Nordic Electrofuel

What Nordic Electrofuel does

Nordic Electrofuel AS (formerly Nordic Blue Crude AS, rebranded April 2021) is a Norwegian private company founded in 2015 and headquartered in Oslo, with its primary pilot production facility under construction at Herøya Industrial Park in Porsgrunn. The company produces synthetic Sustainable Aviation Fuel (e-SAF) and other synthetic hydrocarbons using a Power-to-Liquid (PtL) process that combines reversed Water Gas Shift (rWGS) and Fischer-Tropsch (FT) technologies to convert captured industrial CO2 and green hydrogen — both derived from renewable electricity — into drop-in synthetic crude. Its proprietary patented P2X process features a novel non-catalytic rWGS reactor design that eliminates catalyst requirements in parts of the process chain, reportedly achieving carbon utilisation close to 100% and over 99% relative GHG emission reduction versus fossil kerosene.

The E-Fuel Pilot plant (E-Fuel 1) targets approximately 8,000 tonnes per year of synthetic hydrocarbon output, with commissioning scheduled for 2026, backed by a €40 million EU Innovation Fund grant (the maximum under the pilot programme, project scored 82.5/90). The company is raising an estimated €200 million (NOK 2.3 billion) in equity capital advised by Societe Generale to finance construction. Revenue mechanics are anchored by a term sheet with P2X-Europe (Mabanaft/H&R Group joint venture) for offtake of ~8,000 tonnes/year, a Letter of Intent with Sunclass Airlines, and CO2 supply agreements with Eramet Norway and Nippon Gases Norge. Beyond Norway, MoUs with Hydrom (Oman) and the Royal Commission for Jubail and Yanbu (Saudi Arabia) signal international expansion via licensing or co-development. The company's primary customers are airlines, fuel traders, and heavy industrial CO2 emitters; it monetises through synthetic fuel sales, supply agreements, and potentially technology licensing as the platform scales internationally.

Name

Nordic Electrofuel

Legal name

Nordic Electrofuel AS

Website

https://nordicelectrofuel.no

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

Nordic Electrofuel is a Norwegian private company founded in 2015 producing synthetic Sustainable Aviation Fuel (e-SAF) via Power-to-Liquid technology, converting captured industrial CO2 and green hydrogen into drop-in synthetic hydrocarbons for the aviation and fuel trading sectors.

Ownership category

akta.pro rank

Product category

Sustainable Aviation Fuel (SAF)

NAICS

Petrochemical Manufacturing (32511), Petroleum Refineries (32411), Basic Chemical Manufacturing (3251)

SIC

Petroleum Refining (2911), Industrial Organic Chemicals (2860)

akta.pro primary industry

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

akta.pro secondary industries

E‑Fuels & Synthetic Hydrocarbons (e‑kerosene, e‑diesel, e‑gasoline, e‑methane) (EUABAIAA), CO₂‑Derived Synthetic Fuels for Aviation & Marine (SAF e‑fuels, e‑ammonia/e‑methanol bunkering pathways) (EUABAIAH), Sustainable Aviation Fuel (SAF) & Alternative Fuels (e-fuels, biofuels, hydrogen) (THABANAA)

Keywords

• Sustainable aviation fuel
• Power-to-liquid fuels
• Synthetic fuel production
• Carbon capture utilization
• E-fuel technology

Headquarters

HQ city

Lysaker

HQ country

Norway

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. E-SAF / Synthetic Aviation Fuel Sales: Nordic Electrofuel produces synthetic crude (syncrude) from its pilot plant at Herøya, Norway. The refined syncrude is sold as e-SAF and other synthetic products to aviation customers. A term sheet with P2X-Europe (Mabanaft/H&R Group joint venture) formalises cooperation for production and commercialisation, with initial production targeting approximately 8,000 tonnes per annum.
2. Synthetic Fuel Supply Agreements: Nordic Electrofuel signs supply agreements with industrial CO2 providers (e.g., Nippon Gases Norge) and enters into offtake partnerships with airlines and fuel companies to anchor demand for its e-fuels.
3. Technology Licensing and Co-development: Nordic Electrofuel's proprietary patented P2X technology enables cost advantages that may be leveraged through licensing or co-development arrangements with international partners, including expansion projects in Oman (Hydrom MoU) and Saudi Arabia (Royal Commission MoU).

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Nordic Electrofuel produces Electric Sustainable Aviation Fuel (E-SAF) and synthetic hydrocarbons (syncrude) using a patented Power-to-X (P2X) production process that combines reversed Water Gas Shift (rWGS) and Fischer-Tropsch (FT) technologies to convert industrial CO2 off-gases and green hydrogen into drop-in synthetic fuels. The company is constructing the E-Fuel Pilot plant (E-Fuel 1) at Herøya Industrial Park, Porsgrunn, Norway, with commissioning scheduled for 2026 and initial production capacity of approximately 8,000 tonnes per year. Products are sold via long-term supply agreements to airlines and fuel trading companies (P2X-Europe, Sunclass Airlines) seeking to decarbonize aviation under REFuelEU Aviation and ReFuelEU mandates.

Product overview

Nordic Electrofuel is a Norwegian company (formerly Nordic Blue Crude AS, renamed in 2021) developing and operating e-fuels production facilities. The core product is the E-Fuel Pilot plant (E-fuel 1) at Herøya Industrial Park using the company's proprietary patented Power-to-X (P2X) production process that combines reversed water gas shift (rWGS) and Fischer-Tropsch technologies. The company produces electric Sustainable Aviation Fuel (E-SAF) along with other synthetic fuels including diesel, gasoline, and waxes. The company also developed the Nordic Wind subsidiary for renewable power generation, which was sold to Fu-Gen AG in 2023 but retains commercial options. The flagship E-Fuel Pilot project is co-funded by the EU Innovation Fund with a €40 million grant and is scheduled for commissioning in 2026 with planned production of approximately 8,000 tonnes per year of synthetic hydrocarbons.

Differentiator

Problem solved

Functional benefit

Brands

• Nordic Wind: Wind development subsidiary established to support Nordic Electrofuel's electro fuel production and secure power supply through onshore and offshore wind projects. Acquired by Fu-Gen AG in 2023.

Products and services

• E-SAF (Electric Sustainable Aviation Fuel)

Quantifiable outcome

• Over 99% GHG emission reduction compared to fossil-based crude oil reference scenario
• +5 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Ten partnerships are on record, tiered strategic and core.

• Nippon Gases NorgestrategicStrategic or Co-development Partner · 1 December 2025Nordic Electrofuel signed a CO2 supply agreement with Nippon Gases Norge for its planned e-fuel facility at Herøya Industrial Park. The agreement covers delivery of gaseous carbon dioxide using existing infrastructure at Herøya to support production of renewable synthetic fuels including e-SAF.
• Hydrom (Oman)coreStrategic or Co-development Partner · 11 December 2024Nordic Electrofuel and Hydrom (Oman's central entity for green hydrogen development) signed an MoU to accelerate the development and deployment of green hydrogen technologies and ramp up production of e-SAF in the Sultanate of Oman. This partnership aligns with Oman's Vision 2040 and net-zero goals.
• Royal Commission for Jubail and Yanbu (Saudi Arabia)coreStrategic or Co-development Partner · 10 December 2024The Royal Commission for Jubail and Yanbu, in collaboration with Nordic Electrofuel and Jump, signed an MoU to foster cooperation in the development of large-scale production of green synthetic aviation fuel in Jubail, Saudi Arabia.
• P2X-Europe (Mabanaft / H&R Group Joint Venture)coreStrategic or Co-development Partner · 10 June 2023Nordic Electrofuel and P2X-Europe signed a term sheet for long-term supply of synthetic fuels targeting synthetic aviation fuel (e-SAF). Nordic Electrofuel will produce synthetic crude in Norway, which P2X-Europe will take delivery of and upgrade to e-SAF and other synthetic products. Initial production volume targeted at ~8,000 tonnes per annum with further scale-up plans.
• Fu-Gen AGstrategicStrategic or Co-development Partner · 1 May 2023Fu-Gen AG acquired 100% of Nordic Wind AS (Nordic Electrofuel's wind development subsidiary) from Nordic Electrofuel. The acquisition includes future commercial options for Nordic Electrofuel as well as options for co-ownership in wind farms. Cooperation between Fu-Gen and Nordic Electrofuel aims to accelerate both wind power and renewable fuel production in Norway.
• Sunclass AirlinesstrategicGTM or Marketing Partner · 2 February 2023Sunclass Airlines (part of Ving/Nordic Leisure Travel Group) signed a Letter of Intent with Nordic Electrofuel to jointly promote synthetic aviation fuel development and with the intention to purchase e-fuel products from Nordic Electrofuel when available in the market.
• Billington Process Technology AS (BPT)strategicTechnology or Integration · 25 August 2022Nordic Electrofuel and Billington Process Technology AS entered into a collaboration to configure steady-state and dynamic simulation models of the complete electro fuel pilot plant (E-fuel 1), covering all process and control units from feed stream to product lines.
• Eramet NorwaystrategicStrategic or Co-development Partner · 26 October 2021Nordic Electrofuel and Eramet Norway signed an agreement for CO2 from furnace gas (ovnsgass) to produce climate-neutral fuel at Herøya. Eramet Norway supplies captured CO2 from its smelter operations in Porsgrunn as feedstock for Nordic Electrofuel's PtL process.
• Aker SolutionsstrategicImplementation/ SI/ Consulting Partner · 29 April 2021Aker Solutions signed a FEED (Front-End Engineering and Design) contract with Nordic Electrofuel for the e-Fuel facility at Herøya, Porsgrunn, Norway. Nordic Electrofuel re-engaged Aker Solutions together with technology partners Arvos Group and Emerging Fuels Technology for the FEED process.
• Norwegian University of Science and Technology (NTNU)strategicTechnology or Integration · 1 January 2015Nordic Electrofuel was founded in 2015 through cooperation with NTNU, through which the company developed its proprietary patented technology for reverse Water Gas Shift (rWGS), a key driver for improving energy efficiency and operability in e-fuel production.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Norsk e-Fuel: Norwegian Power-to-Liquid e-SAF developer building a commercial-scale PtL plant using Fischer-Tropsch synthesis. Directly comparable to Nordic Electrofuel in technology pathway, geography, target product (e-SAF), and project stage.
• HIF Global: Chile/US-based e-fuels producer using PtL technology and green hydrogen to manufacture e-fuels including e-gasoline, e-diesel and e-SAF. Closest peer in terms of technology pathway and global e-fuels commercial-scale ambitions.
• Atmosfair: German non-profit developing Power-to-Liquid e-kerosene via Fischer-Tropsch synthesis. Highly comparable on PtL technology stack and SAF focus, with similar pilot-to-commercial trajectory.
• Infinium: US-based e-fuels company producing e-SAF, e-diesel and e-naphtha from captured CO2 and green hydrogen via FT synthesis. Directly comparable on feedstock (industrial CO2 + green H2), product slate and Fischer-Tropsch pathway.
• Prometheus Fuels: US-based e-fuels startup converting CO2 and green hydrogen into gasoline, jet fuel and diesel. Comparable on PtL/CO2-to-fuels approach and aviation decarbonization focus.

Emerging players

• Sunfire: German electrolyzer and Power-to-Liquid technology provider developing SOEC electrolyzers and FT-based e-fuel pathways. Adjacent to Nordic Electrofuel as a potential technology licensor/partner in the PtL value chain.
• LanzaTech: US carbon-capture-to-fuels company using gas fermentation to produce ethanol that can be upgraded to SAF. Comparable as an alternative CO2-to-jet-fuel pathway targeting the same e-SAF demand from airlines.
• Gevo: US renewable fuels company developing alcohol-to-jet (ATJ) SAF from low-carbon feedstocks. Comparable as an early-stage SAF producer competing for aviation offtake agreements and project financing.

Broad incumbents

• Neste: World's largest producer of renewable diesel and Sustainable Aviation Fuel (HEFA pathway). Broad incumbent offering overlapping SAF capability and competing for the same aviation decarbonization customers and offtake contracts.
• SkyNRG: Dutch sustainable aviation fuel distribution and project development company supplying SAF to airlines globally. Comparable as an aviation-focused SAF aggregator with corporate offtake relationships that compete for the same airline demand Nordic Electrofuel targets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/nordicelectrofuel
• Xx.com/nordelectrofuel
• Facebookfacebook.com/NordicElectrofuel

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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 Nordic Electrofuel