Swedish climate-tech company Nordbex AB has announced that it has appointed Nordic financial major Swedbank/SpareBank1 Markets (Swedbank) as strategic financial advisor to support the rollout of purpose-built plants to replace and decarbonise aging municipal combined heat and power (CHP) plants in the Nordic region.
Nordbex develops and operates carbon-negative, greenfield combined heat and power (CHP) plants, designed to generate up to 200,000 tonnes of biogenic carbon dioxide (bioCO₂) per annum per site—ready for permanent carbon capture and storage or utilization.
Swedbank Group is a leading Nordic bank operating in Sweden, Estonia, Latvia, and Lithuania, and has a presence in all Nordic countries, the United States, and China.
Swedbank is also entering a new partnership with SpareBank 1 to create SB1 Markets, a leading Nordic investment bank, which will broaden the Group’s equity research and sales, increase sector competence, and strengthen its ability to serve clients in the Nordic region.
Raise capital for Nordbex 1 – Nybro
As a first step, the parties will collaborate on a capital raise to fund Nordbex’s flagship facility, Nordbex 1 – Nybro, where Swedbank will act as sole financial advisor and bookrunner across the debt and equity raise.
The agreement also establishes the basis for continued partnership on financing additional Nordbex plants in the future.
The Nordbex 1 – Nybro Bio-CCUS facility marks a pivotal step in our effort to offer a scalable, carbon-negative Bio-CCUS platform to the Nordic CHP sector. We are excited to work with Swedbank not only on this project, but on a long-term journey to deliver multiple plants and systemic impact, said Thomas Öström, CEO of Nordbex.
Swedbank will provide full advisory services, including investor engagement, transaction structuring, and strategic documentation support, with a shared long-term commitment to the Nordbex platform.
