Vinga Group enters financing partnership with WA3RM for new large greenhouse projects

Vinga Group has signed an agreement with its existing client WA3RM for a long-term financing partnership. The agreement covers the future financing of WA3RM’s upcoming projects, including two large-scale greenhouse initiatives in Scandinavia, with a total financing framework of up to SEK 11.5 billion.

Through this financing partnership, Vinga Group (“Vinga”) will primarily act as the financing coordinator for a total of three new WA3RM projects.

Vinga previously participated in the financing of another WA3RM project, not included in this agreement, which involved the construction of the largest greenhouse in the Nordics. For the project, located in Frövi, Vinga structured and distributed financing through green bonds and loans amounting to approximately SEK 610 million.

The new financing agreement includes WA3RM’s circular development projects in Östersund, Sweden, and Varde, Denmark, where plans involve building large greenhouses that utilize waste heat from nearby data centers for large-scale vegetable production. The financing collaboration with Vinga is aimed at the construction phases of these projects.

“We are very pleased to continue working with Vinga on financing solutions for our upcoming projects in Scandinavia. Developing circular industrial projects is a complex team effort, and we are delighted to have Vinga alongside us in this work. Their expertise and experience in supporting large-scale sustainable infrastructure investments are a perfect fit for us,” says Jacques Ejlerskov, CEO of WA3RM.

“WA3RM is building tomorrow’s society, where reduced climate impact is combined with increased employment and self-sufficiency. We are proud of the continued mandate to contribute financing to the company’s projects. This partnership marks a milestone in our efforts to provide Nordic growth companies with access to sustainable financing,” says Tom Olander, CEO of Vinga Group.

The financing partnership agreement spans a period of four years, giving Vinga the opportunity to coordinate financing for the three projects. All financing solutions are subject to Vinga’s customary internal credit assessments. The projects are in various stages, with a significant portion of the project portfolio currently in very early phases, subject to uncertainties such as building permit approvals and typical project risks.

Vinga’s compensation is based on the successful execution of the above projects, with the size of the compensation during the period dependent on the form in which financing is carried out.

About Vinga Group
Vinga Group was founded in 2010 and offers a wide range of financial services within corporate finance, investment advisory, and asset management. Through international reach and placing power, Vinga provides investors and growth companies access to the Nordic capital markets. With over 200 transactions and SEK 20 billion in raised capital, Vinga is a leading provider of bond financing for Nordic growth companies.

About WA3RM
WA3RM is a global leader in developing circular operations on an industrial scale for recycling waste streams. By utilizing waste heat from energy-intensive industrial production, WA3RM has developed a circular model enabling profitable vegetable cultivation in colder climates. Vegetable production in modern greenhouses using waste heat addresses many of the challenges in today’s global food production, such as water scarcity and emissions from fossil fuel heating.

For more information, please contact:

Tom Olander, CEO of Vinga Group
+46 (0) 706 83 75 31
to@vingagroup.com