Statkraft, Soedra Join Forces to Produce Wood-Based Clean FuelLouise Downing
Statkraft AS, a Norwegian utility, and forestry business Soedra agreed to form a company that will produce clean fuel from wood.
Under the deal Statkraft will buy out Soedra Cell Tofte AS, owner of an industrial site in eastern Norway capable of handling large amounts of wood, Vaxjo, Sweden-based Soedra said in a statement on its website.
“Soedra is monitoring with great interest the technology developments and the business opportunities presented by the use of forest raw materials for industrial production of climate-neutral fuels,” Chief Executive Officer Lars Idermark said in the statement.
Soedra and Statkraft will form a biofuel company, with Soedra taking 49 percent and Statkraft the rest.