Terms
- Announced
- 14 Mar 2024
- Instrument
- Equity
- Amount
- US$27.2mReported as EUR 25m, converted at 1.087 USD/EUR (March 2024 average)
- Source
- novocarbo.com
Parties
- Project developer
- Novocarbo GmbH
- Recipient type
- Technology company
- Country
- Germany
- Capital providers
Capital providers and the amount counted for each Party Role Amount Basis SWEN Capital Partners Investor US$27.2m Sole provider: the whole transaction
Carbon
- Pathway
- Biochar
What happened
- Invested through the SWEN Impact Fund for Transition 2. The company calls it funding rather than equity; the equity classification rests on the fund’s growth equity mandate and on deal press describing a new shareholder, not on a company statement.
Kumo note
- EUR 25m of growth equity from a single transition infrastructure fund, taking a shareholding rather than lending against the plant. Biochar sits between venture and infrastructure, and a single infrastructure investor funding a company-level build out is a different answer to that problem from the syndicated venture rounds most biochar developers have raised.
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