Finnish asset manager Taaleri Plc announced its investment decision to build a plant to produce torrefied biomass in Joensuu, Finland.
The facility, valued at €20m ($22.6m), will be built by Taaleri’s company Joensuu Biocoal Oy, with construction to start in spring and expected to begin operations in mid-2023.
It is expected to produce approximately 60,000 tonnes of torrefied biomass per year, using by-products from the forest industry and forestry, mainly bark and first thinnings. Torrefied biomass can replace coal in the cement and steel industries.
The plant will be located on the site of Savon Voima Oyj’s combined heat and power (CHP) plant and will also use certain equipment and services provided by Savon Voima.
The project has received investments from several Finnish family-owned companies. It has a €3.4 million grant from the Centre for Economic Development, Transport and Environment and a €5 million equity loan from the Climate Fund.
Taaleri said he intends to build more bioindustry plants in the future.
Source: Renewables Now (2022)