Helsinki, Finland. Voima Ventures is proud to announce our lead investment in Liquid Sun, a Finnish green tech company that has raised nearly €4 million to accelerate the development of sustainable aviation fuel (eSAF). This funding marks an important step in bringing Finland’s first eSAF production testing facility to life, positioning the region as a leader in renewable aviation solutions.
Liquid Sun is transforming two of the most abundant resources on Earth—carbon dioxide (CO₂) and water—into a synthetic aviation fuel. Using their proprietary low-temperature electrolyser, they convert these elements into eSAF, a renewable alternative to fossil-based jet fuels.
This innovation addresses a critical global challenge: the aviation industry’s significant contribution to greenhouse gas emissions. With EU mandates requiring 70% of aviation fuel to be sustainably produced by 2050, Liquid Sun’s technology represents a scalable and impactful solution to help meet these ambitious climate goals.
The market for sustainable aviation fuel is expected to increase from €2 billion in 2030 to over €60 billion by 2050 and with demand already outpacing supply, Liquid Sun is uniquely positioned to capture this growth and lead the way in making air travel cleaner and more sustainable. Their upcoming 66-square-meter demonstration plant will be the first major step toward large-scale eSAF production.
This funding round was made possible through the collaboration of like-minded investors committed to sustainability. We’re thrilled to partner with Failup Ventures, Business Finland, and other contributors to support Liquid Sun’s mission.
“Securing this funding in a challenging market proves Liquid Sun’s potential as a serious player in the e-fuel market,” said Samuel Thesleff, Chairman of Liquid Sun. “This is just the beginning as we scale eSAF production and help Finland achieve its emission reduction goals.”
Co-Founders Left to Right: Dr. Pasi Keinänen (CEO), Samuel Thesleff (Chairman), Panu Nordlund (Brand & Communications)
“At Voima Ventures, we believe in the transformative power of deep tech,” added Pontus Stråhlman, Partner at Voima Ventures. “Liquid Sun’s ability to turn CO₂ into renewable fuel isn’t just innovative, it’s a much needed solution for the aviation industry and a critical step toward a more sustainable planet.”
The Nordics offer a unique ecosystem, rich in renewable energy and biogenic CO₂ from the forest industry, Finland makes for an ideal hub for eSAF production. With strong government support and abundant resources, Liquid Sun is well-positioned to lead the Nordic region in advancing sustainable aviation.
Looking ahead Liquid Sun’s journey represents more than just technological innovation, it’s a bold move toward reshaping the aviation industry and reducing the environmental impact of air travel. We are proud to support this extraordinary team as they work toward a cleaner, more sustainable future.
For more information about Liquid Sun and their research work, visit liquidsun.co.
