Ren-Gas eNRG Kotka e-methane project Secures €42 Million EU Innovation Fund Grant
28.10.2024 | Ren-Gas, a prominent European hydrogen developer, has further solidified its leadership in the hydrogen industry by obtaining a significant grant from the EU Innovation Fund. This accomplishment highlights Ren-Gas’s dedication to develop the world’s most competitive hydrogen value chain in Finland.
Ren-Gas is proud to announce that its eNRG Kotka project has been awarded a €41.9 million grant from the EU Innovation Fund. This significant subsidy funding is a key milestone in the path to final investment decision of the project. It also accelerates the development of Ren-Gas portfolio and the cost-effective decarbonization of the transportation and energy sectors.
eNRG Kotka project is a Power-to-Gas facility that produces renewable e-methane, green hydrogen, and district heating from excess process heat. This project is central to Ren-Gas’s goal of building a e-methane production network in Finland by 2030, which will deliver significant amounts of renewable fuels for road transportation and maritime sectors. Ren-Gas has six extremely well concepted projects under development in Finland.
Ren-Gas has previously secured investment grant from the Finnish Ministry of Economic Affairs and Employment for its first project in Tampere. For its eNRG Lahti project, Ren-Gas was awarded 10-year production subsidy from EU hydrogen bank auction in Spring 2024. In addition, carbon capture and methanation equipment for Lahti project received significant energy investment subsidy from the Finnish Ministry of Economic Affairs and Employment in October 2024, further strengthening Ren-Gas’s position as a leader in European hydrogen space.
A major milestone for the Kotka project
“We are thrilled to receive this grant from the EU Innovation Fund for our eNRG Kotka e-methane project. We have developed this project in close collaboration with our energy utility partner Kotkan Energia, and with strong support from City of Kotka. We have already secured subsidy funding for two plants in our portfolio. This support from EU Innovation Fund is a major milestone for eNRG Kotka project, and for our entire portfolio. It enables us to plan the construction and operation of our portfolio of Power-to-Gas projects in an integrated and optimised manner. We are committed to driving innovation and sustainability, and this grant is a testament to the hard work and dedication of our team, and support from our partners”, said Saara Kujala, CEO at Ren-Gas
“eNRG Kotka is a truly significant project, and it has been fantastic to develop it together with the top-notch team at Ren-Gas. The support from the EU Innovation Fund ensures that eNRG Kotka will swiftly move towards the final investment decision and the production of renewable transport fuels,” commented Tommi Göös, Project Manager of eNRG Kotka
Ren-Gas is recognized as the leading European hydrogen developer, and this grant is a clear evidence of Ren-Gas’ leadership in the field. Ren-Gas’ innovative project concept, very strong partners cross the value chain, and consistent support from both the EU and the Finnish Government highlight company’s commitment to advancing European e-methane value chain and reducing greenhouse gas emissions.
The EU Innovation Fund supports innovative low-carbon technologies and projects that contribute to the clean energy transition. The selection of eNRG Kotka project highlights the project’s potential to make a significant impact on reducing greenhouse gas emissions and promoting renewable fuels in Europe.
Source: Ren-Gas website.