Igrene Invests in SEID AS for Green Tech Collaboration

AB Igrene, a Swedish company known for its hydrocarbon exploration in Dalarna, has taken a significant step towards sustainable innovation by investing in Norwegian SEID AS. This strategic move involves a convertible loan of 3 million NOK at a 12% interest rate, which will be converted into a 6-7% stake in SEID AS within a year. This investment is facilitated through the holding company STYR, which controls SEID AS.

The collaboration between Igrene and SEID AS is set to focus on developing new technologies for environmentally friendly conversion of harmful chemical substances into safe and valuable products. A key area of interest is the commercialization of ColdSpark®, a technology designed to convert methane into hydrogen and carbon. This technology has garnered international attention and is supported by EU grants. The next phase involves establishing a demonstration plant, with several locations under consideration.

Hydrogen, a valuable fuel, is in high demand across industrial and transport sectors. Similarly, carbon has numerous applications, particularly in battery manufacturing, where equivalent materials are currently imported. SEID AS has a strong track record with established technologies for industrial air and exhaust purification. Their APC (Air Pollution Control) technology, used in the marine sector, efficiently purifies ship engine exhausts and enables CO2 separation for onboard storage. This technology has been successfully marketed for six months, generating significant profits that support ongoing technological development.

With this partnership, the companies are poised to become a powerful Nordic entity in the industrial transition towards a fossil-free society through innovative technology. Annette Blyhammar, CEO of AB Igrene, expressed enthusiasm for this strategic investment, highlighting the potential to leverage Swedish energy resources responsibly and combine them with Norwegian cutting-edge technology to foster a more climate-friendly society, ultimately creating greater value for shareholders in both Sweden and Norway.

Given the promising outlook of this collaboration and the strategic alignment with global sustainability trends, investors may consider holding onto their shares to potentially benefit from the long-term gains this partnership could yield.