Since the start-up in 2018, Nysnø Klimainvesteringer has had a paper gain of NOK 118.6 million. Most are due to one investment.
Siri Kalvig and the other employees in Nysnø Klimainvesteringer are located in stately premises in the center of Stavanger.
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The paper gain of NOK 118.6 million corresponds to an annual gross return of 11.9 per cent of invested capital of NOK 900 million.
In total, the state green fund has been allocated NOK 2.4 billion. A large part of this is currently not invested in companies or funds, although much has been set aside for follow-up investments in the existing portfolio.
– I am pleased
– Yes, I am satisfied with the result, says Nysnø boss Siri Kalvig to Aftenbladet / E24. – After all, it is only three years since we made our first investment. We invest in new companies and funds where it usually takes a long time to get a return on investment.
Kalvig believes that the return shows that the employees at Nysnø have both capital discipline and a flair for good investments.
– But I am aware that it can fluctuate quickly in this industry, so I do not place decisive emphasis on the figures for this quarter. But it is nice to show that climate investment is profitable. I have faith in our social mission!
The least I could do?
– Some will say that it should only be missing that you get a certain profit when you are allocated so much over the state budget? In total, will you dispose of NOK 3.3 billion when the allocation from this year’s state budget soon comes into account?
– First, it is important to measure ourselves on the basis of invested capital, and remember that we mostly invest in companies at an early stage. An important task for us is also to motivate private capital to invest green. And we have succeeded in that.
Kalvig firmly believes that the return to Nysnø will increase in the coming years.
–Siri Kalvig and Investment Director Eivind Egeland Olsen in Nysnø had a video meeting with Andreas Thorsheim in Otovo in February, in connection with the company being listed on the stock exchange.
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Otovo contributes the most
Nysnø has so far invested in over 20 companies and funds. The solar cell company Otovo is by far the most important contributor to the return in Nysnø.
– Yes, that is correct, says investment director Eivind Egeland Olsen. – In addition, a couple of the funds have done well. But it is Otovo that contributes the most.
Nysnø has had a high investment rate so far this year, with a total of nine new investments directly in companies and funds.
– We will maintain this investment rate in 2022. We will probably then invest a little more in direct investments in companies, says Egeland Olsen.
Nysnø has recently hired former Pareto partner Joe Eliston. He shall be responsible for such direct investments.
