Polhem Infra and Nordic Infrastructure acquire additional stake in Solör Bioenergy Group

Solör Bioenergy Group ́s existing shareholders, the Infrastructure investor Polhem Infra and the majority shareholder Nordic Infrastructure, increase their shareholding by acquiring all shares from YRC Worldwide Inc.

Solör Bioenergy Group announced today that Polhem Infra, wholly owned by the Swedish State Pension Funds AP1, AP3 and AP4 and Nordic Infrastructure, the original Solör Bioenergy Group founders holding company, have acquired 3.66% of the shares in Solör Bioenergy Group from the existing shareholder YRC Worldwide inc. 90% of the shareholding are acquired by Polhem Infra and 10% of YRC ́s shares are acquired by Nordic Infrastructure.

“Solör Bioenergy Group is a leading energy company for wood-based district heating with focus on the highest ESG standards. Moreover, we are executing a rapid growth strategy and will continue to be ambitious and action oriented while we continue to serve as an active and responsible partner to our clients,” says Martinus Brandal, Chairman & CEO of Solör Bioenergy. “Therefore, Nordic Infrastructure is taking this opportunity to increase it ́s shareholding in this growing company,” adds Brandal.

The investment in Solör Bioenergy Group was the first for Polhem Infra after its foundation 2019. “The Group has a proven track record as an industry consolidator with several successful transactions since Polhem Infra ́s initial investment. Therefore, Polhem Infra took this opportunity to acquire additional shares, as we view Solör as an important and long – term investment Polhem Infra will continue to focus on further enhancing the company’s position as a sustainable and responsible provider of district heating to its customers and society”, says Mikael Lundin, CEO of Polhem Infra.

The parties have agreed not to disclose the purchase price.

For more information, contact:
Martinus Brandal
Chairman & CEO, Solör Bioenergy Group
+47 916 30 060
martinus.brandal@solorbioenergi.com

Mikael Lundin
CEO, Polhem Infra
+46 70 278 05 84
mikael.lundin@polheminfra.se

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Green Finance Framework certificate

In the Solör Group, we strive to have a fossil-free production of energy with an ambition to be climate neutral. By producing renewable energy and recycling hazardous wood waste, we wish to promote the transition towards an environmentally sustainable society. We are actively working to increase the proportion of biofuels, minimize the share of fossil fuels, reduce electricity consumption and increase efficiency in our production of energy.

Our operations require compliance with strict environmental regulations and codes in the countries where we operate, as well as permits and licenses. To ensure a consistently high quality, we benchmark our production facilities to identify improvement areas and implement best practice processes for all plants. To reduce our electricity use, we are installing metering devices to monitor electricity use, we are enhancing the efficiency of existing flue gas condensers, pumps, fans and compressors, and we are installing LED lighting.

BE Bio Energy Group AG and the Solör Group have obtained a Second Party Opinion from CICERO Shades of Green to confirm the transparency of this Green Finance Framework and its alignment with the LMA Green Loan Principles and the ICMA Green Bond Principles, both published in 2018. The Second Party Opinion is available here together with the Green Finance Framework.

Download documents:
The Second Party Opinion »
Green Finance Framework »

Solör Bioenergy establish a new finance structure

Solör Bioenergy forms a new group finance structure for the entire company. The new group finance structure consists of a syndicate of 6 international banks to further strengthen the Group’s growth strategy. Solör Bioenergy Group announced today that it completed a refinancing for the entire Group. The new financing structure includes a Senior Facility as well as a Junior Facility. The new financing covers the entire Group and includes a substantial Capex Facility and a Revolving Credit. This will contribute to the Groups growth strategy going forward.

“With this new finance structure, we have secured access to liquidity for our operations and growth strategy within renewable district heating and biomass production in the Nordics”, says Martinus Brandal, Chairman & CEO of Solör Bioenergy. “With this kind of financial power, we will be able to further accelerate our growth strategy as well as strengthening our position as a leading provider of district heating”, adds Brandal.

“We operate in 77 municipalities in Sweden and 17 municipalities in Norway, and we deliver safe and clean energy to the highest ESG standards. We will continue our M&A strategy with small and mid-size acquisitions”, says Brandal.

For more information, contact:
Martinus Brandal
Chairman & CEO, Solör Bioenergy Group
+47 916 30 060

Florian Raitner
CFO, Solör Bioenergy Group
+41 786 79 8844

Stockholm, March 24, 2020

Solör Bioenergy
Group Solör Bioenergy Group provides essential energy services in Sweden, Norway and Poland. The Group produces wood-based bioenergy for the public and private sector including private households, municipalities, industrial customers and local/regional governments. The annual energy delivery amounts to approximately 2.5 TWh and the Group has approximately 8,800 customers and the equivalent of 156 500 users. The head office is located in Stockholm, Sweden. Read more about Solör Bioenergy Group at www.solorbioenergi.com.

Polhem Infra acquires equity stake in Solör Bioenergy Group

Solör Bioenergy Group attracts the Infrastructure investor Polhem Infra as a long-term equity partner to further strengthen its successful growth strategy within district heating and renewable bioenergy in Sweden and Norway.

Solör Bioenergy Group announced today that Polhem Infra, wholly owned by the Swedish State Pension Funds AP1, AP3 and AP4, has acquired 21.45% of the shares in Solör Bioenergy Group from existing shareholders. 10% of the shares are sold by the majority shareholder.

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Solør Bioenergy Group – Change in the main shareholder’s ownership structure

The main shareholder of Solør Bioenergy Group (SBG) in Sweden, BE Bio Energy Group (BEG) in Switzerland, announced today its purchase of Socael AS shares in BEG.

BEG announced today its purchase of all Socael’s shares in BEG.

Socael has been an important financial investor in BEG during the last 10 years and has been instrumental for the successful development of the wood-based bio energy business in the Group.

Over the last 10 years SBG has developed its bio energy business from having one plant in Norway to having more than 140 bioenergy district heating plants mainly in Sweden and Norway.

We thank Socael for its contribution as a strategic investor in the early phase of developing the growth strategy of the Group, which has turned SBG into a leading renewable district heating bio energy company in the Nordic region.

The parties have agreed not to disclose any further details of this transaction. 13th of June 2019

For information please contact:
Martinus Brandal
Chairman & CEO, Solør Bioenergy Group
+47(0)91 63 00 60
martinus.brandal@solorbioenergi.com

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Solør Bioenergy Group

Solør Bioenergy Group provides essential energy services primarily in Sweden, Norway and Poland. The Group produces wood-based bioenergy for the public and private sector including private households, municipalities, industrial customers and local/regional governments. As a leading bioenergy company, the Group is operating in the entire value chain from procurement, production and distribution to sale of energy in form of district heating, local heat, industrial steam, electricity and various biomass products. Within the Group’s operations, there are 56 central district heating plants, 86 local district heating plants, 3 environmental terminals, 4 pellet plants and 1 briquette plant. The annual energy delivery amounts to approximately 2.5 TWh and the Group has approximately 8,800 customers and the equivalent of 156 500 users. The head office is located in Stockholm, Sweden.