Verso eyes Oulu for hydrogen and synthetic fuel hub

In Cyprus, Cyprus Shipping News reports Verso Energy, a French energy company, has reserved land at Finland’s Port of Oulu for a potential plant to produce hydrogen and synthetic fuels, leveraging the region’s low-cost renewable energy and abundant biogenic carbon dioxide to support aviation and shipping industries.

Antoine Huard, CEO of Verso Energy, emphasized the advantages: “The region provides an abundance of affordable renewable energy and biogenic carbon dioxide. The University of Oulu, with its extensive research into hydrogen, ensures a sufficient talent pool.” Finland’s electricity costs, the lowest in the EU for non-household customers, further support the project.

The Port of Oulu, part of the EU’s TEN-T transport network, offers connections by road, rail, and sea, while ongoing projects, such as Gasgrid Finland’s hydrogen transport infrastructure, enhance the area’s industrial ecosystem.

AFRY Finland, a consulting firm, assessed the project’s viability as high, citing Verso’s robust financial backing and clear business plan. Details of the project will be revealed at the Northern Power event on February 13, 2025. If approved, the plant would bring significant investment and job creation to northern Finland.

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