Research and development
Sustainability is at the core of Fortum’s strategy, and Fortum's research and development activities promote environmentally-benign energy solutions. Investments in the development of renewable energy production, like wave and solar power, are an important part of Fortum’s strategy implementation.
In 2013, Fortum decided to participate in the Sustainable Bioenergy Solutions for Tomorrow (BEST) research
programme established by two Strategic Centres for Science, Technology and Innovation (SHOK), CLEEN Oy and FIBIC Oy, in Finland and India. The programme's goal is to encompass a completely new kind of collaboration between forestry and energy know-how.
Fortum is also a co-signer along with DCNS and AW-Energy of a development agreement in wave power research and development with the support of La Région Bretagne. As part of the agreement, the companies will develop a joint 1.5-MW wave power demonstration project. Fortum will be responsible for project development and will be the owner of the demonstration park. The agreement is an extension to the wave power research and development collaboration initiated in 2011 by DCNS and Fortum.
In addition, Fortum received a special award for innovation from the Global District Energy Climate Awards organisation. The prize was awarded to Fortum for its investment project
using fast pyrolysis technology to produce bio-oil in connection with existing district heating production and a combined heat and power plant. Commissioned at the end of the year, the commercial plant is the first of its kind in the world and integrated with Fortum’s Joensuu CHP plant. The use of bio-oil has significant positive environmental impacts because energy produced with bio-oil reduces greenhouse gas emissions by as much as 90% or more compared to fossil fuels.
Fortum acquired a solar power plant in the state of Rajasthan, in north-western India. The company's short-term ambition is to build a small photo-voltaic (PV) solar portfolio in order to gain further experience in different solar technologies.
The Group reports its R&D expenditure on a yearly basis. In 2013, Fortum’s R&D expenditure was EUR 49 million (2012: 41) or 0.8% (2012: 0.7%) of sales.
|R&D expenditure, EUR million||49||41||38|
|R&D expenditure, % of sales||0.8||0.7||0.6|