NextFuel signs agreement with Taaleri

NextFuel AB and Taaleri Plc have signed an agreement giving Taaleri the right to license NextFuel’s new torrefaction technology in their planned biocoal project in Joensuu, Finland, and in other future projects.

“We are pleased that Taaleri has chosen NextFuel as their technology partner, and we look forward to working closely together with them during this project. The agreement is a major milestone on our roadmap to get companies all over the world to use our superior technology to make a profitable clean successor to fossil fuels”, says CEO in NextFuel AB, Stefano Romano.

NextFuel’s new torrefaction technology makes it possible to produce a clean copy of coal in less than 30 minutes. The new fuel can be produced from a large variety of abundant biomass raw materials, including forestry residues, elephant grass, bagasse and other types of fast growing energy crops, that can be grown on marginal land not suitable for food production. The energy content is similar to coal (22-28 GJ/t), and the briquettes can be used directly in existing energy infrastructure, making it possible to fast and inexpensively phase out coal with a clean alternative. This new fuel is carbon neutral, and can even be carbon negative, depending on the type of crop used and local conditions. NextFuel’s business plan is to license this technology to companies all over the world.

Taaleri announced last December that they were preparing to build its first biocoal plant in Joensuu, Finland, on Savon Voima Oyj’s power and heat plant site. Taaleri Plc also plans to build more biocoal plants in the future, likely in Europe and North America.

It is estimated that the biocoal plant will commence operations in 2022. Joensuun Biohiili Oy will build and operate the plant and NextFuel AB will provide the process technology for the plant. The companies have also agreed for an option for possible future projects. NextFuel will receive a licensing fee per tonne produced, and has also been given the opportunity to co-invest and take equity positions in this and other possible future Taaleri projects.

- By utilizing NextFuel’s torrefaction technology, we believe this gives us a clear competitive edge in the biomass industry, this agreement will strengthen our project even further, says Taaleri Plc CEO, Robin Lindahl.