Green North Energy
Green North Energy Oy develops large-scale green hydrogen and ammonia production plants in Finland, producing carbon-neutral ammonia for fertilizer manufacturers and maritime fuel operators. The company is building a flagship 280 MW Naantali plant with planned expansion to Pori and Kemi.
- Company typePrivate
- Founded2021
- HeadquartersTurku, Finland
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Green North Energy does
Green North Energy Oy is a Finnish project development company founded in 2021 by engineering and consulting firm Elomatic together with private investors, with operations headquartered in Turku and a production site under development in Naantali. The company develops large-scale green hydrogen and ammonia production facilities that use renewable-electricity-powered electrolysis to produce carbon-neutral ammonia, displacing fossil-based ammonia which the company estimates accounts for approximately 2% of global CO2 emissions. Its underlying platform is a proprietary, scalable hydrogen plant concept designed for replication across multiple sites, with the flagship being a 280 MW Naantali facility requiring approximately €580-600 million of investment and targeting production start in 2026-2027.
The core technology combines water electrolysis with downstream ammonia synthesis, integrates with district heating networks for waste heat recovery (notably in the Turku region), and is sized to deliver roughly 330,000 tons per year of CO2 emissions reduction per plant. Revenue mechanics are split between direct green ammonia sales to industrial customers and the licensing/export of complete plant solutions to international markets. The company targets two primary end markets, fertilizers for domestic agriculture and maritime fuel, with secondary use cases in industrial chemicals and energy storage/grid balancing.
The business is pre-revenue and still in the project development phase, capitalized through a €2.3 million Business Finland R&D grant (2022), equity from Elomatic and Flexens Oy Ab as principal owners, and a 2024 partnership with Meridiam to fund the final development of the Naantali plant. Green North Energy is also pursuing expansion with letters of intent for additional plants in Pori and Kemi (each over €600 million planned), participation in the EU-supported BalticSeaH2 cross-border hydrogen valley, and a 2022 Letter of Intent with Meriaura and Wärtsilä for an ammonia-fueled cargo vessel. The go-to-market is enterprise field sales targeting municipalities, industrial offtakers, and infrastructure developers, with environmental permits for the Naantali site secured in January 2025.
Green North Energy firmographics
Firmographics- Name
- Green North Energy
- Legal name
- Green North Energy Oy
- Website
- https://greennorth.energy
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Green North Energy Oy develops large-scale green hydrogen and ammonia production plants in Finland, producing carbon-neutral ammonia for fertilizer manufacturers and maritime fuel operators. The company is building a flagship 280 MW Naantali plant with planned expansion to Pori and Kemi.
- Ownership category
- akta.pro rank
Green North Energy industry classification
Industry- Product category
- Green Hydrogen and Ammonia Production
- NAICS
- Electric Power Generation (22111), Electric Power Generation, Transmission and Distribution (2211)
- SIC
- Cogeneration Services & Small Power Producers (4991), Electronic & Other Electrical Equipment (No Computer Equip) (3600)
- akta.pro primary industry
- Hydrogen Production Supply & Offtake (Green/Blue H2) for Utility Blending (EUAJAJAF)
Keywords
Where Green North Energy is headquartered
LocationHeadquarters
- HQ city
- Turku
- HQ country
- Finland
- HQ region
- Europe
Offices2 records
Markets served
Green North Energy business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Technology or R&D, Operations, Supply Chain, Personnel
Revenue model
- Green Ammonia Sales: Revenue generated from producing and selling green ammonia to industrial customers. Primary markets include fertilizer production for agriculture and fuel for maritime shipping. The company aims to achieve price parity with fossil-based ammonia as the first end product of the hydrogen economy.
- Plant Solutions Export: Export of complete plant solutions with associated services worldwide. The scalable plant concept enables replication and sale of plant development expertise and turnkey solutions to international markets.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Green North Energy product offering
Product offeringCore offering
Green North Energy is a Finnish project development company that develops, builds, and operates green hydrogen and ammonia production plants powered by renewable electricity via water electrolysis. The company converts green hydrogen into carbon-neutral ammonia for industrial off-takers in the fertilizer and maritime sectors, and plans to license its scalable plant concept internationally.
Product overview
Green North Energy is a project development company operating a platform of scalable hydrogen production plants that convert renewable electricity into green ammonia. The core offering consists of the Scalable Hydrogen Plant Concept (a replicable plant design platform) deployed at specific locations, with the Naantali plant as the first flagship implementation. The company produces two primary products: green hydrogen (the intermediate output from electrolysis) and green ammonia (the primary refined product for fertilizers and maritime fuel). Planned expansion includes additional plants in Pori and Kemi, with combined investments exceeding one billion euros.
Differentiator
Problem solved
Functional benefit
Products and services
- Green Ammonia
- Green Hydrogen
- Hydrogen Plant Solutions
Quantifiable outcome
- 330,000 tons CO2 emissions reduction per year from Naantali plant operations
- +3 more outcomes
Companies that use Green North Energy
Customer profileNamed customers2 records
Segments4 records
Ideal customer profiles3 records
Green North Energy technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Green North Energy partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered flagship, supporting and core.
- City of PoriflagshipLetter of intent signed for feasibility study on establishing a green hydrogen and ammonia plant. Planned investment exceeds EUR 600 million. Pori has significant offshore wind projects planned, making it ideal for hydrogen production.
- City of KemiflagshipLetter of intent signed for feasibility study on establishing a green hydrogen and ammonia plant. Planned investment exceeds EUR 600 million. Kemi is situated along the future hydrogen pipeline with significant offshore wind potential.
- MeriauraflagshipGreen North Energy partnered with Meriaura (Finnish shipping company) and Wärtsilä to build a cargo vessel running on green ammonia. Green North Energy will supply the green ammonia fuel produced with renewable electricity. Meriaura operates 16 vessels and is a pioneer in environmentally friendly shipping.
- WärtsiläflagshipPartnership with Wärtsilä for providing modular multifuel main engines for the ammonia-powered cargo vessel being built for Meriaura. Wärtsilä brings maritime engine technology expertise to the collaboration.
- Turun Seudun Energiantuotanto OysupportingLetter of intent signed for cooperation on the Naantali project. The partnership involves potential utilization of district heating network and energy infrastructure integration.
- Green Industry ParksupportingCooperation with Green Industry Park, a development company established in 2021 to develop biobased and circular economy as well as industrial renewable energy operations in the Naantali, Raisio and Turku areas, including the former Naantali refinery area.
- ElomaticcoreElomatic, a Finnish consulting and engineering company with over 1,300 professionals, founded Green North Energy in 2021. The parent company provides technological expertise, project management capabilities, and access to global networks spanning 80+ countries. Elomatic consulted on the plant concept design and continues to support project development.
- BalticSeaH2 ProjectsupportingEU-supported project creating a large-scale, cross-border hydrogen valley around the Baltic Sea - the first significant cross-border hydrogen valley in Europe. The main valley is between southern Finland and Estonia. Green North Energy is examining feasibility for Pori and Kemi as part of this project.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
Green North Energy competitors and assessment
Company assessmentDirect peers
- ITM Power: UK-based electrolyzer manufacturer developing large-scale green hydrogen projects across Europe. Compares on electrolyzer technology stack and European green hydrogen project development.
- Yara International: Norwegian global fertilizer and ammonia producer actively transitioning its ammonia portfolio to green/blue ammonia. Directly comparable to Green North Energy as a producer of green ammonia targeting fertilizer and maritime end-markets, with similar decarbonization thesis.
- Thyssenkrupp nucera: German electrolyzer technology company with large-scale alkaline and PEM electrolyzer offerings. Comparable as a green hydrogen technology supplier and project partner for industrial-scale hydrogen plants in Europe.
- Nel ASA: Norwegian electrolyzer manufacturer and hydrogen project developer. Comparable as a Nordic-headquartered green hydrogen technology and project platform; potential technology and project partner for Green North Energy's plant deployment pipeline.
- Everfuel: Danish green hydrogen company building production and distribution infrastructure for mobility and industrial customers in the Nordics. Comparable Nordic green hydrogen infrastructure developer with similar end-market focus.
Emerging players
- Liquid Wind: Swedish developer of green methanol and e-fuels using green hydrogen. Comparable as a Nordic project developer using renewable electricity to produce low-carbon fuels, with overlapping customer and infrastructure strategy.
- H2 Green Steel: Swedish green steel developer using large-scale green hydrogen to decarbonize steelmaking. Comparable emerging Nordic green hydrogen off-taker driving demand for hydrogen infrastructure similar to what Green North Energy is building.
Broad incumbents
- Ørsted: Danish renewable energy major with a substantial offshore wind portfolio and emerging green hydrogen project pipeline. Comparable as a large-scale renewable-energy developer moving into green hydrogen; a potential competitor for European green hydrogen projects adjacent to Green North Energy's footprint.
- Air Products: US-listed industrial gases and hydrogen major with megaproject green hydrogen investments in Europe and the Middle East. Comparable as a global incumbent pursuing green ammonia and hydrogen at scale, with maritime offtake partnerships.
- Linde: Global industrial gases major with active green hydrogen project investments and offtake agreements across Europe. Comparable as a heavyweight green hydrogen industrial player with established customer and infrastructure networks.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Green North Energy social profiles
Digital presenceGreen North Energy compliance and trust
Trust signalCompliance1 record
Green North Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
Green North Energy leadership team
Management profileNumber of profiles
Profiles2 records
Green North Energy funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Green North Energy 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 Green North Energy
What does Green North Energy do?
Green North Energy is a Finnish project development company that develops, builds, and operates green hydrogen and ammonia production plants powered by renewable electricity via water electrolysis. The company converts green hydrogen into carbon-neutral ammonia for industrial off-takers in the fertilizer and maritime sectors, and plans to license its scalable plant concept internationally.
Is Green North Energy a public or private company?
Green North Energy is a private company. It is classified as corporate owned and is currently operating.
When was Green North Energy founded?
Green North Energy was founded in 2021. It employs 1 to 10 people.
Where is Green North Energy based?
Green North Energy is headquartered in Turku, Finland, in the Europe region.
How does Green North Energy make money?
Two revenue lines are on record. Green Ammonia Sales are the primary driver. The others are plant Solutions Export.
Who are Green North Energy's main competitors?
Direct peers on record are ITM Power, Yara International, Thyssenkrupp nucera, Nel ASA and Everfuel. Emerging players are Liquid Wind and H2 Green Steel. Broad incumbents are Ørsted, Air Products and Linde.
Does Green North Energy have an API?
No public API is recorded for Green North Energy.
What industry is Green North Energy in?
Green North Energy's product category is Green Hydrogen and Ammonia Production. Its primary akta.pro industry code is EUAJAJAF, Hydrogen Production Supply & Offtake (Green/Blue H2) for Utility Blending. Its NAICS code is 22111 and its SIC code is 4991.