GERMAN FAMILY OFFICE - WERMUTH ASSET MANAGEMENT - INVESTS INTO PLAGAZI TO DRIVE ENVIRONMENTAL CHANGE
The investment involves equity from Wermuth’s second fund, the Green Growth Fund 2 (GGF2), with the aim to add additional capital from their upcoming Clean Industrialization Fund (GGF3), which aims to raise EUR 1bn to support the growth of their portfolio companies and their environmentally disruptive technologies, now including Plagazi.
Wermuth Asset Management GmbH (WAM) is a German single-family-office investment adviser and initiator of vehicles committed to investing with both high-risk-adjusted returns and a positive impact on the environment across all asset classes. Its principal, Jochen Wermuth, co-created the global www.divestinvest.org movement, with over $ 40 trillion in commitments to divest from fossil fuels and into climate solutions today.
Their GGF2 targets “exponential organizations”, those are best-in-class energy and resource-efficient companies in the EU that can grow exponentially with both economic and environmental impact. WAM sees itself as a company-builder, providing active support for its portfolio companies to grow globally. The portfolio is based in Europe, mainly in Germany, France, and the Nordics. It includes the expected future champions in the “Clean Industrial Revolution”, particularly in the energy and transport sectors.
“The views of WAM and their approach to environmentally beneficial investment opportunities go hand in hand with Plagazi’s vision and what our technology and product can achieve, which makes their investment into Plagazi a natural step for both parties. WAM pursue investments which have a strong financial potential as well as a strong drive to make an environmental difference on a large scale, and Plagazi are highly looking forward to cooperating with them to drive our mutual mission forward.” – Torsten Granberg, Chairman of the Board, Plagazi AB (publ)
“We are very excited about the opportunity to contribute to Plagazi’s growth. Plagazi can play a major role in providing hydrogen at a competitive cost to the EU economy. Plagazi’s waste-to-hydrogen technology shows incredible potential given its location- and feedstock-agnostic approach, and its roles as waste-recycler, hydrogen-producer, and carbon-capturer. We look very much forward to shaping the future of the European circular hydrogen economy together with Plagazi.” – Jochen Wermuth, Managing Director & Founder, Wermuth Asset Management
For further information, please contact:
Gustav Granberg, CEO Plagazi AB (publ)
Email: gustav.granberg@plagazi.com
Phone: +46 70 270 02 16
About Plagazi AB (publ):
Plagazi AB is a Swedish clean-tech company which is revolutionizing the production of green hydrogen. Plagazi helps society close the circular loop by transforming waste into green hydrogen through plasma gasification, contributing to resolve the significant global issue of non-recyclable waste, renewable energy sources and carbon emissions. With multiple active projects across Europe, the company aims to become the answer to the continents strive to reach its climate goals.
More Information:
Follow Plagazi on LinkedIn:
https://www.linkedin.com/company/plagazigreenhydrogrenfromwaste/
