2022-02-25 15:31News

25 February 2022

Mundus Nordic Green News

SEK 95 million rights issue by Absolicon after five signed declarations of intent with some of the world's largest multinational companies 

Five of the world's largest multinational companies have announced that they intend to install Absolicon's solar technology and run their industrial processes with solar heating. Most of the pilot installations will be installed as early as 2022. In parallel, Absolicon is approaching sales of production lines. Absolicon is therefore conducting a rights issue of SEK 95 million to become the world's leading company in solar heating for industrial processes, a market of close to 1 trillion dollars by 2050. “The declarations of intent that have been drawn change everything. When these huge multinational companies invest in running their industrial processes with solar heating, the world will not be the same again”, says Joakim Byström, CEO of Absolicon. The five multinationals who have issued the letters of intent are as follows:

  • The world's largest brewery Anhauser-Busch with brands such as Budweiser, Corona, Leffe and Beck's
  • The Danish brewery giant Carlsberg with about 100 breweries
  • Birra Peroni, part of the large Japanese brewery Asahi .
  • Chemical producer Rallis India, a subsidiary of the Tata conglomerate in India.
  • The leading food company Archer Daniels Midland (ADM) .


Northvolt to open factory Borlänge

A closed paper factory in Borlänge will be converted into a battery factory and open in late 2024. According to Northvolt, the new factory, which is called Kvarnsveden and is owned by Stora Enso, will initially produce so-called active cathode material and later also cells for 100 GWh batteries. It will use renewable energy entirely and create 1,000 jobs. “This is the first time we will reuse an entire production facility. We look forward to opening a new chapter in Borlänge's history as a global industrial hub” says Northvolt's founder Peter Carlsson. The old paper mill was closed down last year resulting in 400 employees having to leave.


Vestas and Ørsted shares boosted by concerns over Russian gas supply

The shares of Vestas and Ørsted on Thursday afternoon were up more than 13% in a turbulent global stock market reacting to the Russian invasion of Ukraine. According to Jacob Pedersen, Head of Equity Research at Sydbank, the explanation for the development for Vestas and Ørsted can be found in the fact that investors have sensed future issues, “That we now have to use wind if we are not to have gas from Russia”. Pedersen indicated the energy transition already underway will receive a significant boost as European states plan for a potential significant reduction in Russian gas supply. “If it is to go really fast, then we can get to the point that the states around Europe themselves have to build and own wind turbines to ensure the expansion and electricity supply,” says the Sydbank Share Analysis Manager.

Euroinvestor & NPInvestor

​​Danish energy company and pension fund expand billion dollar collaboration on solar parks

Better Energy and Industriens Pension have expanded their partnership to facilitate up to +300 MW of clean, sustainable energy being built and grid-connected in Poland. This is part of a wider +1GW Polish pipeline Better Energy is developing over the coming years. The Polish expansion comes in the wake of an historic collaboration agreed in 2020 between the Danish pension fund, Industriens Pension, and Better Energy, under which they each own an equal share in more than 1 GW of solar parks developed, built, and operated by Better Energy in Denmark and Poland expected in 2020-2022. The expansion means that the partnership’s financial engagement is likely to exceed EUR 670 million.

Borsen  PV Magazine

Soltech Energy Sweden AB Q42021

The Group's revenues in the quarter amounted to SEK 565.8 (163.3) million. An increase of 247%. Of the revenues, SEK 288 million is due to the special listing of Advanced Soltech Sweden AB (“ASAB”). Excluding this total revenue from operations amounted to 277.8.


Baseload Capital

The result for the fourth quarter was SEK -75.2 million, with revaluation of projects and loans to subsidiaries accounting for SEK -57.2 million. Exchange rate differences as a result of a weaker krona were SEK 5.9 million.


​​What we’re reading
  • Singapore to raise carbon tax fivefold in 2024 (Seneca ESG)
  • Rio Tinto: “technology-led” climate policies not enough to keep global warming within safe levels (RenewEconomy)
  • Limitless power arriving too late: Why fusion won’t help us decarbonise (RenewEconomy)
  • Wind power companies bid more than $3bn for ocean blocks off New York (Financial Times)
  • German gas supply secure even if Russia cuts off deliveries – economy minister (Clean Energy Wire)

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.