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Former employees continue biofuel technology development at Tofte

Statkraft AS

Thu, February 19, 2026 at 7:00 PM GMT+9 2 min read

Statkraft AS

(Oslo, 19 February 2026) Statkraft and a group of former employees of Silva Green Fuel have reached an agreement that enables the continued testing of technology for biofuel production at Tofte.

As part of its new strategy, Statkraft is prioritising profitable growth within established technologies such as hydropower, solar, wind and battery solutions in core markets. To reduce the number of technologies in its portfolio, the company has, among other initiatives, worked to find new owners for the biofuel company Silva Green Fuel.

Through Silva Green Fuel, Statkraft has been involved in testing and demonstrating new technology to produce advanced biofuels. This work has also received support from Enova. Biofuels are believed to contribute to significant emissions reductions in the future.

Under the agreement now in place, the accumulated technological expertise and the demonstration facility will be transferred to Silva Biofuel AS, a new company owned by former employees of Silva Green Fuel DA, with Joakim Sværen appointed as CEO.

“The team at Tofte has made a substantial effort to develop this technology and has built up leading technological expertise. We are pleased to have reached an agreement that gives former employees the opportunity to continue this work,” says Henrik Sætness, Executive Vice President for Corporate Development at Statkraft.

“This agreement marks an important milestone that enables us to step up our investment in HTL technology. The solution is attracting significant international attention and is among the most promising options for emissions reductions in hard-to-abate sectors. We are now entering a new phase in which we invite investors to join us in further maturing the technology, with a clear ambition to realise commercial plants in the years ahead,” says Joakim Sværen, CEO of Silva Biofuel AS.

The transaction is subject to regulatory approval.

For further information, please contact:
Geir Fuglseth, Media Contact, Statkraft AS
Tel: +47 913 70 572
E-mail: geir.fuglseth@statkraft.com

Joakim Sværen, CEO Silva Biofuel AS
Tel: +47 456 00 160
E-mail: joakim.svaeren@silvabiofuel.no

About Statkraft
Statkraft is a leading company in hydropower internationally and Europe’s largest generator of renewable energy. The Group produces hydropower, wind power, solar power and gas-fired power. Statkraft is a global company in energy market operations. Statkraft has around 7,000 employees in more than 20 countries.

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