Wärtsilä has upped its stake in Soletair Power, a Finnish carbon dioxide (CO2) direct air capture technology company, investing an additional €1 million. This follows Wärtsilä’s original 2019 investment in Soletair Power of €500,000.
Soletair Power has developed a solution for capturing the CO2 from air in buildings that can be used when creating synthetic renewable fuel. The captured CO2 is integrated to an electrolyzer and synthesis unit where it gets converted to fuels or other hydrocarbons.
This latest investment enables Soletair Power to further its global sales efforts and to scale up the manufacturing of its CO2 capture solution for building ventilation. The investment enhances Wärtsilä’s position in decarbonization technology, and the capture and utilization development of CO2. In addition to producing synthetic renewable fuels, the carbon captured from air can be used for various purposes and industry applications, such as in the food industry.
“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,” said Petri Laakso, CEO of Soletair Power. “This latest Wärtsilä investment will play an important role in allowing us to meet the growing demand for cost-efficient and carbon-neutral solutions.”