The Finnish Climate Fund invests in hydrogen turbine manufacturer Aurelia Turbines.
The Finnish Climate Fund has granted a capital loan of €5 million to Aurelia Turbines. Aurelia Turbines produces the most efficient small gas turbines in the world. The turbines have been designed to use hydrogen, biogas and synthetic gas, as well as other renewable and non-standard fuels.
According to Matti Malkamäki, CEO of Aurelia Turbines, Aurelia’s products enable a flexible transition from fossil fuels to low-carbon solutions.
Matti Malkamäki, CEO of Aurelia Turbines:
A customer can buy a turbine from us and run it on natural gas or biogas, for example.
“With very few modifications, the same turbine can also use hydrogen as a fuel when hydrogen will be available for the customer. Our technology acts as a bridge between today and tomorrow. The Climate Fund will enable us to build this bridge faster”, says Malkamäki.
Climate Fund CEO Paula Laine is pleased with the opportunity for the company’s financing to accelerate the wider adoption of Aurelia Turbines’ solutions towards greater emission reductions: ’All our financing decisions are based on impact through our financing criteria, including emissions reduction potential.
For the first time, our financing now includes a separate sustainability incentive that affects the terms of the loan with which we want to encourage Aurelia Turbines to further increase the share of hydrogen and other emissions-reducing solutions in its business.’
The Aurelia®A400 turbine is ideally suited for small-scale combined heat and power (CHP) generation in decentralised grids across the world. It has been designed to meet the needs of small- and medium-sized industrial processes.
The turbine provides clients with the flexibility needed to balance changes in renewable energy generation. These 400 kWe turbines may be up to 20% more energy efficient than other microturbines of the same size currently on the market. All Aurelia®A400 variants have been developed to deliver low emissions.
“The goal is to meet the demand for cleaner and more flexible power generation for the future. Producing electricity, heat and, in some cases, cooling locally to the user ensures reliability and minimises losses during transmission and conversion”, says Malkamäki.
Aurelia Turbines’ technology is based on research conducted at LUT University in Finland over the last 35 years and, more recently, the German Aerospace Center (DLR).
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The Finnish Climate Fund invests in hydrogen turbine manufacturer Aurelia Turbines, December 2, 2021
