Finland Moonshots | Decarbonization Technology and Services

Decarbonization Technology and Services

VISION: Finland as the forerunner in providing smart technology solutions for high-emitting industrial processes, such as electrification and decarbonization-as-a-service

  • Decarbonization technology: Become the leading provider of decarbonization technology, such as efficient, smart motors and drives that improve energy efficiency, and smart electrification technology that replaces fossil fuels and reduces CO2 emissions in heat-intensive manufacturing (e.g., steel)
  • Decarbonization solutions and services: Be a forerunner in decarbonization-as-a-service, such as energy system optimization (e.g., energy management and demand response systems), smart lifecycle solutions (to decarbonize existing process operations), or design sustainable industrial processes and plant retrofits (e.g., oil refineries to produce renewable fuels)

“Finland already has a strong multibillion-euro industrial machinery sector but there is still significant growth potential—the green transition is a natural growth opportunity for Finland.”
—Jukka Leskelä, Managing Director, Finnish Energy


    Industrials account for ~18% of global GHG emissions, a majority of which are process related. With a >€2 trillion industrial machinery market that needs to decarbonize, the export potential of decarbonization technology and services is between €30 billion and €32 billion by 2035 based on Finland’s current exports and projected market growth for the green solutions. The green alternatives will grow at a projected 8%-15% CAGR until 2035 (vs. conventional only 3%-6%). Both decarbonization technology and services have a significant carbon handprint. As an example, electrified cracking and polymerization technology in plastic production has an estimated handprint of 1.3 kg CO2 per kg of plastic, reducing the emissions from plastic production by more than 30%.


    Finland has an established industrial machinery sector that represents a significant share of its exports (~30% of total exports) and leans on strong engineering, process efficiency, and digitalization capabilities.


    Brings together established machinery players and emerging players with pioneering green technology solutions, taking the existing Finnish machinery industry to the next level through decarbonization.


    1. Provide coordinated support (R&D and investment funding) for first movers in scaling emerging technologies and capabilities – e.g, around process machinery electrification, sustainable process heat, smart lifecycle solutions, and energy optimization
    2. Accelerate domestic demand for decarbonization technology and services through regulation and subsidies, enabling Finnish companies to pilot technologies and services domestically
    3. Mobilize technology partnerships across industrial sectors to enable new holistic decarbonization-as-a-service business model

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    Photo by Coolbrook, RotoDynamic Technology, 2022