Bioproduct factory business transferred to NordFuel Oy

Kanteleen Voima Oy has decided to implement the business transfer concerning the NordFuel bioproduct factory project from Kanteleen Voima Oy to its subsidiary NordFuel Oy. The transfer will take place May 1, 2024.  

With the business transfer, the company is preparing for the next phases of the NordFuel bioproduct factory project. The ownership of NordFuel will not change, and Kanteleen Voima will continue as the parent company of NordFuel. Kanteleen Voima is owned by Oy Katternö Kraft Ab, Suomen Voima Oy, Valkeakosken Energia Oy and Ålands Elandelslag. Kanteleen Voima will continue the peat business.  

”The business transfer to the project company is a step forward in the NordFuel project. Separating the businesses of parent company and its subsidiary strengthen the brand and operational culture of bioproduct factory project when moving from energy production to chemical industry”, says Matti Asikainen, CEO of Kanteleen Voima and NordFuel.  

In March, NordFuel announced that the company had selected Finnish Chempolis as technology provider. Simultaneously, the company launched funding round. The selection of the technology provider started the basic design phase that will take approximately 6-9 months. In the basic design phase, the essential documentation for the implementation of the project and the budgeting is prepared for the bioproduct factory project. 

Additional information:  

Matti Asikainen 
Kanteleen Voima Oy 
NordFuel Oy 
+358 40 553 4926 

Matters concerning business transfer and invoicing:  

Jaana Puolitaival 
NordFuel Oy 
Financial assistant 
+358 50 454 9371