Kvasir Technologies
- Company typePrivate
- Founded2018
- HeadquartersSøborg, Denmark
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
Kvasir Technologies firmographics
Firmographics- 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
Kvasir Technologies industry classification
Industry- 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
Where Kvasir Technologies is headquartered
LocationHeadquarters
- HQ city
- Søborg
- HQ country
- Denmark
- HQ region
- Europe
Offices3 records
Markets served
Kvasir Technologies business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales
Revenue model
- 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.
- 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
Kvasir Technologies product offering
Product offeringCore 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
Companies that use Kvasir Technologies
Customer profileNamed customers1 record
Segments4 records
Ideal customer profiles4 records
Kvasir Technologies technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Kvasir Technologies partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and minor.
- European EnergycoreEuropean 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)coreKvasir 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 LavalcoreKvasir 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 EnergycoreCrossbridge 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)minorFMS 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)coreResearchers 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)coreDTU 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 FelgueraminorKvasir 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.
- NORDENcoreGlobal 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
Kvasir Technologies competitors and assessment
Company assessmentDirect 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
Kvasir Technologies social profiles
Digital presenceKvasir Technologies financial estimates
Financial estimateRevenue estimate
Valuation estimate
Kvasir Technologies leadership team
Management profileNumber of profiles
Profiles9 records
Kvasir Technologies subsidiaries and ownership
Company hierarchySubsidiaries1 record
Kvasir Technologies funding detail
Funding detailFunding overview
Funding rounds4 records
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Kvasir Technologies M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Kvasir Technologies
What does Kvasir Technologies do?
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.
Is Kvasir Technologies a public or private company?
Kvasir Technologies is a private company. It is classified as venture growth investor backed and is currently operating.
When was Kvasir Technologies founded?
Kvasir Technologies was founded in 2018. It employs 11 to 50 people.
Where is Kvasir Technologies based?
Kvasir Technologies is headquartered in Søborg, Denmark, in the Europe region.
How does Kvasir Technologies make money?
Two revenue lines are on record. Biofuel Product Sales are the primary driver. The others are technology Licensing / Joint Ventures.
Who are Kvasir Technologies's main competitors?
Direct peers on record are Steeper Energy, Prometheus Fuels, SunFire and Velocys. Neste is listed as a broad incumbent. Emerging players are LanzaTech, Gevo, Infinium and Liquid Wind. Topsoe is listed as an others.
Does Kvasir Technologies have an API?
No public API is recorded for Kvasir Technologies.
What industry is Kvasir Technologies in?
Kvasir Technologies's product category is Marine Biofuels. Its primary akta.pro industry code is EUAAAHAG, Biofuel Upgrading, Hydrotreating & Refining (Co-processing, Isomerization), with a secondary code of EUALAGAJ, Refinery Blending & Product Quality Control (Gasoline/Diesel/Jet Blending, Additives). Its NAICS code is 3241 and its SIC code is 2860.