Braathens Renavia Gains Leading Hydrogen Player as Shareholder

Stockholm, Sweden – May 14, 2025 

Qarlbo Energy, owned by Qarlbo AB and FAM, has become a new investor in Braathens Renavia, a Swedish project development company focused on the production of sustainable aviation fuel (SAF). Qarlbo Energy is a leading hydrogen player in Sweden, investing in and partnering with forward-thinking companies aiming to transform the energy sector.

Founded by Per G. Braathen, Braathens Renavia is currently advancing two large-scale projects in Sweden with the goal of producing SAF from the gasification of waste and biomass combined with fossil-free hydrogen.“Aviation faces a decisive decade. If we want passengers to return – and if aviation is to have a future – we must invest in new technology,” says Per G. Braathen, Founder of Braathens Renavia.

“Today, waste and biomass are incinerated, releasing carbon dioxide into the atmosphere. Instead, we can extract the carbon atoms without burning the material and bind them directly with hydrogen from cheap, fossil-free electricity. In doing so, we can produce one of Europe’s most cost-effective sustainable aviation fuels,” Braathen continues.

Qarlbo Energy sees great potential in the approach.“For modes of transport where electrification falls short – such as aviation – the combination of hydrogen and SAF is very promising. We want to invest in solutions that truly accelerate the green transition,” says Michel Thomas, CEO of Qarlbo Energy.

Braathens Renavia remains in an early development phase and works methodically with feasibility studies, site selection, industrial partnerships, and permitting.
“These are facilities that can cost upwards of EUR 1.5 billion to build. Every step must be right: the right site, the right grid connection, access to waste and biomass, efficient logistics, and long-term offtake partners. We take it one step at a time,” says Braathen.
Swedish domestic aviation has set a target to be fully fossil-free by 2030. A single plant of the type Braathens Renavia is planning—with a capacity to produce 100,000 tonnes
of SAF per year—would be enough to replace all fossil aviation fuel used in Swedish domestic flights.
“Ticket prices would rise by 15–20 percent. It’s a challenge, of course – but not unreasonable. And do we really have any alternative?” Braathen concludes.

About Braathens Renavia
Braathens Renavia was founded in 2024 by Per G. Braathen with the purpose of developing and implementing projects for the production of sustainable aviation fuel. The company focuses on innovative solutions to reduce the aviation industry’s carbon emissions through the use of renewable resources.

About Braganza
Braganza AB is a privately owned holding company with roots in Norway, founded in 1938 by Ludvig G. Braathen. Today, it is owned by Per G. Braathen and family and is headquartered in Stockholm. Braganza has historically been active in the transport and tourism sectors and is the majority owner of Braathens Regional Airlines (BRA), which operates several domestic routes in Sweden for SAS.

About Qarlbo Energy
Qarlbo Energy is a global investment company at the forefront of the energy transition, dedicated to enabling and creating tomorrow’s energy systems. Together with its committed and long-term owners, Qarlbo Energy holds a unique position to contribute to sustainable development across generations. The company is owned by the investment firm Qarlbo AB of Conni Jonsson’s family and by Wallenberg-owned FAM.

For media inquiries, please contact:
Eric Matsgård, CEO, Braathens Renavia, eric.matsgard@renavia.com
Michel Thomas, CEO, Qarlbo Energy, michel.thomas@qarlbo.com