Mundus Nordic Green News – 9 March, 2021

Norway provides NOK 1 billion to fund green innovation

Siva, a Norwegian state-owned enterprise that develops, owns and finances a national infrastructure for innovation and business development has announced the Green Platform, as a new initiative to provide the business community and research institutes with funding for research and innovation-driven green transformation. A NOK 1 billion call is made to offer public funding for large comprehensive projects within green conversion, that need a total public grant of more than NOK 50 million. Projects should describe the entire process from research, technology development to business development, and link different phases from knowledge production to implementation, commercialization and scaling of green technologies, processes, products and services. The sub-goal of the call is to contribute to green change by:

• developing technologies, processes, products and services, which are part of holistic and green value chains
• improving the environment in relation to current solutions, without giving negative consequences for the climate and the environment
• increasing the pace of change, competitiveness and value creation in the business sector
• increasing private investment in green conversion

 

Einride refinances. Is a SPAC-listing in progress?

Einride, which has developed a self-driving, electric truck called the T-pod, is raising $75 million in a new financing round at the same time as the company is evaluating a possible stock market debut through a merger with an acquisition (SPAC) company. The company has previously been backed by EQT Ventures, NordicNinja VC, Ericsson Ventures and Norrsken Foundation, among others.

Separately, Einride has recently entered into partnerships with Lidl and Electrolux. And Oatly has been using Einride's trucks in delivery routes from the production facility from October 2020.

 

Sweden’s fuel reduction obligation comes in for heavy criticism

With Sweden attempting to reduce GHG emissions by 70%, the Government's proposal to phase in biofuels has been criticized for creating a lack of long-term perspective, unclear climate benefits and unnecessarily high costs for both car drivers and society, according to researchers. For Swedish policy settings it is even more concerning that both the Government and Swedish Transport Administration (Trafikverket) have conceded that the current policy is based on incorrect assumptions and faces major risks. (see our blog for more)

 

Uniper invests into Liquid Wind

The German/Finnish power giant, Uniper is to become the second biggest investor in Swedish startup, Liquid Wind, which is attempting to develop electrofuels made from carbon dioxide and hydrogen. According to Claes Fredriksson, CEO of Liquid Wind “In a first step, we have far-reaching plans to build Sweden's, and one of the world's first facilities, for renewable electric fuels in Örnsköldsvik. We have a collaboration with the energy company Övik Energi to collect their biogenic carbon dioxide emissions and in a new plant produce 50,000 tonnes of e-methanol annually.” The facility, which is estimated to cost SEK 1.5 billion, is scheduled to be completed in 2024, provided that, among other things, the permit application and financing go according to plan. Fredriksson continued, "We see a great deal of interest among both potential customers and financiers and plan to build up to 10 similar facilities in Sweden alone over the next ten years,"

 

Swedish “test bed” for electronic mobility to be constructed

Swedish state-owned research institute, Rise, together with Volvo, Scania and Chalmers will construct three testing facilities for electrical technology in transport. The project which goes under the name Swedish Electric Transport Laboratory (Seel) will cost SEK 1.3 billion to develop and is intended to be a “test bed for electric mobility.” “This will be an important tool for the Swedish automotive industry to lead the global development towards increased sustainability,” said the Minister for Enterprise, Industry and Innovation, Ibrahim Baylan (S). The largest of the three facilities is being built near Gothenburg, and is intended to meet the needs of developers of heavy and light vehicles, trucks and buses, construction machinery, aircraft and ships. The facilities will also be available to other companies and are intended to function as a so-called "open platforms" where business, researchers, and students can meet.

 

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