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Statkraft has reached an agreement to transfer its biofuel demonstration facility and expertise at Tofte to a new company, Silva Biofuel AS, formed by former Silva Green Fuel employees. This decision aligns with Statkraft's strategy to focus on hydropower, solar, wind, and battery solutions while divesting from biofuel technologies.

Silva Biofuel AS, led by CEO Joakim Sværen, will continue developing hydrothermal liquefaction technology, aiming to attract investment for commercial-scale facilities. The initiative is expected to gain international attention as a viable low-carbon fuel alternative for hard-to-abate sectors. The transfer is subject to regulatory approval.