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Fossil Free Marine receives Swedish Government investment grant approval
Fossil Free Marine has received approval from the Swedish Environmental Protection Agency, Naturvårdsverket, regarding a grant application for the production, installation and operation of the world’s first marine fuel station designed specifically for large scale distribution of renewable fuels for boats, such as HVO100 renewable diesel (e.g. Neste My, from Finnish Neste).
The grant is specifically for “Incremental costs associated with supplying renewable fuels”, and is part of a Swedish government scheme, supporting local climate investments. In the motivation, Naturvårdsverket says that the initiative is “…is among those that exhibit the highest sustainable reduction in greenhouse gas emissions per invested krona (SEK)”.
Among other agencies, the Swedish Transport Agency (Transportstyrelsen) have been a referral body, expressing that this initiative will “…bring forward the possibilities to refuel with fossil free fuels in the maritime sector”.
Fossil Free Marine welcome the decision by Naturvårdsverket, which will enable the company to go ahead with its plans for production of the first full scale FFM Marine Station, after several years of intense development work. The first installation will be made near central Stockholm, serving the many thousands of boats who operate in Stockholm’s inner waters, all year long.
-I am immensely proud of the Fossil Free Marine team, and the hard work and efforts that lie behind this acknowledgement of what our innovative technology can deliver in terms of positive environmental impact, says Karl-Oskar Tjernström, co-founder and CEO of Fossil Free Marine.
Fossil Free Marine continues to push ahead to finalize design of its unique unmanned floating marine fuel station, making it ready for procurement of first production ahead of launch 1H 2022. Fredrik Törnqvist, newly elected Chairman of the board of Fossil Free Marine, concludes;
-This approval marks a major milestone, and a big step towards delivering on our vision to enable the transition to sustainable boating!
About KlimatKlivet:
“The Climate Leap”, KlimatKlivet, is a Swedish government grant, dedicated to supporting local climate investments, with clear and measurable climate impact. The grant application process is administered by Naturvårdsverket, and the local County Administrative Board (Länsstyrelsen). More about KlimatKlivet: https://www.naturvardsverket.se/amnesomraden/klimatomstallningen/klimatklivet)
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Fossil Free Marine is a Swedish impact scale-up, committed to making boating sustainable on a global scale, through infrastructure solutions that allow financially viable, safe and environmentally friendly distribution of renewable drop-in biofuels, and marine superchargers for fast charging of future electric boats.
The business model is scalable, profitable and highly impactful and can make boating sustainable, all over the world. The company was founded in 2019, has finalized its first pre-seed financing round as well as received two grants from “The Climate Leap” (KlimatKlivet). Fossil Free Marine is a member of the Swedish Impact Hub Norrsken House.
