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Arctic Paper invests in Swedish bioenergy

Arctic Paper invests in Swedish bioenergy
Located in Grycksbo, County Dalarna, Arctic Paper Grycksbo mill can trace its papermaking heritage back to 1740. A biomass boiler was installed in 2009, and the mill currently consists of two paper machines with a combined annual capacity of around 220 000 tonnes of coated paper (photo courtesy Arctic Paper).

Poland-headed paper major Arctic Paper S.A. has announced that it will invest SEK 285 million (≈ EUR 24.3 million) in the expansion and upgrade of the biofuel installation at its Arctic Paper Grycksbo mill in Grycksbo, Sweden.

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According to a statement, the investment in Grycksbo will provide annual energy cost savings of SEK 50 million (≈ EUR 4.3 million).

In addition to electricity and steam, the installation will produce 50 000 tonnes per annum of wood pellets at an estimated value of approximately SEK 100 million (≈ EUR 8.53 million) to be sold on the market.

Thanks to the biofuel boiler, Arctic Paper Grycksbo has a low climate footprint and a competitive energy mix. Now we are taking the next step as part of our long-term strategic plan to diversify into green energy. The investment will save SEK 50 million per year in energy costs for the mill while it adds an additional revenue stream as the sale of wood pellets – a circular business: the pellets are made of residuals from sawmills – is expected to generate revenues of approximately SEK 100 million per year, said Michal Jarczyński, CEO of Arctic Paper.

The main biofuels used will be sawdust and woodchips, but the modernized biomass boiler is flexible and other biofuels can be used.

The investment will be financed by bank loans and equity and is expected to be completed during the first half of 2025.

The investment will secure the long-term competitiveness of Arctic Paper Grycksbo as a premium supplier of high-quality coated paper, concluded Michal Jarczyński.

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