The environmental engineering industry in the Nordics is focused on sustainable practices that address climate change and resource management. It includes companies that develop innovative solutions for waste management, renewable energy, and clean water treatment. This sector is characterized by its commitment to minimizing environmental impact while enhancing societal benefits. As European regulations tighten and public demand for green solutions grows, Nordic firms are successfully pioneering advancements in technologies that promote sustainability. Expect to see a rise in partnerships between private investors and engineering firms, fostering growth in innovative environmental solutions across the region.


The list of noted investors encompasses private equity firms, corporate entities, and venture capitalists based across the Nordic countries. Headquartered mainly in Sweden and Norway, these firms showcase a range of sizes, from boutique to large-scale operations. Founded as early as 1978, their number of deals in 2024 reflects an active engagement in the environmental engineering sector. Investors like EQT Group and Katapult have played pivotal roles in reshaping the industry, reinforcing their dedication to sustainable investments in areas critical to our planet's future.


Top 13 Environmental Engineering Investors in the Nordics


1. 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 through tailored financial solutions. Almi has been involved in several notable transactions, particularly in the environmental engineering sector. For instance, it participated in a funding round for Stockholm Water Technology, which raised 10 million Swedish crowns for market entry and product development, indicating a focus on innovative water solutions. Additionally, Almi invested in C-Green, which raised over $5.7 million, suggesting a commitment to supporting companies with potential environmental benefits. These transactions highlight Almi's engagement in the environmental engineering space, alongside its broader investment strategy.


2. Katapult

  • Website: katapult.vc
  • Type: Venture Capital
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 2017
  • Headcount: 11-50
  • Number of deals in 2024: 8
  • LinkedIn: katapult-accelerator

Katapult is an impact investment firm based in Oslo, Norway, founded in 2017. They specialize in supporting tech startups that tackle global challenges through investment, accelerator programs, and mentorship. Katapult has been actively involved in various sectors, including climate-tech and ocean-tech. Notable transactions include their investment in Ecospears, which focuses on environmental remediation, and Ichthion, which also addresses environmental issues. In 2023, they participated in a $10 million Series A funding round for Matter., a company developing microplastic filtration technology, showcasing their commitment to innovative environmental solutions. Additionally, their investment in Sand to Green highlights their focus on sustainable agricultural practices in Africa, further emphasizing their role in promoting environmental engineering initiatives.


3. 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 private equity investment firm based in Stockholm, Sweden, founded in 1994. The firm specializes in managing diverse investment portfolios across multiple sectors, including private equity, infrastructure, real estate, growth equity, and venture capital. Notably, EQT has made significant investments in the environmental engineering space, including the acquisition of Covanta, a leading waste-to-energy company, for $5.3 billion in 2021. This acquisition highlights EQT's focus on sustainable energy solutions. Additionally, EQT's acquisition of Saur SAS, valued at over €1 billion, further demonstrates their commitment to environmental management, particularly in water and waste services. These transactions reflect EQT's strategic interest in companies that contribute to environmental sustainability and engineering solutions.


4. Equinor

  • Website: equinor.com
  • Type: Corporate
  • Headquarters: Stavanger, Rogaland, Norway
  • Founded year: 1972
  • Headcount: 10001+
  • Number of deals in 2024: 6
  • LinkedIn: equinor

Equinor ASA, founded in 1972 and based in Stavanger, Norway, is a public entity operating primarily in the energy sector, with a focus on oil, gas, and renewable energy. The company is committed to sustainability and aims to achieve net-zero emissions by 2050. Equinor has made significant investments in environmental engineering-related projects, including a 25% acquisition in the Bayou Bend CCS project, which is one of the largest carbon capture and sequestration initiatives in the United States. This strategic move positions Equinor as a key player in addressing climate challenges through innovative solutions. Additionally, Equinor Technology Ventures has invested in Upwing Energy to support the development of downhole gas compressors, further emphasizing their commitment to advancing technologies that enhance energy efficiency. Their involvement in funding rounds for companies like Inherit Carbon Solutions and participation in the Carbon Trust also reflect their dedication to fostering sustainable practices within the energy sector.


5. Afry

  • Website: afry.com
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1895
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: afry

AFRY AB, based in Stockholm, Sweden, is a corporate consulting and engineering firm founded in 1895. The company specializes in a variety of services, including sustainability consulting, digital solutions, and project management across multiple industries. In recent years, Afry has made several strategic acquisitions to bolster its offerings in the environmental engineering space. Notably, they acquired Numerola Oy, a leading provider of digital solutions in wind power, which enhances their capabilities in renewable energy projects. Additionally, their acquisition of Vahanen further strengthens their position in sustainability consulting, as Vahanen is known for its expertise in environmental and building services. These transactions reflect Afry's commitment to improving efficiency and sustainability for their clients, making them a significant player in the environmental engineering sector.


6. 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. Notable transactions include investments in companies like OffGridBox, which provides affordable renewable energy and clean water solutions, and several other ventures such as Witech, East African Power, Gommyr Power Networks, and Millennium Engineers, all of which are involved in the clean energy sector. These transactions highlight EEP Africa's commitment to fostering sustainable energy solutions, which is a key aspect of environmental engineering.


7. Business Finland

  • Website: businessfinland.fi
  • Type: Corporate
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2018
  • Headcount: 501-1000
  • Number of deals in 2024: 26
  • LinkedIn: business-finland

Business Finland is a public entity that supports Finnish companies in their growth and internationalization efforts. Founded in 2018, it offers funding, consulting services, and market opportunities to help businesses innovate and succeed in global markets. The organization plays a crucial role in promoting trade, tourism, and foreign investment in Finland. In recent transactions, Business Finland has provided significant grant funding to companies engaged in environmental engineering projects. For instance, Betolar Plc received up to €2.7 million for research on alternative side streams, which is directly related to sustainable practices in construction materials. Additionally, Fiberwood, which focuses on sustainable production capabilities, also received public financing from Business Finland. These examples highlight Business Finland's commitment to supporting environmental innovation and sustainability initiatives.


8. HitecVision

  • Website: hitecvision.com
  • Type: Private Equity
  • Headquarters: Stavanger, Rogaland, Norway
  • Founded year: 1985
  • Headcount: 51-200
  • LinkedIn: hitecvision

HitecVision is a private equity investment firm based in Stavanger, Rogaland, Norway, founded in 1985. The firm specializes in the European energy sector, focusing on providing institutional capital to energy production and infrastructure projects. HitecVision emphasizes sustainability and the energy transition, managing private equity funds and partnering with various stakeholders to drive growth in renewable energy and related industries. Notable transactions include the acquisition of Apply in 2007, Global Maritime in 2012, and Ross Offshore in 2008, all of which are involved in energy services that may intersect with environmental engineering. Additionally, their investment in Hafslund Oslo Celsio in 2022 highlights their interest in ventures that could enhance energy efficiency and sustainability, further supporting their commitment to environmental initiatives.


9. EV Private Equity


EV Private Equity is a private equity investment firm based in Stavanger, Rogaland, Norway, founded in 2002. The firm specializes in energy technology and sustainable investments, partnering with management teams to enhance business strategies and drive emissions reduction in energy-intensive sectors. Their focus on responsible investment practices positions them as a leader in the transition to a sustainable energy future. Notable transactions include investments in companies like Aquaterra Energy, which provides riser systems and offshore structures to the oil and gas industry, and Ingrain, which has raised funds for its operations. While some investments are in traditional energy sectors, the firm's overarching commitment to sustainability and emissions reduction aligns with the principles of environmental engineering.


10. Instalco

  • Website: instalco.se
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2014
  • Headcount: 1001-5000
  • Number of deals in 2024: 2
  • LinkedIn: instalco

Instalco is a corporate investor based in Stockholm, Sweden, specializing in installation and consulting services across plumbing, electrical, ventilation, and industrial sectors. Founded in 2014, Instalco operates through a decentralized model, allowing local companies to maintain their identity while benefiting from shared resources and best practices. Notably, Instalco has made significant acquisitions that enhance its presence in environmentally relevant sectors. In 2020, they acquired Marine Environmental Solution AB (MESAB), a company focused on installations for the marine industry, which reported sales of approximately SEK 160 million. This acquisition marked Instalco's entry into the marine sector, emphasizing their commitment to environmental solutions. In 2023, Instalco acquired Processus AB, an engineering firm specializing in project management and automation, which allows them to leverage expertise in various industries, including pharmaceuticals. Furthermore, their acquisition of Teampipe Sweden AB in 2020, which specializes in welding and pipe installations in sensitive environments, indicates a focus on operations that require careful environmental considerations. These transactions highlight Instalco's strategic direction towards integrating environmental engineering aspects into their business model.


11. 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 that provide business guidance, financing, and community networking. Notably, they have invested in startups like Adsorbi, which raised significant funding for its air purification materials aimed at odour removal and art conservation, highlighting their engagement in environmental technology. Additionally, they supported Mimbly, which raised funds for its innovative solutions that likely contribute to sustainability in water usage. Their model emphasizes active ownership and investment in startups, helping them scale and succeed in the market, particularly in sectors that can have a positive environmental impact.


12. Pale blue dot

  • Website: paleblue.vc
  • Type: Venture Capital
  • Headquarters: Malmo, Skåne, Sweden
  • Founded year: 2020
  • Headcount: 1-10
  • Number of deals in 2024: 9
  • LinkedIn: palebluedot-vc

Pale Blue Dot is a venture capital firm based in Malmo, Skåne, Sweden, founded in 2020. The firm specializes in investing in early-stage startups that focus on climate change solutions, providing both funding and support to visionary founders. Their portfolio includes a diverse range of companies emphasizing sustainability and innovation. Notably, Pale Blue Dot has invested in Paebbl, a carbon storage startup that raised $25 million in a Series A round in October 2024, and previously secured €8 million in a seed round for its carbon-negative construction material. Additionally, they have invested in Nala Earth, a Nature Tech company that helps businesses measure and report their impact on biodiversity, securing €1.7 million in funding. Another investment includes Brineworks, which raised $2.2 million in a seed round. These transactions highlight Pale Blue Dot's commitment to supporting companies that are making significant strides in environmental engineering and sustainability.


13. Indutrade Life Science

  • Website: indutrade.se
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1978
  • Headcount: 1001-5000
  • Number of deals in 2024: 14
  • LinkedIn: indutrade-life-science

Indutrade Life Science is a corporate investor based in Stockholm, Sweden, founded in 1978. The company is part of an industrial group that focuses on developing and acquiring companies with high technical expertise across various technology and industrial sectors. Indutrade emphasizes long-term relationships with its customers and operates through a decentralized structure, allowing its subsidiaries to maintain independence while benefiting from the group's resources. Notably, Indutrade has made significant acquisitions in the environmental engineering space, including acti-Chem, a Danish company specializing in sustainable water treatment solutions, and OCI B.V., which focuses on customized assemblies for energy and water applications. These strategic acquisitions highlight Indutrade's commitment to enhancing its portfolio with companies that contribute to environmental sustainability and innovative solutions in the engineering sector.



Environmental Engineering Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
AlmiStockholm, Stockholm, Sweden201-50019947
KatapultOslo, Oslo, Norway11-5020178
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
EquinorStavanger, Rogaland, Norway10001+19726
AfryStockholm, Stockholm, Sweden10001+18951
EEP AfricaHelsinki, Uusimaa, Finland11-5020100
Business FinlandHelsinki, Uusimaa, Finland501-1000201826
HitecVisionStavanger, Rogaland, Norway51-20019850
EV Private EquityStavanger, Rogaland, Norway11-5020020
InstalcoStockholm, Stockholm, Sweden1001-500020142
Chalmers VenturesSweden11-50201526
Pale blue dotMalmo, Skåne, Sweden1-1020209
Indutrade Life ScienceStockholm, Stockholm, Sweden1001-5000197814


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