What NordFuel does

NordFuel Oy is a Finnish private limited company (Business ID 3102507-5) headquartered in Haapavesi, Finland, operating in the biorefinery sector with a stated focus on producing bioethanol, biogas, lignin, and sustainable fuels from industrial by-products. The company was founded in 2019 and operates as a wholly-owned subsidiary of Kanteleen Voima Oy, a Finnish strategic operating company in the energy sector. Reported headcount is 1-10 employees, and the company is led by CEO Matti Asikainen.

The company's commercial positioning centers on converting by-product streams into renewable fuels and biochemicals, a model typical of small-scale European biorefinery operators that supply industrial off-takers or integrate with adjacent energy infrastructure. The input data, however, contains no disclosed products, customers, pricing, revenue model, or technology detail beyond the biorefinery descriptor, and the company maintains no app, public API, or documented AI/ML capability.

In June 2025-era public-facing communications on the NordFuel website, the company announced that its operations will cease on 31 July 2026 and that the entity will be merged into its parent company, Kanteleen Voima Oy. All post-1 August 2026 invoicing is to be directed to Kanteleen Voima Oy, and Matti Asikainen is the named contact for further information. As a result, NordFuel Oy is best understood as a soon-to-be-absorbed subsidiary rather than an independently scaling business.

Name

NordFuel

Legal name

NordFuel Oy

Website

https://nordfuel.fi

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

NordFuel Oy is a Finnish private biorefinery subsidiary of Kanteleen Voima Oy, focused on producing bioethanol, biogas, lignin, and sustainable fuels from by-products. The entity is scheduled to cease operations and merge into its parent on 31 July 2026.

Ownership category

akta.pro rank

Headquarters

HQ city

Haapavesi

HQ country

Finland

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Core offering

NordFuel Oy develops and operates biorefineries that produce bioethanol, biogas, lignin, and sustainable fuels from industrial and agricultural by-products. The company's core activity centers on bioconversion processes housed at its Haapavesi, Finland facility, with the resulting renewable products supplied to industrial buyers. Operations are scheduled to be merged into parent company Kanteleen Voima Oy effective 31 July 2026.

Product overview

NordFuel Oy is a Finnish energy company that has announced it will cease operations and be merged into its parent company Kanteleen Voima Oy effective 31 July 2026. The source data does not provide specific product names, service offerings, or product portfolio details beyond the company name and the merger announcement.

Differentiator

Problem solved

Functional benefit

Products and services

• Bioethanol Renewable bioethanol produced via biorefinery conversion of by-product feedstocks, supplied to industrial fuel and chemical buyers.
• Biogas Biogas generated as part of the company's biorefinery process from by-product feedstocks, supplied for industrial energy use.
• Lignin Lignin co-product extracted from the biorefinery's bioconversion process, supplied as a biochemical feedstock to industrial buyers.
• Sustainable fuels Sustainable fuels produced from by-product feedstocks at the company's Haapavesi biorefinery, marketed to industrial fuel and energy buyers seeking renewable alternatives to fossil-based fuels.

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Kanteleen Voima OycoreStrategic or Co-development PartnerNordFuel Oy is being merged into its parent company Kanteleen Voima Oy. Operations will cease on 31 July 2026 and the company will be fully absorbed into Kanteleen Voima Oy. Invoices dated from 1 August 2026 onwards should be addressed to Kanteleen Voima Oy.

Recent moves3 records

Direct peers

• St1: Finnish energy company producing renewable fuels including bioethanol and biogas from waste and by-products. Operates multiple biorefinery sites in Finland/Nordics and shares the same bioethanol + biogas product mix as NordFuel.
• SunPine: Swedish biorefinery producing renewable diesel (RME/HVO feedstock) from tall oil, a by-product of Nordic pulp manufacturing. Directly comparable in feedstock (forestry by-products) and renewable fuel output to NordFuel's biorefinery model.
• Bioener Oy: Finnish biorefinery operating a biogas/LNG facility producing renewable fuel and biomethane from agricultural by-products. Comparable Finnish footprint and by-product-to-biogas value chain.
• UPM Biofuels: UPM's biofuels division operates one of the world's first commercial-scale biorefinery producing renewable diesel from crude tall oil (a forestry by-product). Most comparable to NordFuel as a Nordic biorefinery converting industrial by-products into renewable fuels.
• Renfuel: Swedish company developing Lignin-to-Liquid (LtL) technology for converting lignin — a biorefinery by-product — into renewable fuels. Highly relevant peer given NordFuel's explicit lignin output as part of its biorefinery strategy.

Broad incumbents

• Neste: Global leader in renewable diesel (HVO) and sustainable aviation fuel (SAF), headquartered in Finland. Massive incumbent in the same renewable-fuels-by-biorefining space, with vastly greater scale, technology portfolio, and offtake relationships.
• Clariant Sunliquid: Cellulosic ethanol technology platform from agricultural residues, commercialized by Clariant. Comparable second-generation (2G) cellulosic biofuel pathway to NordFuel's bioethanol-from-by-products positioning.
• Gasum: Nordic energy company processing biomethane and biogas from organic by-products and waste into transport fuels and renewable natural gas. Overlapping product line with NordFuel's biogas stream, at much larger scale.

Market position

Strengths3 records

Weaknesses4 records

Competitive moat1 record

Key risks5 records

Customer concentration

• Xx.com/nordfuel
• Facebookfacebook.com/NordFuelOy
• LinkedInlinkedin.com/company/nordfuel-oy

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 NordFuel