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Mirova led a €28m Series C funding round in Norsepower.

Financials

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Transaction Value£24m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Private

Finland

Venture Capital

Friendly

Completed

mechanical sails

Minority

Marine Transportation

Private Equity

Acquisition

Cross Border

Synopsis

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Mirova, an investment manager, led a €28m Series C funding round in Norsepower, a provider of mechanical sails for large ships, with participation from Ilmastorahasto, OGCI Climate Investments, Nefco, Tesi and Power Fund III. “With this first investment outside of France, the Mirova Environment Acceleration Capital Fund goes one step further to accelerate the scaling of innovative environmental solutions with positive impact. We are thrilled to support Norsepower in their journey to empower the shipping industry towards reaching the goal of zero carbon emissions, and together play an active role in the environmental transition,” Youssef Belatar, Mirova Investment Director.

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