What Liquid Sun does

Liquid Sun Ltd is a Finnish private climate-tech company, founded in 2022 and headquartered in Tampere, that is developing electro-synthetic aviation fuel (e-SAF) as a drop-in replacement for fossil jet fuel. The company's core technology captures biogenic CO2 from forestry and pulp production and combines it with green hydrogen and renewable electricity inside a modular production system to synthesize crude e-SAF, which it then refines into aviation fuel via a partner network. The pilot production facility in Espoo, Finland, became operational in late 2025 and produced the company's first batches of crude e-SAF in Q4 2025; a next-generation electrolyzer stack design announced in Q1 2026 is positioned to deliver major cost reductions in core components and to support the move from pilot to mass production.

The business is built around a single-product strategy ("The Carbon Recoding Company") with eSAF as the flagship offering, targeting the commercial aviation and broader aviation industry verticals. Strategic anchor partners include Finnair (airline-side co-development and validation), ABB (automation and energy infrastructure), and Fortum (biogenic CO2 feedstock and energy supply), with the company also admitted to the IAGi Accelerator in 2025. Marketing and customer engagement are conducted primarily through the company website, LinkedIn, quarterly newsletters, and earned media coverage including a feature by Finnish national broadcaster MTV Uutiset.

Liquid Sun is pre-commercial and currently monetizes only via pilot-scale e-SAF production rather than recurring offtake contracts. Its go-to-market is enterprise B2B field sales aimed at airlines and industrial offtakers, with regulatory tailwinds from the EU Renewable Energy Directive (e-SAF mandates starting 2030, 100% by 2050) and the aviation sector's 2050 carbon neutrality target creating a structurally captive demand pool. No public pricing has been disclosed, and the company's stated near-term objective is achieving price parity with conventional sustainable aviation fuel through the new electrolyzer stack design and modular scaling.

Name

Liquid Sun

Legal name

Liquid Sun Ltd

Website

https://liquidsun.fi

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Liquid Sun is a Finnish climate-tech company that converts captured biogenic CO2 from forestry and pulp production into electro-synthetic sustainable aviation fuel (e-SAF) using green hydrogen and renewable electricity, serving commercial airlines and the aviation industry via enterprise B2B partnerships.

Ownership category

akta.pro rank

Product category

Sustainable Aviation Fuel

NAICS

Ethyl Alcohol Manufacturing (325193), Basic Chemical Manufacturing (3251)

SIC

Aircraft & Parts (3720)

akta.pro primary industry

Sustainable Aviation Fuel (SAF) Production (HEFA, FT, ATJ) (EUAAAHAE)

akta.pro secondary industries

Sustainable Aviation Fuel (SAF) & Alternative Fuels (e-fuels, biofuels, hydrogen) (THABANAA), CO₂‑Derived Synthetic Fuels for Aviation & Marine (SAF e‑fuels, e‑ammonia/e‑methanol bunkering pathways) (EUABAIAH), Green Methanol & E‑Alcohols (e‑methanol, ethanol, higher alcohols) (EUABAIAB), E-fuels Storage & Blending (E-diesel, E-kerosene/SAF, E-gasoline) (EUAFAFAC)

Keywords

• Sustainable aviation fuel
• Electro-synthetic fuel
• Carbon capture technology
• Green hydrogen production
• Renewable jet fuel

Headquarters

HQ city

Tampere

HQ country

Finland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Supply Chain

Revenue model

1. e-SAF Fuel Sales: Liquid Sun produces and sells electro-synthetic sustainable aviation fuel (e-SAF) to airlines and aviation industry customers. As a pre-commercial company with a pilot facility, it is working toward commercial-scale production and commercial revenue generation.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Liquid Sun produces electro-synthetic aviation fuel (e-SAF) by converting captured biogenic CO2 sourced from forestry and pulp production into synthetic crude using green hydrogen and renewable electricity. The company operates a pilot production facility in Espoo, Finland, and works with airline and industrial partners (Finnair, ABB, Fortum) to co-develop and commercialize its drop-in sustainable jet fuel for the aviation industry.

Product overview

Liquid Sun is a single-product company (The Carbon Recoding Company) that produces electro-Synthetic Aviation Fuel (eSAF) - a sustainable jet fuel created by converting captured biogenic CO2 from forestry and pulp production into synthetic crude using green hydrogen and renewable electricity. The company's modular eSAF production system works with existing aircraft infrastructure, requiring no new engines, and is designed to achieve cost parity with conventional sustainable aviation fuel.

Differentiator

Problem solved

Functional benefit

Brands

• eSAF: Electro-Synthetic Aviation Fuel - Liquid Sun's flagship product that converts captured biogenic CO₂ and green hydrogen into sustainable jet fuel using renewable electricity.

Products and services

• eSAF (electro-Synthetic Aviation Fuel) Liquid Sun's flagship sustainable aviation fuel product, produced by converting captured biogenic CO2 from forestry and pulp production into synthetic crude using green hydrogen and renewable electricity, then refined into aviation fuel. The drop-in eSAF works with existing aircraft engines and airport infrastructure (no new engines required) and is designed for commercial airlines and aviation industry customers seeking to meet EU e-SAF mandates and carbon neutrality targets.

Quantifiable outcome

• Cuts majority of aviation lifecycle CO2 emissions compared to fossil jet fuel
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• FinnaircoreStrategic or Co-development PartnerFinnair, the Finnish national airline, is a strategic aviation partner of Liquid Sun. As an airline customer and development partner, Finnair is collaborating to drive the adoption of e-SAF in commercial aviation operations, helping validate the fuel for real-world flight applications.
• ABBcoreTechnology or IntegrationABB, a global technology and engineering company, is partnered with Liquid Sun to provide technology solutions supporting the e-SAF production process, including automation and energy infrastructure expertise for the pilot facility in Espoo.
• FortumcoreStrategic or Co-development PartnerFortum, a Finnish energy and utility company, is a strategic partner providing energy infrastructure and potentially biogenic CO2 feedstock sourced from forestry and pulp production operations, integral to the e-SAF production process.

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Velocys: Velocys develops microchannel Fischer-Tropsch reactors for converting biomass and waste into SAF. Competes for the same e-/synthetic SAF mandate-driven demand pool as Liquid Sun.
• HIF Global: HIF Global produces e-fuels, including e-SAF/e-gasoline, from green hydrogen and captured CO2. It is one of the most advanced e-fuels developers globally with projects in Chile, the US and Europe, making it the closest direct peer to Liquid Sun's CO2-to-SAF pathway.
• LanzaJet: LanzaJet produces SAF via the alcohol-to-jet (ATJ) pathway from ethanol. While a different feedstock pathway, it directly competes with Liquid Sun in supplying commercial airlines with sustainable jet fuel.
• Norsk e-Fuel: Norwegian e-SAF startup planning commercial e-SAF production from CO2 and green hydrogen. Targets the same EU aviation mandate as Liquid Sun with a similar technology pathway and Nordic footprint.
• Infinium: Infinium produces e-fuels including e-SAF from green hydrogen and captured CO2 using proprietary catalyst technology. Directly competes with Liquid Sun for European airline offtake agreements.
• Prometheus Fuels: US-based company producing synthetic fuels, including jet fuel, from captured CO2 and renewable electricity. Shares Liquid Sun's CO2-to-drop-in-fuel value proposition aimed at decarbonizing aviation.

Emerging players

• Sunfire: German electrolyzer and Power-to-X company developing SOEC electrolysis and e-fuel production, including e-SAF. Provides both enabling technology to e-fuels projects and is itself an emerging e-fuel producer, making it an adjacent peer.
• Twelve (formerly Opus 12): Twelve uses electrochemical CO2 conversion to produce chemicals and fuels, including jet fuel precursors. Comparable CO2-to-fuel technology approach targeting aviation and adjacent fuel markets.

Broad incumbents

• SkyNRG: Specialist SAF supplier and project developer with airline partnerships and offtake programs. Competes with Liquid Sun in the SAF supply layer and as a SAF procurement partner for European airlines.
• Neste: World's largest producer of renewable diesel and SAF via the HEFA pathway. A broad incumbent serving the same airline customers as Liquid Sun, currently with much larger volumes but a different (bio-based) feedstock.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/liquidsunltd

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds3 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Liquid Sun