New Leading Company Sumitomo SHI FW aims to enhance Finland's energy security
Business Finland has awarded €10 million funding to Sumitomo SHI FW Energia Oy’s (SFW) Leading Company (Veturi) project. The Net Zero Energy Ecosystem (NZEE) project focuses on developing integrated carbon emission reduction solutions to help achieve climate goals and enhance energy security by 2050. During the project, SFW will commit €50 million in its RDI activities in Finland.
The project enables Finnish SMEs to access new high growth technology markets. The project aims to engage at least 50 partners.
SFW creates a Net Zero Energy Ecosystem
At the core of SFW’s Leading Company (Veturi) program are solutions that enable a Net Zero Energy Ecosystem (NZEE). Based in Finland, the program develops solutions for the production of sustainable fuels and chemicals, enhancing energy security through long-duration energy storage, carbon capture, utilization, and storage (CCUS) for energy and heavy industries, and optimizing digital lifecycle services in the industrial sector.
“Various parts of the hydrogen economy value chain are already being developed in several ongoing leading company projects. SFW's initiative complements these excellently, and together with its ecosystem partners, the company will help boost Finnish exports. The solutions in this leading company project will play a key role in achieving Finland's energy security and climate goals. At Business Finland, we strongly believe that the project will also promote new plant investments in Finland,” says Lassi Noponen, Director General of Business Finland.
“The NZEE ecosystem achieves net zero or even negative carbon emissions by balancing energy consumption with renewable energy production and storage. The NZEE program’s objective is to integrate different industry sectors and solutions in the ecosystem by filling in its missing links. Simultaneously, the industry sectors and solutions become part of wider energy systems, and the ecosystem evolves,” says SFW’s CEO Tomas Harju-Jeanty.
Read more in Sumitomo SHI FW’s press release
About Business Finland's Leading Company Funding
Through Leading company challenge competitions, Business Finland seeks research and development projects for funding from companies that operate globally or aim for global operations. These projects should tackle major future challenges and make a significant impact on Finland’s competitiveness. Leading companies are expected to significantly increase their R&D activities in Finland and build ecosystems aimed at new business ventures. In addition to funding the leading company’s projects, Business Finland also offers funding for R&D projects from partners within leading companies’ ecosystem.
More information
Net Zero Energy Ecosystem, NZEE
Read more on the NZEE website
Further information
Business Finland
Jarkko Piirto
Senior Director
jarkko.piirto (at) businessfinland.fi
050 312 8622
Sumitomo SHI FW
Stefan Nygård
NZEE Program Lead / VP Strategy & Marketing
stefan.nygard (at) shi-g.com
040 867 6784
