Annual report 2022: Nine new investments and increased capital to green industry

Despite major market fluctuations, Nysnø has kept a steady course and maintained a good investment rate through 2022. Last year, Nysnø made six direct investments and three fund investments, and by year end Nysnø was co-owner in 19 companies and 13 funds. Through its portfolio, the company has contributed growth capital to more than 185 companies directly or indirectly through fund investments.

Nysnø delivers a positive annual result for 2022 of NOK 96.6 million and has had a positive value development in the portfolio of NOK 113 million. Throughout the year, the company has welcomed three new employees who strengthen the ability to work actively with the existing portfolio and make good future investments.

“Nysnø has continued the investment rate through volatile times and is delivering the best annual result in our short history. We experience that our role as a stable and long-term public investor is even more valued in today’s market”, says CEO Siri Kalvig.

 

Increased capital to green industry and offshore wind

In 2022, Nysnø adopted a new investment strategy with an increased focus on industrial venture as a new investment area. The company made two major investments in the battery manufacturer Morrow Batteries and the raw material manufacturer REEtec with a total investment frame of NOK 175 million.

Nysnø also entered offshore wind and invested in Vårgrønn, which will develop and operate offshore wind projects, and Spoor AI, which develops technology to monitor and protect bird life at wind farms. By channeling capital to scale up green industry, Nysnø contributes to building new value chains that reduce emissions on an industrial scale.

“To reduce climate emissions on a large scale, large investments in green industry are needed. We cannot solve the climate challenge in the cloud. We must dig into the ground and build the new green value chains, including offshore wind, battery technology and production technology,” urges Kalvig.

 

The annual report can be found in Norwegian here: Arsrapport-2022-Endelig.pdf