Cinis Fertilizer granted loan by SEK and Nordea with a green credit guarantee from EKN
Cinis Fertilizer has been granted a seven-year loan agreement of SEK 300 million to finance part of the company’s first production facility for a circular and fossil free potassium sulfate. Lenders are the Swedish Export Credit Corporation (SEK) together with Nordea and the loan is guaranteed by the Swedish Export Credit Agency’s (EKN) green credit guarantee.
Cinis Fertilizer is planning the construction of its first production facility for fossil-free and circular mineral fertilizer at Köpmanholmen, south of Örnsköldsvik in Sweden. Now, the company has signed a loan agreement of SEK 300 million with Nordea and SEK, the Swedish Export Credit Corporation, which is guaranteed to 80 percent by EKN, the Swedish Export Credit Agency. The loan covers approximately half of the investment cost for the first production facility, which means that an important milestone for the establishment has now been reached.
- The demand for a sustainable mineral fertilizer produced in Europe has never been greater. Sweden is in an excellent position to become a world leader, drive the green transition and enable a more sustainable agriculture. We are incredibly happy and proud that EKN, Nordea and SEK have chosen to support our investment in a circular and fossil-free potassium sulfate with a close to zero carbon footprint produced in Sweden, says Jakob Liedberg, CEO and founder of Cinis Fertilizer.
The loan amounts to SEK 300 million and runs over seven years. Disbursement of the loan is subject to conditions such as the company securing the remaining capital for the first production plant and obtaining an approved environmental permit.
SEK, The Swedish Export Credit Corporation, is a state-owned company that finances Swedish export companies, their subcontractors and foreign customers on commercial and sustainable terms.
Nordea is a full-service bank, and the largest bank in the Nordics.
EKN, The Swedish Export Credit Agency, is an authority with the task of promoting Swedish exports by insuring the risk of not being paid in export transactions. EKN’s green credit guarantee facilitates financing of green exports as well as green transition projects within Swedish exporting companies.
For more information, please contact:
Charlotte Becker, IR and Communications Officer, Cinis Fertilizer
charlotte@cinis-fertilizer.com
+ 46 730 37 07 07
About Cinis Fertilizer
Cinis Fertilizer is a Swedish green tech company aiming to produce the world’s most environmentally friendly mineral fertilizer, potassium sulphate (SOP), by recycling industrial waste products from the pulp & paper industry as well as the car battery manufacturing industry. The patent protected technology will use half as much energy as today’s production methods and the result is a fossil-free fertilizer with a close to zero carbon footprint, a unique and circular contribution enabling sustainable agriculture. For more information, visit www.cinis-fertilizer.com.
