From investment decision to implementation
On 30 September 2026, Öresundskraft’s Board of Directors approved the Final Investment Decision (FID) for INNOZHERO, marking the transition from project development to implementation. The decision follows years of progress, starting from getting awarded a € 54.1 million grant from the Innovation Fund under the IF23 net-zero technologies call, to finding secure financing and establishing the international arrangements needed to transport and permanently store the captured carbon dioxide (CO₂).
INNOZHERO is also the first carbon capture and storage (CCS) project at a waste incineration facility in the EU to reach this investment milestone. With construction expected to start towards the end of 2026, the project will demonstrate how carbon capture can be integrated into existing waste-to-energy infrastructure. It also will help establish the transport and storage infrastructure needed for CCS to scale across the Nordics.
The Swedish Energy Agency also played a pivotal role in enabling the project to reach its FID, initially providing approximately €19.8 million in support, followed by a further approximately €3.0 million. Combined with the €54.1 million grant from the Innovation Fund, this public financing established the financial basis required to advance the project.
By supporting innovative projects with viable business cases, the Innovation Fund helps bridge the gap between technological innovation and commercial deployment. Its support also helped strengthen the project’s financial credibility and demonstrate its technical and commercial potential, contributing to the confidence needed to move towards implementation. This project illustrates the emerging business case for CCS, demonstrating its potential to become a commercially viable solution for industrial decarbonisation and a model for similar facilities elsewhere.
Turning waste into energy while capturing carbon
Every year, the Filbornaverket plant in Helsingborg processes around 220,000 tonnes of non-recyclable waste, converting it into electricity and district heating for the local community.
However, burning waste also produces CO₂, contributing to climate change. This is the challenge that the INNOZHERO project, led by Swedish energy company Öresundskraft, aims to address. Its solution is to install a large-scale carbon capture and conditioning facility at the existing plant. Instead of releasing CO₂ into the atmosphere, the technology will capture it so that it can be transported and stored permanently underground.
The project will capture approximately 200,000 tonnes of CO₂ annually, including both fossil and biogenic emissions. Biogenic CO₂ comes from organic materials such as food waste and paper. When this CO2 is captured and permanently stored, the project can deliver negative emissions and generate carbon removals. Over its first ten years of operation, INNOZHERO is expected to prevent nearly 1.9 million tonnes of greenhouse gas emissions from reaching the atmosphere. This is equivalent to the CO₂ emissions from driving an average fossil-fuelled passenger car for a total distance of around 17.8 billion kilometres over the same ten-year period1.
Supporting Europe’s transition to climate neutrality
INNOZHERO goes beyond reducing emissions from a single industrial facility. By developing an integrated solution for capturing, transporting and storing CO₂, it also contributes to building the infrastructure needed for carbon capture and storage to expand across Europe.
For Helsingborg, the investment is expected to deliver significant local climate benefits, including climate-neutral district heating and waste incineration, while creating the potential for negative emissions and strengthening local expertise in carbon capture technology.
Learn more about the project and the Innovation Fund
