Copenhagen-based Kvasir Technologies raises €10 million to scale climate-neutral marine biofuel
Copenhagen-based Kvasir Technologies raises €10 million to scale climate-neutral marine biofuel
Publish Date: 2026-06-18 04:47:00
Source Domain: www.eu-startups.com
Kvasir Technologies, a Copenhagen-based biofuel startup, has raised €10 million in a Series A investment round to accelerate the scale-up and commercialisation of its climate-neutral marine fuel.
European Energy participated in this round as a new investor, alongside existing investors EIFO, Mærsk Growth and Footprint Fund. At the same time, the Danish startup has entered into a strategic partnership with European Energy by establishing the company KVEEN Biofuels, which is working towards the construction of a commercial-scale plant to produce biofuels using Kvasir Technologies’ patented technology.
“This investment round enables us to take the next crucial steps in developing and scaling our technology. At the same time, it underlines that there is still strong support for solutions that can deliver real climate impact in the maritime sector,” said Joachim Bachmann Nielsen, CEO of Kvasir Technologies.
Kvasir Technologies, a spin-out from DTU – Technical University of Denmark, was founded in 2018 by COO Anders Bak Kristoffersen and CEO Joachim Bachmann Nielsen. Nielsen, who has a PhD in Chemical Engineering, developed the company’s core technology.
Kvasir Technologies is a Danish CleanTech company specialising in climate-neutral biofuel production. It has developed a new technology to convert a wide range of non-edible lignin-based residues from agriculture and forestry into refined biofuels for shipping.
The company claims that the climate-neutral biofuel can serve as an immediate replacement for fossil marine fuel without the need to modify ship engines or change existing infrastructure.
Its single-step biofuel conversion process is called solvothermal liquefaction. The startup states that it is the only process that can fully convert lignocellulosic biomass, which is the earth’s most abundantly available biomass waste material, to produce next-generation marine biofuel.
“Our process is among the most efficient in liquefying solid biomass….
