Taaleri, Tesi, and investor group invest €16 million in Ren-Gas

In addition to the company's founders, Ren-Gas's largest owners are Allianz and Ilkka Herlin's investment company Suomen Tavara ja Raha Oy, which also participated in the company's financing round.

Ren-Gas is a Finnish company founded in 2021 with the aim of building an extensive network of P2G gas production plants across Finland in cooperation with local energy companies. The company's flagship project in Tampere is ready for construction, and the company's project development pipeline includes a total of more than 700 MW of electrolysis capacity, which corresponds to the annual fuel needs of approximately 7,000 trucks in freight transport. Ren-Gas's sector integration business model, combined with the use of the internally developed NRG SIMO optimisation platform, enables exceptionally cost-effective hydrogen and e-methane production for the European renewable electric fuel market.

Demand for renewable fuels is growing rapidly in Europe, and Ren-Gas benefits from Finland's low renewable electricity prices, strong electricity grid, sector integration, and existing gas infrastructure. The company's projects are expected to deliver significant emission reductions and are in line with the EU taxonomy and the UN Sustainable Development Goals.

"We are very pleased with this first investment under our new growth capital strategy. Ren-Gas represents exactly the kind of innovative and sustainable technology we want to invest in. The company's solutions support the energy transition and significantly reduce emissions," says Antti Salmela, Investment Director at Taaler.

"The European hydrogen market is developing rapidly, and Ren-Gas is in an excellent position to meet the growing demand for e-methane. We are very pleased to have Taaler and Tes as investors in Ren-Gas's growth story," says Saara Kujala, CEO of Ren-Gas.

"This financing round will enable us to leverage the advantages of being an early player in a rapidly developing industry. The funding round strengthens our balance sheet and our ability to implement the development projects in our portfolio, while allowing us to benefit from Taaler and Tes's strategic support and experience in building renewable energy value chains and companies in Finland. We would also like to thank our advisor ICECAPITAL, which has supported us almost from the beginning," says Juhani Häyrinen, CFO of Ren-Gas.

"Ren-Gas is one of Finland's most advanced P2X project developers, and the company's strong growth will continue to be driven by the regulation of cleanly produced fuels at both the national and EU levels. The company fits Tesin's investment strategy for industrial-scale projects, and we are delighted to support the creation of a new industrial hydrogen value chain in Finland and, at the same time, Ren-Gas on its promising growth path," says Esa Koponen, Investment Director at Tesin.

"We have been supporting Ren-Gas since 2022, as the company focuses on producing RFNBO-compliant fuels on a large scale for the European market. We are delighted to welcome Taaleri and Tesi as new investors, enabling the next phase of development for this innovative Power-to-X platform. The financing round will take energy transition infrastructure projects from the development phase to implementation and enable concrete emission reductions in the transport sector," says Igor Lukin, Senior Portfolio Manager at Allianz Global Investors.