Neova Oy corrects false claims about peat production in the Swedish media

In the Swedish media and especially in various social media channels, there are constantly incorrect claims about the peat production of the Finnish company Neova Oy and its Swedish subsidiary Neova AB. It is wrongly said that peat production has been banned or stopped in Finland and that is why Neova Oy has moved peat production to Sweden. The information is completely incorrect. In addition, it is falsely reported that Neova would have received support from the EU’s JTF fund to reduce peat production.

In 2023, Neova Oy produced more than 5 million cubic meters of peat in Finland and less than 1.5 million cubic meters in Sweden. This year’s planned production volumes are at the same level.

Another incorrect claim is that Neova Oy has paid its owners (State of Finland and Suomen Energiavarat Oy) hundreds of millions in dividends, the money for which was obtained from peat production in Sweden. Neova Oy paid a total of 310 million euros in dividends for the years 2021 and 2022. The extra dividend was based on the capital gain that Neova Oy received after selling its wholly-owned heating and electricity business company Nevel Oy to a French private equity investor in 2019. The Finnish government owns 50.1 percent of Neova Oy.

More information:
Markus Tykkyläinen, Vice President Neova Oy, +358 50 596 5482
Ahti Martikainen, Director, Communications and Public Affairs, Neova Oy, +358 40 680 4723