Scandinavian Biopower Oy has announced its intention to invest in a 200 000 tonne per annum capacity biocoal plant in Finland. The plant is to be built during 2017 - 2018 subject to meeting terms of the investment decision.
Scandinavian Biopower Oy, a wholly owned subsidiary of Dutch private equity investment company Momentum Capital, has announced that it made an investment decision to commission a 200 000 tonne per annum biocoal plant in Mikkeli, Finland. The estimated EUR 70 – 80 million investment will be funded by a consortium led by Momentum Capital together with Finnish and foreign investors who have expressed their interest in the biocoal plant investment. Provided that all conditions of the investment decision are met, the biocoal plant will be built during 2017 – 2018.
CEG torrefaction tech
According to Mika Hassinen, Head of Business Development, Momentum Capital the biocoal plant will be based on proprietary torrefaction technology developed by Clean Electricity Generation BV (CEG), a joint venture company with Momentum Capital, the Netherlands and Transformative Energy and Materials Capital (TEM Capital), USA. The company is operating a full-scale demonstration plant located in Derby UK via its subsidiary CEG UK Ltd. The Derby plant uses the CEG proprietary torrefaction technology to convert the biomass into electricity and biocarbon products.
For the planned Mikkeli plant the main product will be biocoal pellets produced from sustainable woody biomass for the energy sector. In addition, other biocarbon products like biochar and activated carbon substitute type materials can be produced for various other technical end use purposes. The plant can also produce liquid by-products, such as pyrolysis oil and wood vinegar, which are generated within the production process and can be further refined for other high-value applications.