NEWSLETTER Q1 2026

Achieving price parity with conventional SAF is a central objective in the development and scaling of the eSAF market and its value chains. At Liquid Sun, we are focused on solving this challenge. By combining advanced electrolysis technology, intelligent electricity optimization, and integrated system design, we are building the foundation for industrial-scale eSAF production.

Liquid Sun’s latest developments in Q1 mark a significant step toward overcoming this barrier. With a new generation of electrolyzer stack design, major cost reductions in core components, and compatibility with existing energy infrastructure, we are accelerating the transition from pilot to mass production. At the same time, electricity pricing, CO₂ markets, and regulatory frameworks are becoming key determinants of eSAF economics. By designing systems that dynamically respond to these external factors, we are unlocking new pathways to efficiency and long-term viability.

Our work is already gaining international recognition, and we continue to collaborate with leading industrial and aviation partners to accelerate deployment. As we move toward pre-commercial and industrial-scale production, our focus remains clear: to enable a cost-efficient, scalable, and decentralized solution for decarbonizing aviation.

LIQUID SUN’S NEW ELECTROLYZER DESIGN MOVES eSAF TOWARD PRICE PARITY.

Liquid Sun has developed a new Gen2 CO₂-LTE stack design that serves as the core building block for scalable eSAF production. The design builds on existing PEM electrolyzer manufacturing infrastructure and form factors, making it directly compatible with established supply chains and production methods. This significantly reduces both scale-up risk and required capital investment.

At the heart of the new design are hollow embossed bipolar plates, replacing the machined components used in the pilot. This change alone reduces stack production costs by up to 90%.

Combined with a major reduction in MEA costs, Liquid Sun’s eSAF process is now on track to reach commercially viable cost levels by 2030. As production scales, further cost reductions are expected, bringing eSAF closer to price parity with conventional SAF. Mass production of MEAs is targeted to cut costs up 90% from current levels.

Contact our CEO, Dr. Pasi Keinänen, to learn more about the electrolyzer development. pasi@liquidsun.co

THIS IS HOW DATA DRIVES OUR eSAF PRODUCTION OPTIMIZATION WITH ELECTRICITY AND EU ETS PRICES. 

From 2030 onwards, EU regulation will require eSAF producers to match electricity consumption with renewable generation on an hourly basis. In addition, the EU has defined threshold values for electricity used in eSAF production: below €20/MWh or below 0.36x the EU ETS carbon price per tonne of CO₂.

To operate efficiently within these constraints, Liquid Sun is developing an optimization algorithm that automatically adjusts plant operations based on day-ahead electricity prices and EU ETS data.

The CO₂-LTE process is inherently dynamic, allowing rapid start–stop cycles. This makes it well suited to handling the intermittency of renewable energy. Since most of the energy in eSAF production is consumed by electrolyzers, the plant is designed with oversized LTE capacity and gas storage. This allows production to continue using stored intermediates even when temporal correlation criteria are not met.

Unlike fossil jet fuel or conventional SAF – both derived from energy-rich feedstocks such as crude oil, waste, or fats – eSAF stores energy originating from electricity. As a result, electricity pricing has a dominant impact on production costs. For example, reducing electricity prices from €50 to €20/MWh can lower eSAF production costs by up to threefold.

Contact our CEO, Dr. Pasi Keinänen, to learn more about the optimization algorithm development. pasi@liquidsun.co

LIQUID SUN WINS “BEST SUSTAINABLE INITIATIVE” AT SUPER TERMINAL EXPO 2025. 

Liquid Sun has been awarded the Best Sustainable Initiative – Vendor Award at Super Terminal Expo 2025 in Hong Kong, recognizing its leadership in scaling next-generation sustainable aviation fuel (eSAF).

At the core of this recognition is Liquid Sun’s Low-Temperature Electrolysis (LTE) technology and its pilot plant in Espoo, Finland, the world’s first to convert biogenic CO₂ into eSAF through an end-to-end production process. The solution enables up to 90% emissions reduction while remaining fully compatible with existing aviation infrastructure.

Designed to meet global standards, including EU RED II, CORSIA, and ASTM D7566, Liquid Sun’s platform combines technological innovation with regulatory readiness—positioning the company for rapid scale-up and market adoption.

With an estimated €2.6 billion economic impact in Finland by 2040, Liquid Sun is not only decarbonizing aviation but also creating a scalable industrial value chain and compelling investment opportunity in the global transition to sustainable fuels.

TAKING A STEP TOWARD FINLAND’S FIRST PRE-COMMERCIAL eSAF PLANT.

We are taking a key step toward scaling eSAF production with plans for Finland’s first pre-commercial facility in Lempäälä, Finland. The plant marks the transition from pilot to industrial scale and lays the groundwork for full commercial production before the end of the decade.

Integrated with the Lempäälä–Vesilahti biogas plant, the facility will use captured biogenic CO₂ to produce approximately 200,000 kg of eSAF annually. This setup enables efficient carbon utilization while demonstrating a fully integrated, end-to-end production chain.

Following the successful industrial pilot in Espoo, delivered with partners including Finnair, Fortum, ABB, and Finavia, the Lempäälä project represents the next step in scaling the technology. Its modular design allows for replication and decentralized production, positioning Liquid Sun to respond to growing demand driven by EU regulations such as ReFuelEU Aviation and RED III.

With construction underway and operations targeted for 2027, Liquid Sun aims to reach industrial-scale production of 5,000 tonnes annually before 2030, helping to close the gap between increasing demand and limited supply of synthetic aviation fuels.

BUILDING THE BACKBONE: eSAF SUPPLY CHAIN MANAGEMENT AND COMPLIANCE.

Liquid Sun has partnered with Finnish IT consultancy Pinja to tackle one of the most critical and often underestimated challenges in eSAF production: regulatory compliance under EU RED. Together, we are developing systems for full traceability, verification, and reporting across the entire production chain, ensuring that eSAF meets the requirements of ReFuelEU Aviation.

Pinja’s Energy Operations platform is already used in bioenergy and thermal energy sectors, but eSAF introduces additional complexity. All inputs, biogenic CO₂, hydrogen, and renewable electricity, must be tracked and verified at batch level using a mass-balance approach. Without this level of transparency, certification, and therefore market access, is not possible.

By integrating compliance systems at the plant design stage, Liquid Sun can avoid costly retrofits later, reduce regulatory risk, and accelerate time-to-market. The collaboration also creates long-term value for both parties: Liquid Sun gains operational insight alongside a trusted Finnish partner, while Pinja expands its platform into a rapidly growing new sector.

We hope you found this newsletter informative and insightful. If you would like to jump on a call to discuss any of these topics in greater detail, please let us know.