2022-02-21 18:15News

21 February 2022

Mundus Nordic Green News

Volta Trucks confirms EUR 230 million of Series C funding

The Swedish company, Volta Trucks has raised EUR 230 million in a Series C funding round. The funding will help Volta Trucks proceed with its engineering and business operations while it is becoming a manufacturer of full-electric trucks. The company's first series production of the 16-tonne full-electric Volta Zero is planned to be completed by the end of 2022. 

Arctic Startup

Azelio faces delays and concerns its product may fail in market

Documents from the Swedish Energy Authority show that one of Azelio’s projects, which was to secure the warehouse’s heating function in Sweden, did not follow the schedule. At the same time, a major project in Mexico was cancelled. According to Azelio, the project in Sweden will still be completed on time and is not declared to be delayed. The company also claimed that the cancelled project in Mexico does not affect the company significantly. Azelio has previously stated that they have received qualified inquiries corresponding to approximately SEK 170 billion in potential order value and declarations of intent with defined projects of approximately 10% of this. However, experts at DI recently announced that they are unsure about whether there will be a large demand for Azelio’s storage solutions. 

The business world

Hexagon enters into a partnership with H2U for green hydrogen

The measurement technology company, Hexagon has entered into a partnership with Australia's The Hydrogen Utility to digitize the expansion of green hydrogen. The partnership brings together Hexagon’s deep expertise in integrating industrial facility digital ecosystems with H2U’s green hydrogen and ammonia proprietary plant designs. “We’re proud to partner with H2U to create a meaningful impact in the world's energy transformation with the move to cost-effective green hydrogen production. Our solutions will provide a common environment to manage seamless and effective collaboration across H2Us technology partner ecosystem”, said Hexagon President and CEO Ola Rollén. 


GIAB Nordic receives Nasdaq Green Equity Designation

GIAB Nordic is one of the first companies in Sweden to apply for and receive the designation Nasdaq Green Equity Designation. GIAB's core business is to develop, implement and commercialise business models based on a circular economy. The business concept is to increase the economic value of goods, products and components - mainly through recycling.

Christian Jansson, CEO of GIAB Nordic AB commented that “Nasdaq’s Green Equity Designation creates transparency for our investors and other stakeholders. That as much as 96% of our sales can be considered dark green and thus an activity necessary to reduce climate emissions is something we have known about since the company’s start. Now we have it in black and white that this is also the case. We are part of the solution to the climate crisis and through large-scale recycling we contribute to reduced resource utilisation and reduce our customers’ climate emissions. The labelling and assessment from the approved auditor Cicero gives a strong credibility to the sustainability value that we with our business are creating”. 


Enova strengthens its investment in maritime sector technology

Enova’s new technology program will support projects that use new energy and climate technology in maritime transport. The program is scheduled to be launched during March/April 2022. 

“Ships that use environmentally friendly fuels and use new technology are necessary to achieve the goals. This is why we at Enova in recent years have had high activity within early market introduction of battery-electric solutions and associated infrastructure for maritime transport”, said Gunnel Fottland, marketing manager for transport at Enova. “This program will provide the applicant with a more robust basis for later being able to apply for investment support on the program ‘Full scale innovative energy and climate technology”, Fottland continued. 

Press release

Swedish electricity prices continue to fall

Electricity prices have continued to fall from December’s high levels. In recent weeks, the price has been at an average of SEK 0.85 per kWh, compared with SEK 1.0 in January and SEK 1.50 in December. According to Bixia’s electricity price report, a mild winter and an increase in wind power put into operation are the main reasons for the lower electricity prices. 

Energy news

Sweden presents its first action plan for plastics

The Government has decided on Sweden’s first action plan for plastics - a powerful action program with 55 measures to reduce the impact of plastics on the climate and environment. Among the action plan’s measures, there is a requirement that all major actors must offer a reusable mug or lunch box when selling food and drinks, as well as a ban on disposable mugs that contain more than 15% plastic. In addition, the Swedish Environmental Protection Agency must map and analyse the use of plastic in Sweden and submit proposals for the type of plastic to be used in the right place in a circular and fossil-free economy. 

Press release

What we’re reading
  • Climate Diplomacy: Council calls for accelerating the implementation of the Glasgow COP26 outcomes (Press Release)
  • Cannon-Brookes leads green bid for AGL, to fast-track coal closures (RenewEconomy)
  • Cannon-Brookes’ unstoppable billions pierce the bubble of fossil fuel denial (RenewEconomy)

About Nordic Green News

The Nordic countries are some of the most dynamic and successful economies in the world. They are also leaders in sustainability, from renewable energy, biofuels, carbon capture and storage and the hydrogen economy, circular economy business models and battery development, the Nordics are pioneers in policy design, technology development and consumer uptake. Mundus Nordic Green News is covering this transition for the international community. Every day we curate the stories of most relevance to international businesspeople and policy experts from the flow of news. Mundus Nordic Green Indices summarise the meta-data from our daily coverage to enable easy tracking of trends. We supplement these with our own opinion pieces and commentary.