Invest in a clean future

The war in Ukraine has highlighted the need for energy self-sufficiency, particularly in Europe. In addition, emission reduction
targets, the higher prices of emission allowances and incentives to increase the use of renewable energy have improved the competitiveness of solar heat. 

Meriaura Group’s Renewable Energy business focuses on segments with high growth potential. These include solar district heating (SDH) and systems for generating heat for industrial processes (solar heat for industrial processes, SHIP), as well as solar power parks and renewable energy solutions for buildings. In terms of solar heat, Meriaura Group has strong references and a good market position, especially in France, Germany and Poland, where the demand for solar thermal solutions is expected to grow rapidly.
Rasol Oy offers solar power solutions in Finland for single-family homes, limited liability housing companies, farms, and commercial and industrial properties. 

A significant increase in demand can be seen in large solar thermal systems, the main market for the Renewable Energy business. In January 2024, the installed capacity of solar heat used for the production of district heating in Germany was around 112 MW,
and the size of projects under construction and preparation was around 356 MW (source: EurObserER 2024). The significance of solar heat in the production of heat for industrial processes continues to grow. At the end of 2023, the global installed capacity was 837 MW (source: Solarthermalworld 2024). At the end of June 2024, the value of active sales identified by the company for the coming
few years was around EUR 299 (197) million, of which projects in the planning and tendering phase accounted for around EUR 61 (39) million.

The market for energy solutions for buildings is expected to grow significantly across the EU. The EU Energy Efficiency Directive requires the use of solar energy in all new buildings if its use is technically and economically feasible. In practice, this means the installation of solar panels or collectors in all new single-family homes by 2029. Public buildings larger than 250 square metres must have solar panels installed by 2030, and smaller new public buildings by 2026.

-Meriaura Group´s Half-year report on 22 August 2024 

Meriaura’s vessels are involved in the tramp trade in Europe, mainly in the Baltic Sea and the North Sea. Meriaura specialises in
the maritime transport of industrial products and raw materials (bulk cargo) and the transport of demanding project cargo. Around 2/3 of Meriaura’s revenue comes from bulk cargo, and around 1/2 comes from cargo and project shipments requiring special expertise.

The demand for maritime transport is affected by general economic development, and the industry has historically been rather volatile. Geopolitical events can also have significant impacts on the marine transport market.

Bulk cargo is a competitive sector where the market participants range from large multinational companies to small regional operators. Meriaura’s contracts mainly consist of the transport of commodities that are not particularly sensitive to business cycles, such as fertilisers, grain, feed raw materials, renewable energy raw materials and minerals. The bulk business is largely based on annual contracts. Around 2/3 of Meriaura´s bulk transport volume and revenue come from contract customers. In the spot market, fluctuations in demand and supply are reflected more rapidly in freight prices.  A significant proportion of Meriaura’s contract transport consists of cargo flows whose year-round transport requires ice-class equipment. 

Recycled biofuels

Biofuels are generally regarded as a cost-effective and environmentally friendly alternative to oil and other fossil fuels. Most recycled biofuels are used as transport fuels, but they can also be used for heating and electricity production. The use of biofuels is expected to increase as their prices decrease as a result of research and development and their supply is commercialised. The growth is supported not only by emission targets, but also by their Finnish origin, which reduces dependence on imported oil. Various regulations and tax incentives to support the use of biofuels are also expected to increase the demand for biofuels in the transport
sector around the world. Currently, the most significant challenge in increasing the use of biofuels is the availability of suitable raw materials. 

-Meriaura Group´s Half-year report on 22 August 2024