13. Dec 2024
Min side
+47 815 20 080
FlexFuels Awarded Up to €37.5 Million from the EU Innovation Fund
The funding marks a significant milestone in the company’s journey towards a greener alternative for maritime and industrial fuel.
FlexFuels, a subsidiary of Gasnor, has been awarded up to €37.5 million from the EU Innovation Fund for its groundbreaking work in developing an eco-friendly production method for methanol. The funds will be used to develop and build facilities for the production and testing of methanol with reduced greenhouse gas emissions. The company aims to establish a more climate-friendly value chain that can significantly reduce the carbon footprint for both maritime and industrial sectors.
“This project is a crucial milestone for the future and a necessity to meet the growing demand from both customers and authorities for sustainable fuel alternatives,” says Anders Torp Rød, CEO of Gasnor. “With this support, we can accelerate the development of low-emission methanol production and meet the increasing market demand.”
The company received the funding following a successful application to the EU Innovation Fund, where the project was recognized as a significant pilot initiative in green innovation. In total, the project can receive up to €37.5 million, depending on the progress and results achieved during the project.
“The grant from the EU is a significant support for FlexFuels,” says Pål Vigmostad, CEO of FlexFuels. “This gives us the opportunity to lead the transition to more sustainable energy solutions.”
For more information, please contact:
Anders Torp Rød
CEO Gasnor
+47 476 34 242 / anders.roed@gasnor.no
Pål Vigmostad
CEO FlexFuels
+47 907 11 111 / pv@flexfuels.energy
Anders Torp Rød
Pål Vigmostad