Research and development supporting business
The purpose of Fortum’s research and development (R&D) is to improve the company’s competitiveness and to create a basis for new, profitable business.
Research and development helps Fortum to build a sustainable, carbon dioxide-free future.
The main areas of R&D are:
- The advanced technologies included in Fortum’s existing energy system: our most important research area is nuclear power. Additionally, we are developing integrated combined heat and power systems, i.e. CHP+ plants, as well as ways to increase and utilise the flexibility of the energy system.
- New technologies and solutions supporting development of the energy system towards the future solar economy: we are developing e.g. solar and wave energy as well as innovative solutions for our customers.
Key R&D projects in 2014 included:
- Fortum, UPM and Valmet’s decision to join forces to develop new technology to produce advanced high-value lignocellulosic fuels, such as transportation fuels or higher-value bio liquids. The project aims to develop catalytic pyrolysis technology for refining bio-oil and to commercialise the solution.
- Fortum and Cleantech Invest Plc’s signing of an agreement on partnership with regard to business development activities, potential future cleantech investments as well as information sharing. The agreement aims to create new business opportunities for Fortum and to accelerate the growth of Cleantech Invest’s portfolio companies.
Fortum’s R&D expenditure in 2014 totalled EUR 41 (2013: 49) million, which corresponded to 0.9% (2013: 0.9%) of sales. A significant share of the R&D expenditure in 2013 targeted the development and commissioning of the world’s
first bio-oil plant integrated with a combined heat and power plant, in Joensuu, Finland. Now Joensuu plant is part of Heat, Electricity Sales and Solutions division and is no longer included in the R&D figures.