Wärtsilä has invested €1m in Soletair Power Oy, a Finnish CO2 direct air capture technology company that has developed a breakthrough solution for capturing CO2 from air in buildings that can be used when creating synthetic renewable fuel.
The technology company confirmed its investment earlier this week (2nd March) as part of an effort to strengthen its commitment to decarbonisation technology as Europe strives to meet ambitious net-zero goals.
Further to enhancing Wärtsilä’s capabilities, the investment also enables Soletair Power to further its global sales efforts and to scale up the manufacturing of its CO2 capture solution for building ventilation.
Commenting on the investment, Matti Rautkivi, Director, New Business at Wärtsilä Energy, said, “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 commercialisation of new and exciting solutions.”
“By supporting new businesses that can create a leap forward towards decarbonising our world, we are endorsing the commitment the company has made to sustainability and the transition towards a 100% 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 utilisation.”
Petri Laakso, CEO of Soletair Power, added, “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.”
This week’s investment follows an original €500,000 investment made in 2019.