We are pleased to present Biojet, a Norwegian company producing a sustainable and renewable alternative to liquid fossil fuels, founded by Lars Frode Askheim.
Biojet wants to replace fossil products in a sustainable and environmentally sound way by converting wood-based residual products into liquid biofuels, produced at suitable geographical areas.
Biojet is one of the 54 selected companies in Cohort 2 within the Renewable Energy Production group.
What’s the biggest industry problem that you’re tackling and how?
The challenge of "our" industry is to reduce (stop) the greenhouse gas emissions from the aviation and long-haul marine sector. For instance, each passenger on a transatlantic A380 flight from Europe to USA stands for around 700 kg of fossil CO2. Last year (2024), approximately 140,000 one-way flights crossed the Atlantic sea, representing 30 million tons of CO2. With a quota price of 80 EUR/ton CO2, the "penalty" equals 2.5 billon EUR.
The impact can be reduced either by stopping flying (not relevant) or substituting fossil fuel with renewable alternatives without fossil carbon.
What keeps you awake at night about your startup?
The CO2 content in the atmosphere is continuously increasing. Global warming is a consequence thereof. We need action - NOW!
Biojet can easily be part of the solution. Biojet knows how to utilise renewable material into sustainable aviation fuel - SAF. Two nightmares are: 1) the increasing global temperature and 2) the challenge to find co-investors to fund Biojet so we mutually can serve the aviation and marine industry with renewable alternative fuels without any adjustments to the logistic chains or the engines used.
In your wildest dreams, what would success look like for your company?
Together with partners from the traditional "fossil world" we aim to provide sustainable and renewable transportation fuels to the "hard-to-abate" transportation sectors so they can reduce their carbon footprint. Biojet will further expand its activities to all continents and create multiple production facilities based on the principles.
To support our growing network and its startups, we invite potential stakeholders (investors, lead customers, mentors, and supporting partners) to apply here.
This project has received funding from the European Union under grant agreement Nº101121100. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or the European Innovation Council and SMEs Executive Agency (EISMEA). Neither the European Union nor the granting authority can be held responsible for them.