Biorefinery Östrand has signed an agreement for innovation support
In early December 2023, Biorefinery Östrand entered into an agreement with the European Climate, Infrastructure and Environment Executive Agency (CINEA). The agreement entitles the company to receive innovation support of approximately 167 million euros following a potential future investment decision.
Biorefinery Östrand is one of eight projects selected by the EU as most significant in the category of general emission reductions. The agreement between Biorefinery Östrand and CINEA stipulates that a future production of sustainable aviation fuel and biofuels will result in a climate benefit of nearly 9 million tons of carbon dioxide equivalents over the first ten years. This can be compared to the preliminary estimate of 306,000 tons of carbon dioxide emissions from Swedish domestic aviation in 2022 by the Swedish Environmental Protection Agency.
The support will be disbursed progressively in several stages, contingent on SCA and St1 deciding to invest in the biorefinery. If no investment decision is made, the project will not be implemented. Biorefinery Östrand is a company jointly owned by SCA and St1.
