We are excited to announce that the Nordic Environment Finance Corporation (NEFCO) has signed a loan agreement with Altum Technologies for developing our software-guided power ultrasound technology in new markets.
NEFCO provides financing exclusively for green and climate-related projects with demonstration value and scale-up opportunities to make them profitable. The organization’s objective is to develop a positive impact on the environment and climate in a cost-efficient way.
The one million euro loan (EUR 1,000,000) will support Altum’s growth in the global market and enable our company to work with several projects in the pulp and paper industry.
“It is crucial for us to be able to demonstrate our technology to our customers so that they see how our solution helps to make their production processes more efficient and decreases their energy usage. With the NEFCO loan, we will now be able to continue our international expansion in several new markets,” said Matias Tainela, CEO at Altum Technologies, in connection to the signing.
“This is a very interesting innovation for decreasing energy usage in industrial production processes with the potential for a global impact. Our cooperation with Altum is a good example of how, after co-financing a feasibility study for internationalization, we can continue our support for further investments in new markets,” commented Dennis Hamro-Drotz, Investment Manager at NEFCO.
This is a great opportunity for Altum as it supports our company values in improving the wellbeing of our environment. It is estimated that the fouling of industrial equipment, such as pipes, tanks, and heat exchangers, is causing at least 2.5% of global CO2 emission. Altum’s software-guided power ultrasound makes the industrial process more efficient and less energy-intensive. In comparison with traditional cleaning methods, Altum’s de-fouling solution is a more environmentally friendly option, as it doesn’t require using any harmful chemicals. As a result, the technology helps to reduce CO2 emissions and other negative environmental impacts.
The Nordic Environment Finance Corporation (NEFCO) is an international financial institution (IFI) founded in 1990 through an intergovernmental treaty between sovereign states, including the Nordic countries Denmark, Finland, Iceland, Norway, and Sweden. NEFCO aims to develop the positive environmental impact of interests to the Nordic countries. The corporation arranges financing opportunities for small and medium-sized projects related to green growth, energy efficiency improvements, clean energy production, and wastewater treatment, among others.
Read more: https://www.nefco.org