NRP announces launch and first close of the Nordic cleantech fund – NRP Green Transition I
NRP Zero announces launch and first close of the Nordic cleantech fund – NRP Green Transition I
NRP Zero AS is pleased to announce the launch of NRP Green Transition I AS (the “Fund”), a Norwegian alternative investment fund managed by NRP Zero. The Fund had its first close in July, backed by significant institutional investors, family offices and high-net-worth individuals. The close was achieved despite turbulent financial markets and a short marketing period.
The Fund seeks to build a diverse portfolio of influence-oriented investments in small to medium sized Nordic cleantech companies, with the goal of making an environmental impact beyond Nordic borders and achieve long term capital appreciation.
NRP Zero, the manager of the Fund, is based in Oslo and founded by Oscar Spieler, Carl Petter Finne and Ness, Risan & Partners AS. The investment team of the manager has a long and solid track record from active ownership in various sectors, and in particular energy related industries.
“We would like to thank our investors for their strong support and the confidence they have placed in us. The response to the Fund’s strategy has been very well received, in particular the targeting of early-stage companies with a focus on the green energy transition and our active ownership approach. Moreover, our perspective on limited technical risk and protection of 1x on each investment sets us apart from other funds.” says Oscar Spieler, Executive Chairman of NRP Zero.
Carl Petter Finne, CEO of NRP Zero adds: “The backdrop of significantly reduced asset prices over the last year has created an opportune timing for early-stage investments”.
To date, NRP Zero has concluded two investments, C-LEANSHIP and an undisclosed investment in a Nordic electric motor technology company:
C-LEANSHIP is a state-of-the-art underwater vessel cleaning services provider using remotely operated vehicles (ROVs) to perform ship cleaning and inspection services. See www.c-leanship.com for further details.
In addition, the team is in advanced negotiations on a third investment in the green energy logistics space.
Going forward, NRP Zero team aims to develop and nurture relationships with early-stage cleantech companies. “We seek to be the preferred investor and partner for entrepreneurs. Not only providing capital, but also competence and experience in developing and commercialising cleantech companies.” Says Andreas Marø, Partner at NRP Zero.
The Fund is currently marketing towards new investors for a second close before year-end.
“Ness, Risan & Partners see exciting growth opportunities in ESG and sustainability. Consequently, we are reinvesting parts of the proceeds from the sale of the real-estate business to Swiss Life to contribute to the establishment of NRP Zero and the Fund” Says Ragnvald Risan, Co-Founder and Managing Partner of Ness, Risan & Partners.