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Wartsila to provide seed funding to Finnish Power-to-X start-up

Frada, Vice President, Business Development, Finance and Control, Wärtsilä Energy Business and Ari Piispanen, shareholder, Soletair Power Oy, signed the seed funding contract. Source: Wärtsilä

April 15 (Renewables Now) - Finnish technology group Wartsila Corp (HEL:WRT1V) has entered into an agreement to provide EUR 500,000 (USD 565,450) in seed funding to Finnish renewable fuel start-up Soletair Power Oy.

Specialising in the field of Power-to-X, Soletair Power has developed a concept that involves capturing carbon dioxide (CO2) from the air and converting it to synthetic renewable fuel in a drive to improve air quality in buildings.

Wartsila said in a press statement on Monday that it sees great value in Soletair Power’s concept and intends to provide global support in the development and commercialisation of the technology.

The financing deal was signed on April 12, according to the announcement.

(EUR 1.0 = USD 1.131)

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