Octopus Energy Generation has invested in sustainable fuels expert Nordic Generation Fuels (NGF) on behalf of its Octopus Energy Transition Fund (OETF) and Sky Fund.
The investment will enable NGF, which is backed by Business Finland, Finland’s government agency for trade and investment promotion, to develop two new fuel production facilities in Finland with the ability to generate enough fuel to power nearly 2,000 flights from London to New York each year. Construction of the facilities is expected to start in the next few years, with one aiming to be operational in 2030.
The sustainable aviation fuel will be produced by capturing biogenic carbon dioxide, or carbon emitted by biological material, and combining it with green hydrogen — both of which are abundant in Finland. This fuel will then be supplied to airlines and fuel companies, enabling planes to take off with a lower environmental impact.
Sustainable aviation fuel currently makes up less than 1 per
