The anaerobic digestion industry in the Nordics transforms organic waste into renewable energy and valuable byproducts. Companies offer technologies and solutions for processes like biogas production and agricultural waste management. As sustainability becomes paramount, the sector is experiencing substantial growth due to rising energy needs and increasing scrutiny on waste practices. Innovators are actively developing smarter, more efficient systems, ranging from small-scale farms to large municipal facilities. The region is rapidly advancing in biogas technology, with a few nations targeting circular economy initiatives that harness waste material effectively, indicating a promising future for anaerobic digestion innovations.


This article highlights twelve key investors within the Nordics' anaerobic digestion sector. Representing various investment types—including private equity and venture capital—these firms are headquartered primarily in Sweden and Finland. Established mainly between 1990 and 2015, these investors vary in size, from small startups to large corporations, with some making strategic investments in innovative ventures during 2024. Their engagement reflects a commitment to sustainability, as evidenced by notable deal counts in emerging companies focused on sustainable technologies.


Top 12 Anaerobic Digestion Investors in the Nordics


1. EQT Group

  • Website: eqtgroup.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1001-5000
  • Number of deals in 2024: 30
  • LinkedIn: eqt-partners

EQT Group is a prominent investment firm based in Stockholm, Sweden, specializing in private equity, infrastructure, real estate, growth equity, and venture capital. Founded in 1994, EQT serves institutional investors by managing diverse investment portfolios across multiple sectors and geographies. Notably, EQT Infrastructure has made significant investments in the waste management and energy sectors, including the acquisition of Covanta, a leading waste-to-energy firm, for $5.3 billion, and Synagro Technologies, which focuses on organic residuals management, for $465 million. These transactions highlight EQT's commitment to investing in companies that contribute to sustainable waste management solutions, aligning with the principles of anaerobic digestion.


2. EEP Africa

  • Website: eepafrica.org
  • Type: Corporate
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2010
  • Headcount: 11-50
  • LinkedIn: eepafrica

EEP Africa is a not-for-profit organization based in Helsinki, Finland, founded in 2010. It focuses on clean energy financing, providing early-stage grants and support for innovative clean energy projects in Southern and Eastern Africa. The organization aims to enhance energy access and investment, collaborating with various funding partners to facilitate sustainable development in the region. Among its notable transactions, EEP Africa has supported companies like Sistema.bio, which specializes in biogas solutions and anaerobic digestion technology, and The Waste Transformers, which also operates in the waste-to-energy sector. These investments highlight EEP Africa's commitment to promoting sustainable energy solutions, including anaerobic digestion, as part of its broader mission to foster clean energy initiatives.


3. Almi

  • Website: almi.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 201-500
  • Number of deals in 2024: 7
  • LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises (SMEs) in Sweden, aiming to enhance their growth and competitiveness. Almi has been involved in several transactions that highlight its investment strategy, including funding for C-Green, which raised significant amounts in both seed and venture rounds. C-Green's focus on sustainable technologies aligns with the principles of anaerobic digestion. Additionally, Almi's participation in funding rounds for companies like Big Akwa, a land-based trout producer, showcases its diverse investment portfolio, although this specific company is not directly related to anaerobic digestion. Overall, Almi's commitment to supporting innovative SMEs positions it as a potential player in the anaerobic digestion sector.


4. Lifeline Ventures


Lifeline Ventures is a venture capital firm based in Helsinki, Finland, founded in 2009. The firm specializes in early-stage investments in startups across various sectors, providing financial backing and advisory services to resilient founders. Lifeline Ventures has been involved in several transactions that align with sustainable practices and waste management. Notably, they participated in funding rounds for Ductor, a company that converts organic waste into valuable products, and Carbo Culture, which focuses on large-scale CO2 removal using woody waste. Their investment in P2X Solutions, which is involved in converting waste into energy, further emphasizes their interest in innovative solutions related to waste management and sustainability. Overall, Lifeline Ventures demonstrates a commitment to supporting startups that contribute to environmental sustainability, making them a relevant player in the anaerobic digestion space.


5. A.P. Moller - Maersk

  • Website: maersk.com
  • Type: Corporate
  • Headquarters: Copenhagen, Denmark
  • Founded year: 1904
  • Headcount: 10001+
  • Number of deals in 2024: 4
  • LinkedIn: maersk-group

A.P. Møller – Mærsk A/S is a logistics company based in Copenhagen, Denmark, specializing in shipping and logistics services globally. Founded in 1904, the company has a workforce of over 10,000 employees and is known for its efficient transportation solutions. In recent years, Maersk has expanded its investment portfolio to include sustainable technologies, particularly in the biofuels sector. Notably, they participated in funding rounds for WasteFuel, a company developing bio-methanol plants, and Kvasir Technologies, which focuses on innovative solutions in the bio-based sector. Their investment in Vertoro, which is developing patented liquid lignin technology, and Blue World Technologies, a maker of methanol fuel cells, further illustrates their commitment to supporting sustainable energy initiatives. These transactions highlight Maersk's strategic interest in bioenergy and related technologies, which are integral to the anaerobic digestion industry.


6. Almi Invest

  • Website: almiinvest.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2009
  • Headcount: 51-200
  • Number of deals in 2024: 3
  • LinkedIn: almi-invest

Almi Invest is a venture capital firm based in Stockholm, Sweden, founded in 2009. It specializes in providing loans and risk capital to small and medium-sized enterprises (SMEs) in Sweden, with a focus on business development support and guidance to help these businesses grow sustainably. Almi Invest has been involved in several transactions that align with green technology and sustainability, such as their participation in the €21M Series B funding round for EnginZyme, which focuses on sustainable bioprocessing. They also invested in the Swedish Algae Factory, which is engaged in sustainable aquaculture, and GreenIron, a startup that has raised significant funds for its green initiatives. These transactions highlight Almi Invest's commitment to supporting innovative companies that contribute to environmental sustainability, making them a potential player in the anaerobic digestion space.


7. Nefco - the Nordic Green Bank

  • Website: nefco.int
  • Type: Corporate
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 1990
  • Headcount: 51-200
  • Number of deals in 2024: 6
  • LinkedIn: nefco

Nefco - the Nordic Green Bank is a not-for-profit organization based in Helsinki, Finland, established in 1990. It focuses on financing green projects and sustainable development, providing loans and equity funding to Nordic SMEs and municipalities in Eastern Europe. Nefco plays a crucial role in supporting the growth of green initiatives and addressing climate change challenges through its financial services. In 2024, Nefco was involved in several transactions, including a loan to Coolbrook to support the commercialization of their RotoDynamic Heater technology, which aims to decarbonize high-temperature industrial processes. This indicates Nefco's commitment to innovative technologies that may align with anaerobic digestion projects. Additionally, they provided debt financing to Mash Makes and Resand Oy, which could potentially relate to sustainable practices. Overall, Nefco's investment strategy reflects a strong emphasis on environmentally friendly solutions, making them a potential player in the anaerobic digestion sector.


8. Chalmers Ventures


Chalmers Ventures is a venture builder and tech investor based in Sweden, founded in 2015. They focus on deep tech innovations and support researchers and entrepreneurs in commercializing their technology through various programs. Their approach includes providing business guidance, financing, and community networking, emphasizing active ownership and investment in startups to help them scale and succeed in the market. Notably, Chalmers Ventures has been involved in several funding rounds for companies like Swedish Algae Factory, which raised significant amounts in various rounds, indicating their commitment to sustainable and innovative technologies that could align with anaerobic digestion practices.


9. Alder

  • Website: alder.se
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2008
  • Headcount: 11-50
  • Number of deals in 2024: 1
  • LinkedIn: alderfund

Alder is a private equity investment fund based in Stockholm, Sweden, founded in 2008. The firm specializes in providing growth and buyout capital to established companies with a turnover between SEK 100-750 million, focusing on sustainable technology sectors. Alder has been involved in several acquisitions, including Centriair, Jernforsen, Nordic Water Products, and Scanacon AB. These companies operate in areas related to environmental technology and sustainable solutions, which may include applications relevant to anaerobic digestion. For instance, Jernforsen is known for its work in energy and environmental solutions, while Nordic Water Products focuses on water treatment technologies, both of which can intersect with anaerobic digestion practices. Alder aims to leverage its industrial and financial expertise to foster the long-term development of its portfolio companies, aligning with the goals of sustainability and innovation in the energy sector.


10. Springvest Oyj

  • Website: springvest.fi
  • Type: Venture Capital
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2012
  • Headcount: 11-50
  • Number of deals in 2024: 3
  • LinkedIn: springvest

Springvest Oyj is a venture capital investment service company based in Helsinki, Uusimaa, Finland, founded in 2012. The firm specializes in connecting investors with promising Finnish growth companies, facilitating funding rounds, and providing investment management services. In 2017, Springvest participated in a Series A funding round for Ductor, a company that focuses on anaerobic digestion technology to convert organic waste into valuable products. Additionally, they were involved in the Series A funding for Convion in 2018, which, while not directly related to anaerobic digestion, indicates their engagement in the broader clean technology sector. Most recently, in 2024, they participated in a Series A funding round for Volare, further showcasing their active role in supporting innovative companies. Through these transactions, Springvest demonstrates a commitment to investing in sectors that include anaerobic digestion, making them a relevant player in this field.


11. VIA equity

  • Website: viaequity.com
  • Type: Private Equity
  • Headquarters: Hellerup, Denmark
  • Founded year: 2006
  • Headcount: 11-50
  • Number of deals in 2024: 3
  • LinkedIn: via-equity

VIA equity is a private equity firm based in Hellerup, Denmark, founded in 2006. The firm specializes in investments in the technology sector, particularly software and IT companies, but has also shown interest in sectors related to sustainability and energy. Notable transactions include the acquisition of EnviDan, a company involved in environmental consulting, and Linka Energy, which focuses on biomass energy solutions. These investments suggest a commitment to supporting businesses that contribute to sustainable energy practices. Additionally, VIA equity's acquisition of eSmiley, a developer focused on food waste management, highlights their engagement in sectors that align with anaerobic digestion principles, as food waste is a key feedstock for such processes. Overall, VIA equity aims to partner with ambitious businesses to provide capital and strategic guidance, helping them grow and become industry leaders.


12. Nordic Capital

  • Website: nordiccapital.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1989
  • Headcount: 201-500
  • Number of deals in 2024: 10
  • LinkedIn: nordic-capital

Nordic Capital is a private equity firm based in Stockholm, Sweden, founded in 1989. The firm specializes in investments across various sectors, including healthcare and technology, and has a strong focus on creating long-term value and sustainability in its investments. In recent years, Nordic Capital has made significant strides in the environmental sector, notably through its acquisition of Sortera, a leading environmental services provider in Sweden, aimed at enhancing sustainable service offerings. Additionally, the firm acquired Greenfood Group, which operates in the food sector with a focus on sustainability. These transactions indicate Nordic Capital's commitment to supporting companies that prioritize environmental sustainability, which is a key aspect of anaerobic digestion. Their clients primarily consist of institutional investors seeking sustainable investment opportunities, further emphasizing their alignment with the principles of sustainability and environmental responsibility.



Anaerobic Digestion Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
EEP AfricaHelsinki, Uusimaa, Finland11-5020100
AlmiStockholm, Stockholm, Sweden201-50019947
Lifeline VenturesHelsinki, Uusimaa, Finland1-10200914
A.P. Moller - MaerskCopenhagen, Denmark10001+19044
Almi InvestStockholm, Stockholm, Sweden51-20020093
Nefco - the Nordic Green BankHelsinki, Uusimaa, Finland51-20019906
Chalmers VenturesSweden11-50201526
AlderStockholm, Stockholm, Sweden11-5020081
Springvest OyjHelsinki, Uusimaa, Finland11-5020123
VIA equityHellerup, Denmark11-5020063
Nordic CapitalStockholm, Stockholm, Sweden201-500198910


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