Global Courant
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Bård Bjerkholt writes in DN on October 20 that Industry Minister Jan Christian Vestre (Ap) has sent billions to Nysnø, which passes the money on to the venture industry (the comment “You may wonder what the point is”). One may get the impression that the money is being forwarded without purpose or meaning.
The capital contributes to reducing greenhouse gas emissions, developing new growth companies and creating long-term income for the state.
It is true that the premise for founding Nysnø was to contribute capital to Norwegian green companies and thereby contribute to the reduction of greenhouse gas emissions, while at the same time generating the highest possible returns. We always invest together with private investors and under the same conditions as them.
Only a third of the technology we need to achieve climate goals by 2050 is available today. The pace of innovation and scaling up of climate technology must increase – and capital must be made available. We believe that the right way to achieve both a climate impact and a good return is to use the mandate given to the company to invest both directly in companies and indirectly in companies through funds.
Bjerkholt forgets to mention that Nysnø has invested directly in 19 Norwegian companies over the past five years. Some examples are Otovo, ZEG, Cenate, Morrow Batteries, Heaten, Greenbird and Amina.
In addition, we have indirectly invested in almost 60 Norwegian companies through our fund investments. We place high demands on fund managers, who must demonstrate a Norwegian connection in order to invest.
The article continues below the advertisementOur fund investments have helped some of the world’s leading venture and growth players in climate investing make their first Norwegian investments and establish offices in Norway. Through the fund investments, we have helped to mobilize a total of more than NOK six billion for Norwegian companies.
Last year, Menon did an analysis of access to capital for Norwegian climate technology. The report concludes that Norway stands out negatively. Norway is the country that attracts the least start-up capital from foreign managers.
Norway is a small country. If Norwegian climate technology companies want to grow, they must conquer international markets. We are an active fund investor and build networks that act as shortcuts to the market. We call them capital bridges. It helps Norwegian companies enter the world and at the same time attracts foreign capital to Norway.
If new green industrial value chains are to be built, major investments are needed. Access to long-term green venture capital in scaling and commercializing climate technology projects will be critical. The launch of the Roadmap for Green Industrial Lift outlined the need for NOK 60 billion in venture capital by 2025 through loans, guarantees and equity. As an investor in government climate technology, it is logical that Nysnø is capitalized as a useful instrument.(Conditions)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases via links that lead directly to our pages. Copying or other use of all or part of the contents may only be made with written permission or as permitted by law. For further conditions see here.
Green fund investments contribute to effective climate mobilization
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