13 May 2022

Sweden’s EPA awards SEK 2.3 billion in climate support for projects that did not materialise

Since the start of Sweden’s Klimatklivet (Climate Step) program in 2015, the Swedish Environmental Protection Agency has granted support to 5,108 climate initiatives from Swedish companies and organisations, worth a total of SEK 11.3 billion. But just over a tenth of the projects, which together were granted SEK 2.3 billion, or approximately 20% of the total capital granted, never materialised. Among the twelve applications for a maximum amount, eight were linked to biogas plants. At the very top was an investment from Scandinavian Biogas, which did not use the SEK 154 million that the company was granted. “It is linked to the market situation for biogas. In recent years, it has been an uncertain situation. The entire industry has been waiting for the state to put its foot down and give a direction for what biogas production should look like,” says Michael Wallis Olausson, who is responsible for the group's growth project.

DI

Quantafuel reports operating loss

The plastic recycling company Quantafuel made an operating loss of NOK 66 million on revenues of NOK 10.2 million compared to minus NOK 34 million in the same quarter last year. Quantafuel says that its cash position of NOK 577 million at the end of the first quarter, puts it in a position to complete its investment program.

DN

What we’re reading

• EU warns of €195bn cost to free bloc from Russian energy (Financial Times)