SUBSCRIBE
PROFILE

Neste supported by the European Union

Neste receives EU funding for renewable hydrogen projects in Porvoo, Finland.

Share:

Gain full professional access to energynews.pro from 4.90$/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90$/month*

No commitment – cancel anytime, activation in 2 minutes.

START NOW — 4.90$/month

*Special launch offer: 1st month at the indicated price, then 14.90 $/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99$/year*

To access all of energynews.pro without any limits

SUBSCRIBE — 99$/year

*Introductory annual price for year one, automatically renewed at 149.00 $/year from the second year.

Sign up for free to unlock this article

Neste receives EU funding for renewable hydrogen projects in Porvoo, Finland.

An IPCEI project

Neste receives €27.7 million in EU funding for renewable hydrogen projects at Porvoo refinery. The objective is to develop solutions for the production of renewable hydrogen. In addition, in July 2022, the company was the first Finnish company to receive IPCEI status from the European Commission.

Obtaining IPCEI (Important Project of Common European Interest) status allowed Neste to apply for public funding. EU IPCEI projects promote the EU’s strategic objectives. In addition, they support common interests by supporting innovation projects in different member states.

Political support

The grant decision for the Porvoo refinery is part of the first wave of the Union’s IPCEI hydrogen projects. The objective is to develop and accelerate the production and use of renewable hydrogen throughout Europe. In addition, projects related to the hydrogen economy value chain are part of the Finalnde’s sustainable growth program.

Outi Ervasti, vice president of renewable hydrogen at Neste, says:

“Neste’s goal is to strengthen the European hydrogen value chain and be at the forefront of the production and development of renewable hydrogen solutions. This grant will have a significant impact on the progress of our green hydrogen projects in today’s challenging business environment. We would like to thank the Finnish Ministry of Economic Affairs and Employment and Business for the funding and their support in the application process.”

In September 2022, Neste launched a strategic study on the long-term transition of its Porvoo refinery. The company aims to make the refinery a global site for renewable and circular solutions.

  • Popular on energynews.pro
Orazul Energy launches cash tender offer for its 2027 notes
Iraq in talks with ExxonMobil for refining capacities in Asia
Greek shipowners cut Russian crude links under new compliance rules
Envision Energy signs exclusive agreement for 4.5 GW wind project in Turkey
NatPower Marine and Wah Kwong launch electric port network across 30 Asian ports
Electric Hydrogen acquires Ambient Fuels and unlocks $400 mn for global projects
Electric Hydrogen announces the acquisition of Ambient Fuels and an alliance with Generate Capital to offer up to $400 mn in hydrogen project financing worldwide starting in 2026.
Hynfra signs $1.5bn framework agreement for green ammonia in Mauritania
Hynfra PSA strengthens its presence in West Africa with a $1.5bn green ammonia project, backed by the Mauritanian government, with commercial operations expected to start by 2030.
Hydrogen surpasses USD110 billion in committed investments across more than 500 projects
Over 500 hydrogen projects are now under construction or operational worldwide, with total committed investments reaching USD110 billion, representing an increase of USD35 billion in one year.
Verso Energy to deliver 6,000 tonnes of hydrogen to German steel industry
From 2029, Verso Energy will supply hydrogen produced in Moselle to steel group SHS, supported by a cross-border pipeline and an industrial investment exceeding €100mn.
Terra Firma Energy strengthens its position with SGN’s hydrogen trial
The success of SGN’s test on a gas pipeline converted to hydrogen confirms Terra Firma Energy’s technological choices, with sites already equipped to accommodate this type of energy investment.
Lhyfe begins green hydrogen deliveries in the Netherlands for the GROHW project
Lhyfe has started supplying Essent with renewable green hydrogen under a multi-year contract, marking a major commercial debut in the Netherlands for the French producer.
RWE secures €551mn for 100 MW electrolyser in Eemshaven
The Dutch government grants major funding to RWE to develop an offshore wind-powered electrolysis facility, marking a key step in the OranjeWind project.
ScottishPower halts green hydrogen projects despite public funding
ScottishPower pauses its renewable hydrogen projects in the United Kingdom, despite receiving public subsidies, citing a lack of commercial viability under the HAR1 programme.
thyssenkrupp nucera acquires technology assets from Green Hydrogen Systems
thyssenkrupp nucera has completed the purchase of key assets from Green Hydrogen Systems, strengthening its position in pressurised alkaline electrolysis for industrial hydrogen production.
GH2 Solar invests $48.2mn in electrolyzer plant in Gwalior with AHES
GH2 Solar Ltd partners with AHES Ltd to build an electrolyzer plant in Gwalior, targeting 500 MW capacity by 2030 with $19mn government support.
India and Japan activate a hydrogen–ammonia corridor with 2030–2040 targets
A cooperation agreement, a bilateral carbon-credit mechanism and converging standards lay the ground for India→Japan hydrogen and ammonia flows, with volume targets, price-support schemes and first export projects scaling up.
Germany and Japan accelerate hydrogen offtake contracts to secure supply
Hydrogen offtake agreements are multiplying, with Germany and Japan leading, mobilizing producers and industrial buyers in a still nascent but already highly competitive market.
Vema Hydrogen forme un conseil scientifique d’élite pour soutenir son expansion industrielle
Vema Hydrogen mobilise des experts internationaux pour accélérer la mise sur le marché de son hydrogène minéral, alors que l’entreprise prévoit de forer ses premiers puits pilotes en Amérique du Nord d’ici la fin de l’année.
California launches public tender for hydrogen transportation services
First Public Hydrogen Authority opens a request for proposals to transport gaseous and liquid hydrogen across California, with a deadline set for September 12.
Ohmium reduces electrolyser footprint to 29.7 m²/MW
US-based manufacturer Ohmium unveils a new generation of modular electrolysers integrating all production systems within a reduced footprint, aiming to lower installation and operating costs for green hydrogen.
ABO Energy and Hydropulse launch strategic alliance in green hydrogen
ABO Energy and Hydropulse join forces to develop decentralised green hydrogen production units in Europe, with Spain and Finland as priority markets.
Next Hydrogen secures USD 1.1 million in loans to strengthen its cash position
Next Hydrogen secures two separate loans, including one from its executives, to consolidate liquidity and continue operations while evaluating long-term financial solutions.
Metacon confirms partial delivery and receives EUR 14.9 million
Metacon receives EUR 14.9 million from Motor Oil Hellas for the approved delivery of ten electrolysis units, marking the first stage of a strategic industrial project in Greece.
European Refineries Targeted by Green Hydrogen Regulation for 2030
The European Union’s regulatory framework mandates green hydrogen integration in refineries, generating projected demand of 0.5 million tonnes by 2030.
Air Products Delivers 730,000 Gallons of Liquid Hydrogen to NASA for Artemis
Air Products transported over 50 tanker trucks to the Kennedy Space Center to fill the world’s largest liquid hydrogen tank, supporting NASA’s Artemis missions.

Log in to read this article

You'll also have access to a selection of our best content.