Verso Energy is a French-based company who has recently taken the leap and has reserved a site at Finland’s Port of Oulu. The company’s plan for this site is to build a new and innovative hydrogen and synthetic fuels production plant.

The reason behind the interest in this particular site, is that the company is aiming to utilise the Scandinavian country’s low electricity costs. From here, once the plant is set up, Verso has aims to build on their original plans to host e-fuel production within France. This production that the company is set on, is expected to use green hydrogen, whilst also capturing carbon dioxide.

Verso Energy stated that, ‘the northern Oulu region posed an attractive location due to its low-cost power, biogenic CO2 and existing business ecosystem.’

The company also said that, “In the first half of 2024, the price of electricity for non-household customers in Finland was the lowest in the EU (€0.0939 per kWh).”

Verso CEO, Antoine Huard, commented, “We are interested in building a plant for high value-added production in Oulu because the region provides an abundance of affordable renewable energy and biogenic CO2. The existing business ecosystem also offers us potential customers and subcontractors. As part of the TEN-T core transport network, the Port of Oulu, with its rail and road links, provides good connections to the rest of the world.”