Finland-headed oil, gas, marine, and energy technology major Wärtsilä Corporation has announced that it has invested a further EUR 1 million in Soletair Power Oy, a compatriot direct air capture (DAC) technology company. This follows Wärtsilä’s original EUR 0.5 million investment in Soletair Power in 2019, and this investment enables Soletair Power to further its global sales efforts and to scale up the manufacturing of its carbon dioxide (CO2) capture solution for building ventilation.
According to Wärtsilä, Soletair Power has developed a “breakthrough solution” for capturing carbon dioxide (CO2) from the air in buildings that can be used when creating synthetic renewable fuel. This latest investment enhances Wärtsilä’s position at the forefront of decarbonization technology and the capture and utilization development of CO2.
In addition to producing synthetic renewable fuels, the carbon captured from the air can be used for various purposes and industrial applications, such as in the food industry.
Integrating carbon capture in building ventilation
According to Wärtsilä, direct air capture of CO2 is an essential element of the world’s efforts towards decarbonization. Soletair Power’s technology is the first in the world with building integration, which opens a unique business case with several value streams.
Capturing CO2 from in-house air allows occupants to perform better, which is applicable especially in schools and workplaces. The solution also turns buildings into carbon sinks that support cities going carbon neutral. Soletair Power’s technology represents the new era of circular economy in the form of carbon utilization.
Wärtsilä and Soletair Power are both committed to creating a sustainable future through technology development. Cooperating with Wärtsilä has been very fruitful and they have supported our development beyond the typical investor role. This latest Wärtsilä investment will play an important role in allowing us to meet the growing demand for cost-efficient and carbon-neutral solutions, said Petri Laakso, CEO of Soletair Power.
Wärtsilä is a technology leader in the development of systems and solutions that promote decarbonisation in the energy and marine markets. Wärtsilä, together with Soletair Power and Q Power, a Finnish company specializing in synthetic fuel technologies, developed the first demonstration unit producing synthetic methane from captured CO2 in 2020.
One of the cornerstones of Wärtsilä’s Smart Energy vision is to collaborate with strategic partners, such as cutting-edge technology companies, research institutes, and start-ups, to accelerate innovation and promote the commercialization of new and exciting solutions. By supporting new businesses that can create a leap forward towards decarbonizing our world, we are endorsing the commitment the company has made to sustainability and the transition towards a 100 percent renewable energy future. Soletair Power has already demonstrated how the captured CO2 can be turned into synthetic renewable fuels, and there are many other interesting applications under development in different industries for its utilization, said Matti Rautkivi, Director, New Business at Wärtsilä Energy.
