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Vetyalfa Oy, part of the reconcept group, secured €150 million from Business Finland for a green hydrogen refinery in Utajärvi, Northern Ostrobothnia. The project aims for an annual production capacity of up to 180,000 tons of hydrogen by 2024, supporting Finland's goal to produce 10% of the EU's green hydrogen by 2030.

The refinery will also process products like e-methane, e-methanol, ammonia, and sustainable aviation fuel, contributing to an integrated hydrogen value chain. Finland aims to strengthen its renewable energy industry, with hydrogen playing a key role in the EU's decarbonization strategy, targeting 10 million tons of hydrogen production by 2030.