10 May, 2021
EQT Private Equity sells StormGeo to Alfa Laval
Alfa Laval, a industrial group, has acquired the weather service Stormgeo, from EQT for SEK 3.7 billion. Stormgeo will be part of Alfa Laval's marine division.
Stormgeo's analysis services are used by several weather-sensitive businesses such as the marine industry, oil and gas, renewable energy and the aviation industry. The services help protect people, assets and operations, and help customers achieve their sustainability goals and reduce emissions. Since 2018, StormGeo's solutions have helped reduce more than 2.0 million tonnes of fuel and 6.1 million tonnes of CO2. The head office is located in Bergen, Norway and employs 515 people in 15 different countries.
Alfa Laval's President and CEO, Tom Erixon said “A few weeks ago we got to see how shipping is affected and the enormous costs when a ship runs aground in the Suez Canal. Similar events occur more often than expected on a smaller scale due to weather conditions and this can have a major impact on costs and even carbon dioxide emissions. (Dagens Nyheter, press release)
Norwegian government to propose a wind power tax
In the revised national budget due to be presented tomorrow, Norway’s government will propose that all wind power plants pay a production fee to the host municipalities for each kilowatt hour they produce. Norway’s Minister of Petroleum and Energy Tina Bru commented “We propose a moderate fee that will ensure that some of the value creation is left locally.” (Energiteknik)
Norway’s Yara targets $23/tonne for agriculture-based VERs in new global alliance
Yara, a fertiliser company, launched a new business, called Agoro Carbon Alliance, aimed at generating voluntary emissions reductions (VERs) from farmlands worldwide at upwards of $20 per tonne. Agoro Carbon will support farmers with the agronomical expertise and practical support to successfully sequester carbon in the soil and reduce emissions from the field. This will in turn generate high-quality, third-party certified carbon credits and increase farmers’ income. (press release)
About Mundus 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 clip the stories of most relevance to international businesspeople and policy experts from the flow of news. We supplement these with our own opinion pieces and commentary, in English.