Vinga Group has signed an agreement with its existing client WA3RM for a long-term financing partnership. The agreement covers the future financing of WA3RM's upcoming projects, including two large-scale greenhouse initiatives in Scandinavia, with a total financing framework of up to SEK 11.5 billion (US$1.04B).
Through this financing partnership, Navigo Invest's subsidiary Vinga will primarily act as the financing coordinator for a total of three new WA3RM projects.
The new financing agreement includes WA3RM's circular development projects in Östersund, Sweden, and Varde, Denmark, where plans involve building large greenhouses that utilize waste heat from nearby data centers for large-scale vegetable production. The financing collaboration with Vinga is aimed at the construction phases of these projects.
Jacques Ejlerskov, CEO of WA3RM said: "We are very pleased to continue working with Vinga on financing solutions for our upcoming projects in Scandinavia. Developing circular industrial projects is a complex team effort, and we are delighted to have Vinga alongside us in this work."
Tom Olander, CEO of Vinga Group commented: "We are proud of the continued mandate to contribute financing to the company's projects. This partnership marks a milestone in our efforts to provide Nordic growth companies with access to sustainable financing."
The financing partnership agreement spans four years, allowing Vinga to coordinate financing for the three projects. All financing solutions are subject to Vinga's customary internal credit assessments. The projects are in various stages, with a significant portion of the project portfolio currently in very early phases, subject to uncertainties such as building permit approvals and typical project risks.
For more information:
Vinga Group
vingagroup.com/
WA3RM
wa3rm.com