Cleantech Invest increases its ownership in fast growing Nocart

Releases

Cleantech Invest Oyj
Company release 22.9.2015, 9:00 (EET)

Cleantech Invest has increased its ownership in portfolio company Nocart to 20% from 15.5%.

Nocart delivers power management units for distributed and renewable energy generation. It enables the use of several different energy sources at high efficiency rate. Nocart’s product can be used for electricity production from solar, wind and biomass, as well as small-scale hydroelectric generation. It is used both for connecting installations to the grid and for complete off-grid installations to become independent of the grid. Nocart is a system supplier whose deliveries combine technologies from also other companies.

The company has been able to grow profitably. Last year’s revenues tripled to just less than 1 MEUR. During the first half of 2015 order intake was 7.4 MEUR, with deliveries for 2015 of about 4.5 MEUR.

Alexander Lidgren, Managing Director at Cleantech Invest: “Distributed Electricity generation is an explosively growing business globally and Nocart has superb products right to the core of this market. They have delivered 50 power plants and are already showing a positive result. The company also has a very strong order back log for the next year that indicates continued increasing performance.”

Vesa Korhonen, Managing Director at Nocart: “We welcome Cleantech Invest increasing its ownership in Nocart at this point. We have an offer base of approximately 400 MEUR, and believe we will show significant growth in the coming years”

For more information
Alexander Lidgren, Managing Director of Cleantech Invest Plc, tel. +46 73 660 1007,
alexander.lidgren@cleantechinvest.com

Certified Advisor Access Partners Oy, tel. +358 9 682 9500.

Cleantech Invest in brief
Cleantech Invest focuses on clean energy and efficient use of natural resources. The company has minority ownerships in a diversified portfolio of companies and is actively looking for new capital light and high impact businesses within the cleantech universe. Cleantech Invest invests in the most promising early-stage and growth cleantech companies in Finland, Sweden and in the Baltic Sea area. The company management team members are international pioneers in cleantech investing. Cleantech Invest is also a designated Accelerator in the Vigo Program initiated by the Ministry of Employment and the Economy. www.cleantechinvest.com.