Investment & Fund Management
which was guaranteed by the European Investment
Full Credential Description
Envigas, based in Skellefteå, Västerbotten County, Sweden, is a large-scale producer of biocarbon, aimed at facilitating the transition to a more environmentally friendly steel industry. The company faced the challenge of scaling its operations to meet the growing market demand for sustainable materials, particularly as industries seek to decarbonize. Envigas utilizes pyrolysis plants to convert organic residuals such as sawdust and wood shavings into biocarbon and energy, which can replace fossil fuels in metallurgical applications and contribute to significant reductions in CO2 emissions.
To support its growth and expansion, Envigas secured a loan from Norrlandsfonden, which was guaranteed by the European Investment Fund (EIF) through the European Guarantee Fund (EGF). This financial backing is crucial as the company aims to increase production volumes and explore new applications for biocarbon across various industries. The CEO, Lars-Gunnar Almryd, emphasized the importance of collaboration within the local ecosystem to drive sustainability initiatives, noting the burgeoning industrial activity in northern Sweden, particularly in the battery and green steel sectors.
As a result of this tailored financial solution, Envigas is positioned to enhance its production capabilities and contribute to the sustainability agenda, ultimately benefiting both the environment and the local economy. The company currently employs 20 people and is focused on building its competence in addressing the unique challenges of the biocarbon market.