The vision of St1 is to be the leading producer and seller of CO₂-aware energy. Renewable energy production is at the very core of the corporate strategy: our goal is to gradually replace fossil energy with renewable solutions.
The base of our business strategy lies in St1 Outlook that summarizes the global energy challenge we all are facing. There is an urgent need in the world to create new, cost-efficient renewable energy solutions. Although the share of renewable energy is growing, fossil energy continues to grow much faster.
The transition to renewable energy is inevitable and it has already started. However, it requires a lot of R&D work and also smart political decisions to stop the climate change. St1 wants to be at the forefront of the energy industry in the transition process. We are constantly striving to identify opportunities and looking for competent cooperation partners in potential business segments and markets.
St1 currently has several wind power projects under way in Norway and Sweden. The project that is the furthest along is the 800 MW Davvi wind farm project in the northern part of Eastern Finnmark in Norway, which is currently in the permit phase.
St1 offers operation of wind farms in Finland as a service business, 245 MW in total.
Biogas is a key growth opportunity for St1 within the energy transition. Liquefied biogas is an existing solution to achieve substantial emissions reductions in traffic, especially for heavy-duty transport.
St1 Biokraft AB is a joint venture between St1, HitecVision and Aneo. It consists of former St1’s biogas assets and Biokraft International AB. St1 Biokraft integrates the two entities into one company with the ambition of becoming the leading biogas company in the Nordics.
St1 Biokraft will operate an end-to-end biogas value chain, from feedstock sourcing all the way to sales and distribution. St1's strong sales organization and network will continue the distribution of St1 Biokraft’s products.
In Finland, St1 Biokraft and the food company Valio have a joint venture to produce renewable biogas from dairy farm manure and other agricultural by-products as fuel for heavy-duty transport. The joint venture company, Suomen Lantakaasu Oy, is planning to build Finland’s biggest biogas production plant in Upper Savo, Finland.
St1 has built a new biorefinery in collaboration with SCA, situated next to St1's oil refinery in Gothenburg. The biorefinery has an annual capacity of 200,000 tons of biofuels and produces sustainable aviation fuels (SAF), Bio-Diesel (HVO), Bio-Naphtha, and Bio-LPG.
The biorefinery is flexibly designed to use various types of raw materials, ranging from used cooking oil to animal fats and tall oil. To secure the supply of raw materials and establish long-term partnerships with supply chain partners, St1-owned Brocklesby Ltd, specialists in recycling food waste from the food industry, plays a crucial role in securing the availability of raw materials.
The fuels produced at the biorefinery will lead to an annual reduction in emissions from road and air traffic by approximately 500,000 tons of CO₂ compared to their fossil counterparts. All products at the Gothenburg Biorefinery are certified according to the sustainability certification ISCC (International Sustainability & Carbon Certification).
As a company in transition, we need to uncover new avenues for sustainable growth and feasible future energy solutions. St1 is looking at the entire field of renewable energy and searching for potential new technologies that can be commercialized.
We are exploring the opportunities of, for example, energy storage systems and solar power in order to bring you new, smart energy options for the future.
The global energy challenge requires also a major increase in biological carbon sinks. St1 ran a Carbon Farming pilot project in Morocco between 2018 and 2022 in order to explore reduction of coal from atmosphere with afforestation.
Read more about the Moroccan pilot project in the research report.
