Mundus Nordic Green News – 1 October, 2020

 

How to make sense of Swedish biofuels decisions?

The future of biofuels in Sweden has the potential to determine whether there is a sustainable global biofuel industry, especially when it comes to alternatives to fossil diesel. September saw a flurry of decisions. Individually these make little sense, but cumulatively a story begins to emerge. Read our blog.

 

Almi Invest invests SEK 10 million in greentech Spowdi

Sweden’s state-owned Almi Invest is investing SEK 10 million in Spowdi, a company focused on developing solar-powered water distribution systems for small-scale farming. Almi will invest SEK 10 million through its Greentech fund in an issue worth a total of SEK 20 million. SEB's former CEO Lars Thunell will also be participating in the issue. The first version of Spowdi's water pump is aimed at equatorial countries, with the central market being India, where fields are irrigated manually or with diesel pumps.

 

Borealis receives EIB loan for circular economy solutions for plastics

The European Investment Bank (EIB) and Borealis have agreed a financing agreement that supports the Borealis research, development and innovation programme in the circular economy. The EIB will provide a EUR 250 million loan supporting Borealis’ multi-year investment program in plastics circularity, which will enable Borealis to intensify work at its Innovation Centres in Austria, Sweden and Finland.

 

Statkraft proposes differential contracts for hydrogen

Norway’s state-owned electricity producer, Statkraft, Mo Industrial Park and the steel producer Celsa have written to Tony Christian Tiller, State Secretary at the Norwegian Ministry of Petroleum and Energy, arguing for the introduction of contracts for difference for hydrogen to support industry economics.

 

Soltech Energy accelerates acquisitions after fundraising

On September 10, Soltech Energy announced the result of its rights issue, which was oversubscribed by nearly 600%. As a result of the large interest, an additional 3.84 million shares were issued, with the company further strengthening its financial position with SEK 144 million. Soltech describes itself as being in an explosive growth phase with a strong focus on acquisitions, something that will probably be accelerated as a result of this issue. Even before the results Soltech announced that another acquisition had been completed, with Soltech acquiring 60% of Miljö & Energi Ansvar Sverige AB (MEASOL). On September 28, Soltech announced that two more acquisitions have been made, with Soltech Energy signing an agreement for 80% of the shares in Takrekond in Småland AB and 100% of Takrekond in Kalmar AB.

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