Netmore and Polar Structure enter long-term partnership by forming Netmore Polar Networks

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Netmore Group AB, Sweden’s leading private network operator, and Polar Structure AB, investor and developer of Nordic infrastructure, have entered into a long-term strategic partnership which will see the companies collaborating across various business areas. Polar Structure’s current business areas will offer a customer base for the jointly owned company Netmore Polar Networks.

In short, the deal includes the following areas of collaboration:

  1. Polar Structure adds a credit line of 50 million SEK to the new company Netmore Polar Networks (NPN), which will enable faster establishment of a nationwide IoT-network (Internet of Things). In combination with Netmore’s current operating business, including the IoT-networks of 60 Swedish municipalities, this expansion will allow customers to roll-out sensor and tracking solutions that require larger geographical coverage.
  1. Further, the collaboration grants Netmore exclusivity in meeting all of Polar Structure’s IoT needs. In return, NPN will ensure appropriate IoT-coverage needed for Polar Structure’s national and international business operations.
  1. The parties have also agreed on a financing solution to be offered to Netmore’s customers to enable and encourage both network expansion and the purchase of sensors. The deal will be offered to customers within all of Netmore’s business areas. The goal of the financing is to offer property owners an attractive way to digitalize their properties, which includes the business opportunity of owning their own 5G infrastructure.
  1. To accelerate Netmore’s expansion, Polar Structure has granted a convertible loan of 30 million SEK which can be converted into Netmore AB shares within 3 years at a price of 3,00 SEK a share. The Netmore board agree that the deal is an important step in increasing institutional ownership in Netmore, which will secure a stable financial ownership structure allowing for more aggressive international expansion.

“When building an international infrastructure platform aimed to change and streamline the industry, we have to be aware of what we specifically need to improve for future generations. With our clear ESG profile (Environmental, social, and governance) it is crucial that we can measure, control and therefore positively impact our infrastructure investments. At Polar Structure, we are proud to build nationwide IoT-networks together with Netmore, networks that will power both low and high-speed applications” says Tobias Emanuelsson, CEO of Polar Structure. He continues, “by being an owner, we will become a large buyer of sensors and also ensure that we are a part of creating innovative and environmentally friendly solutions for the Nordics, as well as international infrastructure later on. Polar Structure’s customers today are spread across Europe. We share Netmore’s ambition to expand in Europe, which feels both inspiring and fitting for our business strategyTobias Emanuelsson adds.

Together with Polar Structure we will reach our goal of offering a nationwide IoT-network available to all actors looking to streamline and digitalize their business through the data collection from sensors” says Netmore CEO Ove Anebygd. He continues,” Netmore is a pioneer in building and running private 5G networks in Europe, together with Polar Structure we can meet the increasing demand of 5G in properties and industries. The deal confirms our position as the market’s leading private network operator and it accelerates our national expansion while laying the foundation for international growth” Ove Anebygd adds.

Information regarding the convertible loan:

When looking at the possibility of entering into a partnership with Polar Structure AB, Netmore’s board of directors has looked at the capital needs of the company and decided to bypass existing shareholders preferential rights and instead direct a new share issue to Polar Structure AB in form of a convertible loan of 30 000 000 SEK. The term is 3 years with an annual interest rate of 5 percent. Polar Structure AB is given the right to convert the loan into B-shares in Netmore AB during the period starting October 1, 2022 until September 11, 2023 at a conversion price of 3 SEK a share. If the entire loan is converted during the period, Netmore AB’s equity could increase 1 000 000 SEK.

Netmore’s largest owner, Buildroid Invest AB, has meanwhile entered into an agreement with Polar Structure AB to act as a guarantor to guarantee the repayment of the convertible loan in case Polar Structure AB chooses not to convert it into Netmore AB B-shares. As compensation for this, Netmore and Buildroid have agreed a yearly payment of 2,5 percent of the total loan amount of which Buildroid acts as a guarantor. Netmore’s board of directors has in the process negotiating the convertible loan concluded that this agreement with Buildroid Invest AB is the best option for Netmore and its shareholders.  Further, the board has agreed that the total compensation available to Buildroid Invest AB will not exceed an amount that would require approval at a shareholder’s general meeting. Members of the Netmore board who also have an active interest in Buildroid Invest AB have not participated in the discussion and decision regarding the compensation in this matter.

For more information:

Ove Anebygd, CEO Netmore Group AB

+4670 519 57 98,

Tobias Emanuelsson, CEO Polar Structure AB

+4673 839 18 10,

This announcement was published yesterday, this is a translated version of the original in Swedish. The information was such information that Netmore Group AB was obliged to make public pursuant to EU Market Abuse Regulation. The information was released for public disclosure through the contact persons detailed above on 30 September 2020 at 21:00 CET.

About Polare Structure AB

Polar Structure AB is an ESG-platform for long-term ownership and management of infrastructure-related assets. We gather expertise and capital to create an efficient management organization where long-term and sustainability are in focus. By being initiators and founders of new companies in the infrastructure sphere, we can create, forge a culture and an approach that places high demands on business ethics and responsibilities.

This allows us to be well positioned and to be able to generate stable and recurrent returns and at the same time contribute to a more sustainable society.

About Netmore Group AB

Netmore Group AB is an IoT operator that enables comprehensive and dedicated solutions for cities, industries and properties and. Together with our partners, we build secure, reliable and sustainable communication networks and develop an ecosystem for the Internet of Things, locally, nationally and globally.

Netmore Group was formed in 2010 and since 2017 listed on the Nasdaq First North Growth Market.

G&W Fondkommission is the Company's Certified Adviser regarding the listing at Nasdaq First North Growth Market.

Tel: 08-503 000 50, e-mail:


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