Kvasir Technologies

Name

Kvasir Technologies

Legal name

Kvasir Technologies

Website

https://kvasirtechnologies.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Marine Biofuels

NAICS

Petroleum and Coal Products Manufacturing (3241), Petrochemical Manufacturing (32511)

SIC

Industrial Organic Chemicals (2860), Miscellaneous Products Of Petroleum & Coal (2990)

akta.pro primary industry

Biofuel Upgrading, Hydrotreating & Refining (Co-processing, Isomerization) (EUAAAHAG)

akta.pro secondary industries

Refinery Blending & Product Quality Control (Gasoline/Diesel/Jet Blending, Additives) (EUALAGAJ), Biofuels & Renewable Fuels Switching (Biomethane/RNG, Bio-oils, Sustainable Biomass) (EUABAJAD), Hydrotreating, Hydroprocessing & Desulfurization (HDS/HDT) (EUALAGAE)

Keywords

• Sustainable marine biofuels
• Biomass conversion technology
• Drop-in fuel substitutes
• Lignocellulose processing
• Renewable fuel production

Headquarters

HQ city

Søborg

HQ country

Denmark

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Biofuel Product Sales: Kvasir generates revenue through the sale of climate-neutral drop-in biofuels to shipping companies, maritime fuel suppliers, and potentially refineries. The company sells its bio-oil directly as a fuel product that can be used in existing ship engines or co-fed into existing refineries. Revenue is derived from product volume sold to commercial offtake partners under long-term agreements.
2. Technology Licensing / Joint Ventures: Kvasir licenses its patented technology through joint ventures such as KVEEN Biofuels (with European Energy) for constructing commercial-scale production plants. This generates revenue through licensing fees, co-development arrangements, and equity stakes in joint venture entities.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Kvasir Technologies has invented and commercializes a proprietary solvothermal liquefaction process — a single-step thermochemical conversion that transforms any lignocellulosic biomass (agricultural and forestry waste such as straw, wood chips, corn stover, and sawdust) into a drop-in bio-oil that serves as a 1:1 substitute for fossil marine heavy fuel oil without engine modifications. The company sells the resulting bio-oil directly to shipping companies, maritime fuel buyers, and refineries through long-term offtake agreements, and licenses its patented technology via joint ventures such as KVEEN Biofuels with European Energy.

Product overview

Kvasir Technologies offers a proprietary solvothermal liquefaction technology — a single-step thermochemical process that converts non-edible lignocellulosic biomass (agricultural and forestry waste) into drop-in biofuels. The core product is the Kvasir Bio-Oil, a CO2-neutral marine fuel that serves as a 1:1 direct substitute for fossil heavy fuel oil without engine modifications. The technology platform also yields sub-products including Bio Crude Oil for refinery co-feeding, Sustainable Aviation Fuel (SAF) via selective conversion, and high-value aromatic chemicals via catalytic processes. A by-product, biochar, acts as a carbon sink enabling carbon-negative products. The company operates a demonstration facility in Fredericia (up to 2 tonnes/day) and is developing its first FOAK commercial plant in Aabenraa, Denmark, through a joint venture called KVEEN Biofuels with European Energy. Funded project initiatives (SEAFARER, EUDP STRAW-FUEL-OIL, FRO, SolvoThermal Upgrading) advance specific technology development areas including refinery retrofitting, straw-based fuel validation, solvothermal process improvement, and bio-oil upgrading.

Differentiator

Problem solved

Functional benefit

Products and services

• Kvasir Bio-Oil (Drop-in Marine Fuel) A CO2-neutral drop-in biofuel produced via solvothermal liquefaction, designed as a 1:1 substitute for fossil marine heavy fuel oil. Can be used directly in existing ship engines without modifications, miscible with fossil fuel, and bolts onto existing port tank and pipeline infrastructure. Targeted at shipping companies seeking to meet IMO CO2 reduction targets without fleet replacement.
• Bio Crude Oil (for Refinery Co-feeding) Bio-oil produced via solvothermal liquefaction that is co-fed into existing oil refineries alongside fossil feedstocks to make refinery outputs greener. Enables gradual feedstock substitution until complete elimination of fossil oil. Targeted at refineries seeking decarbonization without major capital redesign.
• Sustainable Aviation Fuel (SAF) Aviation fuel produced via selective catalytic conversion of Kvasir's bio-oil into climate-neutral jet fuel. Derived from non-edible agricultural residues and forestry waste. Aimed at the aviation sector, where no direct electrification alternative exists and e-fuels/P2X technologies remain prohibitively expensive.
• Value-Added Chemicals (Bio-aromatics and Bio-plastics) High-value aromatic chemicals (BTX) and bio-plastic precursors produced by selective catalytic (reductive and oxidative) conversion of Kvasir's bio-oil. The highest-value market segment for the technology, targeting petrochemical producers seeking sustainable alternatives to fossil crude oil as starting material.
• Biochar (Carbon-Sequestering By-product) Condensed carbon by-product produced as a side effect of the solvothermal liquefaction process. Distributable on farmland to return nutrients to fields and act as a carbon sink, locking carbon in soil for centuries. When combined with biofuel use, this enables carbon-negative end products.
• KVEEN Biofuels (Commercial-Scale Production Joint Venture) Joint venture between Kvasir Technologies and European Energy established in 2026 to construct and operate commercial-scale biofuel production plants using Kvasir's patented solvothermal liquefaction technology. First FOAK commercial plant planned in Aabenraa, Denmark with planned capacity of 40,000 tonnes/year.

Quantifiable outcome

• 96%+ CO2 reduction compared to fossil equivalents (LCA)
• +3 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• European EnergycoreStrategic or Co-development Partner · 18 June 2026European Energy joined Kvasir's €10 million Series A as a new investor and strategic partner. Concurrently, the companies established a joint venture called KVEEN Biofuels to construct a commercial-scale biofuel production plant in Aabenraa, Denmark. European Energy brings proven experience in developing and financing energy infrastructure at scale, reducing the risk of the first commercial plant and accelerating Kvasir's route to market.
• Aabenraa Havn (Port of Aabenraa)coreStrategic or Co-development Partner · 14 January 2025Kvasir partnered with Aabenraa Havn to secure land at the port for its inaugural First-of-a-Kind (FOAK) commercial biofuel production facility. The partnership leverages Aabenraa Havn's deep-sea port infrastructure (up to 18m depth), proximity to shipping routes, and existing laboratory and production facilities. The site is located near the former Enstedværket power plant.
• Alfa LavalcoreTechnology or Integration · 13 November 2024Kvasir and Alfa Laval signed a Memorandum of Understanding for cooperation on developing solutions for bio-fuel plants. Alfa Laval, a global leader in separation and heat transfer equipment, will help Kvasir bio-fuel plants increase product quality and enhance plant performance, utilizing Alfa Laval's market-leading know-how and product offering.
• Crossbridge EnergycoreStrategic or Co-development Partner · 1 January 2023Crossbridge Energy, a Danish refinery producing ~35% of Denmark's total fuel consumption, is a project partner investing nearly DKK 3 million in co-financing Kvasir's EUDP STRAW-FUEL-OIL demonstration project. Crossbridge brings skills, capabilities, and resources to build and operate a biofuel plant alongside Kvasir's technology.
• Fredericia School of Marine and Technical Engineering (FMS)minorStrategic or Co-development Partner · 1 January 2023FMS contributes to Kvasir's FRO project by developing and delivering training programs that equip local workers with skills to operate and maintain new green technologies. FMS is a leading Danish technical education institution with over 500 students across three campuses and close ties to industry leaders including A.P. Moller-Maersk.
• Aalborg University (AAU Energy)coreStrategic or Co-development Partner · 1 January 2023Researchers from AAU Energy's Biofuels Research Group collaborate with Kvasir on scaling up sustainable aviation fuel technology. AAU supports design and production of bio crude oil and subsequent bio aviation fuel through their vast knowledge of biofuels. AAU also participates in the EUDP STRAW-FUEL-OIL project.
• Technical University of Denmark (DTU)coreStrategic or Co-development Partner · 1 November 2022DTU Chemical Engineering, one of Europe's top-ranked departments led by Professor Kim Dam-Johansen (a pioneer in thermal conversion technologies), supports Kvasir's FRO project with technological advancements and in-depth environmental and commercial viability analyses. DTU is also the source of Kvasir's spin-out origin.
• Duro FelgueraminorImplementation/ SI/ Consulting Partner · 28 October 2021Kvasir and Spanish EPC (Engineering, Procurement, Construction) company Duro Felguera signed an MoU to cooperate on the construction of a biofuel plant in Spain. Duro Felguera has 20+ years of experience building power plants and large infrastructure projects, employs 1,100+ people, and is listed on the Madrid stock exchange. This was a pre-commercial exploration partnership.
• NORDENcoreStrategic or Co-development Partner · 5 December 2019Global shipping company NORDEN entered a collaboration with Kvasir to test and develop next-generation marine biofuels. NORDEN tests the fuel produced by Kvasir on its vessels, validating the biofuel's suitability as bunker fuel and accelerating technological development. This collaboration is part of NORDEN's decarbonization agenda.

Scale indicators15 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Steeper Energy: Steeper Energy (Denmark/Canada) develops hydrothermal liquefaction technology to convert biomass into renewable crude oil for marine and refinery markets. It is the most direct technology comparable to Kvasir's solvothermal liquefaction, serving the same marine/refinery feedstock-agnostic biofuel niche.
• Prometheus Fuels: US-based startup producing drop-in net-zero fuels (gasoline, jet fuel) from CO2 and water using electrochemistry. Competes with Kvasir for the same drop-in fuel narrative targeting aviation and heavy transport customers.
• SunFire: SunFire (Germany) produces e-fuels (e-kerosene, e-diesel, e-methanol) from renewable electricity, water, and CO2 via co-electrolysis. Targets aviation and shipping decarbonization with a complementary, power-to-liquid approach to Kvasir's biomass-to-liquid pathway.
• Velocys: Velocys produces sustainable aviation fuel (SAF) from waste biomass and syngas via Fischer-Tropsch technology. Competes with Kvasir's SAF value-add chain for the same aviation off-takers and shares the feedstock-flexibility positioning.

Broad incumbents

• Neste: Neste is the world's largest producer of renewable diesel and SAF from waste and residues, with massive commercial-scale capacity already in operation. It is the dominant incumbent in marine renewable fuels (NEXBTL, co-processing partnerships with shipping majors) and a benchmark for Kvasir's eventual scale.

Emerging players

• LanzaTech: LanzaTech uses gas fermentation to convert industrial off-gases (and biomass-derived syngas) into ethanol and SAF precursors. Adjacent pathway targeting the same drop-in sustainable fuel customer set in aviation and shipping.
• Gevo: Gevo produces low-carbon hydrocarbons (renewable gasoline, jet fuel, diesel) from agricultural waste using fermentative pathways. Targets the same SAF and renewable marine/aviation customer set with a partially overlapping feedstock base.
• Infinium: Infinium produces e-fuels (e-diesel, e-naphtha, e-SAF) from green hydrogen and captured CO2. Competes for the same aviation and heavy-transport decarbonization budget with a power-to-liquid model complementary to Kvasir's biomass-to-liquid.
• Liquid Wind: Liquid Wind (Sweden/Denmark) develops commercial e-methanol facilities for maritime decarbonization. Competes for the same shipping off-taker mindshare and capital pool with a different decarbonization pathway; Kvasir's CCO joined from Liquid Wind, indicating direct talent and category overlap.

Others

• Topsoe: Topsoe is a Danish catalysis and process technology company (and Kvasir CFO's prior employer) providing hydroprocessing, refining, and emerging sustainable-fuel catalysts. Acts as a critical technology enabler and potential licensor for the refining co-feeding and SAF conversion paths Kvasir is pursuing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCMG_Hv6tK-vK_YRr-LAU4wA
• LinkedInlinkedin.com/company/kvasirtechnologies

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds4 records

Investors7 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 Kvasir Technologies