, CEO of Verso Energy, highlighted Finland’s attractiveness for e-SAF production, stating that the Oulu site possesses “all the qualities to be a very competitive site at the European level.”
The €1.4 billion ($1.5 billion) agreement will remain in effect until 2026, during which both parties will finalize an implementation plan detailing threshold investments, roles, and responsibilities.
This marks Verso Energy’s first project outside France, where it is already developing multiple hydrogen and synthetic fuel plants.
The hydrogen-based e-SAF will be supplied to the aviation and maritime industries. Starting this year, fuel used at the EU’s largest airports must include a minimum 2% blend of SAF.
Ari Alatossava, Mayor of Oulu, welcomed the project’s progress, emphasizing the city’s role in the green transition. He also acknowledged the contributions of local experts and Business Finland in facilitating the partnership with Verso Energy.