Go to search feature Go to content

You need to use a different browser. To be able to use our internet services, you can instead use one of these browsers: Apple Safari, Google Chrome, Microsoft Edge or Mozilla Firefox.

Read more about recommended browsers

SEB doubles Greentech unit’s investment capital

SEB Greentech team in Stockholm: Daniel Sjöstrand, Kristina Söderberg, Samira Aissi and Markus Hökfelt

SEB Greentech Venture Capital, the bank’s unit for investing in green technology, has invested in five companies to date. The unit has now received a doubling of its investment capital and is raising its ambition to find investments across the Nordic region and Europe.

“The challenging macroeconomic situation is currently making it harder for companies to get funding while the need to accelerate development of green technology is becoming increasingly clear. I am therefore proud that SEB steps up to the challenge and that we can further raise our level of ambition with an increased investment mandate from 300 to 600 million kronor,” says Markus Hökfelt, Head of SEB Greentech Venture Capital.

The unit was started in November 2020 with the mission to invest in green technology, focusing on transformative ideas that promise substantial impact in reducing greenhouse gas emissions or in preventing transgression of the planetary boundaries. This can encompass, for example, investments in renewable energy, energy storage, water and agricultural technology, circular business models as waste management.

“Our team is now in place, and we have made five ambitious investments, which we believe will be even more relevant as we move into the future,” says Markus Hökfelt.

To date SEB Greentech VC has used roughly a third of its initial investment capital of SEK 300 million kronor. The companies the unit has invested in are EngineZyme, which works with sustainable chemical production; CorPower Ocean, which develops wave energy technology; C-Green, which converts wet biosludge into environment-friendly biocoal; ClimateView, which has developed a dynamic planning and visualisation tool that helps cities reduce their carbon footprint; and Metry, which collects data for sustainability reporting and more efficient use of buildings.

Thus far all investments have been made in Swedish companies, but with the expanded mandate, greater focus will now be put on finding investments in the other Nordic countries and Europe.

“We are seeing very strong development of the ecosystem for startup companies in Norway, backed by the highest growth in green tech across the Nordics, says Susanne Gløersen, sustainability lead for SEB Greentech VC. “Through SEBs ScaleCenter, we have established a strong relationship with the innovation environment and have come in contact with many interesting companies.”