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  3. Dignio

Empowering people by bringing healthcare home

Dignio at a glance

Dignio is a leading Norwegian health-tech company enabling municipalities and hospitals to deliver remote homecare through automatic medication dispensers (AMD) and remote patient monitoring software (RPM).

Dignio takes an integrated approach to home care, combining safe medication support with structured digital follow-up and clinical workflows in one platform (Dignio Prevent), helping healthcare providers standardise pathways, monitor patients proactively, and use scarce clinical capacity more efficiently.

With more than a decade of experience since its founding in 2012, Dignio is well positioned to support the ongoing shift from in-person, resource-intensive care to scalable home-based services. Dignio is headquartered in Oslo with additional presence in Sweden, Iceland, and Canada.

Year acquired
2026
Revenue
EUR 15m
Location
Norway
Employees
70
Investment theme
Tech-Enabled Resilience
SDG alignment

3, 8, 10, 16

The challenges we face:

  • ~4m

    healthcare worker shortfall expected by 2030 in Europe
  • 50%

    of people living in Europe with chronic conditions do not take medication as prescribed, which has been associated with 125 billion euros and 200,000 deaths in Europe annually

How does Dignio help?

  • Reality today

    Healthcare systems are under structural pressure from ageing populations, increasing chronic disease burden, and persistent workforce shortages, while expectations for quality, safety, and accessibility continue to rise. Care models are still often resource-intensive and dependent on in-person routines, creating avoidable visits, fragmented pathways, and capacity bottlenecks across municipal services and hospitals, ultimately contributing to worse patient outcomes when care is delayed, inconsistent, or otherwise inadequate.

  • Dignio approach

    Dignio enables providers to operationalize homecare by combining automatic medication dispensing with remote patient monitoring in an integrated platform. By supporting structured pathways, standardized workflows, and clear clinical prioritization, Dignio helps care teams shift routine follow-up out of institutions and into the home without compromising safety, allowing healthcare personnel to spend more time where it matters most while improving the patient experience through predictable and supportive follow-up.

  • Aspirational future

    In the long term, Dignio supports a healthcare model where home-based care is a natural extension of the clinical pathway, with proactive monitoring, earlier intervention, and higher adherence as standard practice. This enables better outcomes for patients, improved continuity across levels of care, and a more sustainable use of scarce clinical resources as demand continues to grow.

  • Who is impacted?

    Dignio impacts patients who benefit from safer medication routines and more accessible follow-up at home, particularly older and chronically ill people. It also supports relatives and caregivers through increased predictability and reassurance, while clinicians and care organizations benefit from reduced manual workload and improved capacity management across municipal and hospital services.

  • Contribution

    Dignio contributes to more sustainable healthcare delivery by enabling care closer to home, improving medication adherence and patient satisfaction, and lowering hospitalization rates for selected patient’s groups through remote monitoring and early identification of deterioration. By reducing avoidable utilization and enabling a more efficient allocation of clinical time, Dignio helps healthcare providers maintain quality while increasing access and resilience in the system.

  • Risks to impact

    As with most digital health solutions, impact depends on successful implementation and ongoing clinical ownership. Key risks include insufficient response capacity to alerts if workflows are not properly designed, the potential for reduced physical contact for a small subset of patients if not balanced by broader care plans, and the need to maintain robust data privacy and security as deployments scale.

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  3. Peoplesafe

A leading workforce safety provider in the UK, US, and Canada

Peoplesafe at a glance

Founded in 2001 and headquartered in the UK, Peoplesafe was set up to help the most vulnerable workers through innovation and reacting to emerging risks. Now operating across the US and Canada, it is one of the largest workforce safety technology providers in the world, protecting more than 350,000 people across every industry. Over the last 25 years, its market-leading platforms, technology, and service have been developed to protect everyone, wherever they are and whenever they need it. A purpose-built ARC (Alarm Receiving Central) facility in its UK headquarters ensures its ability to lead the market in delivering the fastest response times possible.

Year acquired
2026
Revenue
GBP 22.6m
Fiscal Year ending March ’25
Location
Epsom, UK
Employees
128
Investment theme
Tech-Enabled Resilience
SDG alignment

3, 8, 9, 16

The challenges we face:

  • 9%

    CAGR in violence since 2018 has left lone and frontline workers facing escalating safety threats as verbal abuse surges, often without rapid access to emergency support
  • 8m

    people (20%) in the UK work alone, with 25% having left a job due to safety concerns and 46% avoiding working late due to personal safety fears

How does Peoplesafe help?

  • Reality today

    Lone workers and frontline staff are facing growing threats in their day-to-day roles. From verbal abuse and harassment to physical assault and medical emergencies, the risks are increasing as people work alone, in isolated locations, or in unpredictable public-facing environments. This reality makes personal safety harder to guarantee and highlights the need for reliable, real-time protection – where help can be raised instantly, no matter where or when an incident occurs.

  • Peoplesafe approach

    Peoplesafe’s safety solutions link directly to its 24/7 Alarm Receiving Centre (ARC), where trained operators verify incidents and coordinate emergency response, typically twice as fast as calling 999. Products reduce the severity of incidents, increase workers’ sense of safety and strengthen employer duty-of-care.

  • Aspirational future

    In an aspirational future, lone and frontline workers can carry out their roles with confidence, knowing their safety is never compromised. Through intelligent, always-connected protection, help is immediate, risks are anticipated, and incidents are prevented before they escalate. Peoplesafe enables a world where everyone returns home safely, every day – empowering organisations to protect their people while building safer, more resilient work environments.

  • Who is impacted?

    Peoplesafe supports employers and organisations to protect their employees in their work environment. This helps keep lone and frontline workers safe in challenging or high-risk situations, enables employers to meet their duty of care with confidence, and supports communities by ensuring critical services can be delivered safely and reliably across a wide range of industries.

  • Contribution

    Peoplesafe enables employers and organisations to actively protect their employees through connected, real-time personal safety solutions. By providing immediate access to assistance, continuous monitoring, and actionable safety insights, reduce harm, and strengthen duty of care. This contributes to safer workplaces, lower risk exposure, reduced incident-related costs, and a stronger safety culture across organisations with lone and frontline workers.

  • Risks to impact

    Realised impact depends on continued high performance of Peoplesafe’s ARC and effective integration with local dispatch systems, ensuring that alerts are assessed and escalated rapidly to deliver accelerated response times. Separately, outcomes rely on sufficient capacity and appropriate responses from local emergency services once an incident is handed over. In addition, maintaining strong safeguards around data privacy and cybersecurity is critical to prevent misuse or unauthorised access to sensitive personal data.

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  3. NG Nordic

Pioneering Circularity

Company at a glance

By transforming waste into valuable resources and removing hazardous substances from circulation, we are avoiding emissions and protecting natural ecosystems. With a strong presence across the Nordics, and in Poland and the UK, we operate through 90 processing facilities and sites, managing around 4.4 million tons of waste annually. We are a vital part of the Nordic industrial infrastructure, now generating EUR 1.2bn in revenue with a team of ~3,400 employees.

Year acquired
2018
Revenue
EUR 1.310bn
Location
Europe
Employees
2421
Investment theme
Circularity
SDG alignment

11, 12, 13

What are the challenges NG Nordic addresses?

  • only 40%

    of total waste generated in Europe is currently recycled
  • 119m

    tonnes of hazardous waste generated in Europe in 2022 requesting proper treatment and depollution

How does NG Nordic help?

  • Reality today

    Current materials system accounts for ~1/3 of global CO2 emissions, causing damage to our biodiversity and exhausting our natural resources at an unsustainable rate.

  • NG approach

    NG is a critical player for the European material system transition – handling ~2 million mt waste, scaling access to circular raw materials through reuse, collection, recycling and depollution, while being 77% Taxonomy-aligned.

  • Aspirational future

    A circular economy and materials system where waste is treated as a valuable resource and raw material, with depollution processes implemented to remove contaminants and pollutants from these waste streams, ensuring the recovered materials are safe and suitable for reuse.

  • Who is impacted?

    NG serves more than +40k industrial, commercial and municipal customers, helping to reduce negative impact on the environment from natural resource extraction by enabling access to recycled materials and reducing their GHG emissions.

  • Contribution

    NG effectively treats ~2 million mt waste, contributing to the decrease of CO2 emissions and the need for extraction of virgin raw materials. With 77% taxonomy alignment, NG demonstrates contribution to climate change mitigation, pollution prevention, and the transition to a circular economy.

  • Risks to impact

    Health and safety is a top priority for NG, due to the inherent risks related to working with heavy machinery, vehicles and hazardous waste treatment. In addition, NG’s activities entail an inherent risk of environmental harm in the form of air, soil, or water pollution.

KPI reporting*

Waste handled (tonnes)

Target 2025: 3 million tonnes

Change from '23-'24: -4%

2024
1,938,296
2023
2,024,777
2022
2,286,738

Tonnes of waste tracked and traced through the value chain, ensuring transparent and accountable waste management. Reduction due to market conditions, however a 57% recycling/material recovery rate was maintained despite volume and composition changes.

Avoided emissions (tonnes CO2e)

Change from '23-'24: -6%

2024
1,375,794
2023
1,458,077
2022
1,322,409

Reduction in GHG emissions associated with a particular NG solution compared to a reference solution. Avoided emissions reduced disproportionately due to a decrease in recyclable metals and increased hazardous waste landfilling.

Number of high-risk value chain audits

Target 2027: 50

Change from '23-'24: +17%

2024
41
2023
35
2022
30

Value chain audits ensure a responsible and compliant value chain by tracking number of audits of high-risk partners.

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  3. EA Technology

Enabling the energy transition through a smarter grid

EA Technology at a glance

EA Technology is a leading solutions provider for monitoring and management of electrical grids and assets. The company’s industry-leading product suite comprising hardware, software and services promotes the development of decarbonized, resilient, accessible, low-cost energy networks globally.

EA Technology originated in 1966 as a ground-breaking research and development organisation serving the UK electricity industry and today serves a global customer base across five regional offices in the UK, US, Australia, Singapore, and China.

Year acquired
2024
Revenue
EUR 56m
Fiscal Year ending March ’24
Location
Chester, UK
Employees
302
Investment theme
Energy Transition
SDG alignment

7, 9

The challenges we face:

  • 1.6TW

    of EU renewable electricity ­projects in grid connection queues
  • 5-8%

    average annual energy supply loss across UK distribution networks due to outages/interruptions, distribution losses, demand variability and renewable intermittency

How does EA Technology help?

  • Reality today

    Electricity demand is set to double by 2050 and supply infrastructure to structurally change driven by electrification. The phasing in of solar, wind, electric vehicles and heat pumps are integral to drive reduced emissions and will have implications on energy infrastructure and electrical grids.

  • EA Technology approach

    EA Technology’s solutions enable electrification and renewable power connectivity by improving the availability, reliability, and cost of operating grids through real-time network visibility, pre-fault detection, and predictive maintenance.

  • Aspirational future

    EA Technology’s mission is to promote the global development of resilient, accessible, low-cost energy networks capable of supporting a decarbonized energy system.

  • Who is impacted?

    EA Technology supports network operators and large C&I customers to safeguard power networks, benefiting end customers, asset owners, communities, and the environment by increasing grid resilience, avoiding outages, and optimizing asset performance and lifespan.

  • Contribution

    EA Technology enables electricity grid operators to modernize their infrastructure to support an electrified, renewables-based system. EA Technology’s tools enable faster adoption of renewable energy sources, lower frequency of network interruptions/failures and decreased capital expenses and operational costs.

  • Risks to impact

    Given the mission-critical nature of EA Technology’s products, any operational issues could have localized adverse impact on the status and reliability of electricity grids.

KPI reporting

Number of homes monitored, unlocking grid capacity

Target 2027: 9,800,000

2024
4,900,000
2023
0N/A
2022
0N/A

EA Technology’s solution provides detailed data on network quality and capacity, enabling grid operators to get more out of existing assets, increasing their ability to deliver cost-effective decarbonization.

Reduced power outage time for consumers (minutes)

Target 2027: 30,630,000

2024
12,450,000
2023
0N/A
2022
0N/A

EA Technology devices automate power restoration, shortening outages and ensuring a reliable grid. This is crucial as corporates, heavy industry and households increasingly rely on electricity for energy consumption, heating and cooling as well as transport.

Homes and businesses covered by VisNet Connect

Target 2027: 35,000,000

2024
24,700,000
2023
0N/A
2022
0N/A

Number of homes and businesses served by DNOs1 using VisNet Connect. The software helps accelerate grid decarbonization by automating new grid connection requests for low carbon technology.

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  3. Bollegraaf

Leading turnkey waste sorting solutions provider

Bollegraaf at a glance

Bollegraaf Group has a mission to design and manufacture recycling and sorting systems that take care of the environment, improve people’s quality of life and health through meaningful innovation, and the sustainable use of the planet’s limited resources

Bollegraaf is a leading turnkey sorting solutions provider in Europe and North America, enabling waste management companies and public authorities to efficiently improve their sorting & recycling processes and driving the shift towards a more circular economy. Bollegraaf’s offering covers all major waste streams and sorting applications with strong project management and engineering capabilities and a high share of differentiated in-house manufactured products, such as their Balers, Screeners and AI/Robotics driven technologies.

Year acquired
2024
Revenue
EUR 185m
Location
The Netherlands
Employees
~450
Investment theme
Circularity
SDG alignment

11, 12, 13

The challenges we face:

  • 21%

    of waste volumes in Europe are disposed at landfills, a practice deemed as the least preferable solution
  • ~50%

    of waste volumes in the US are going to landfills, indicating it is lagging further behind

How does Bollegraaf help?

  • Reality today

    CO2 emissions from the materials system make up 1/3 of global emissions, harming biodiversity and depleting resources. The EU deems landfilling least preferable and is currently drafting stricter regulations. Waste-to-resource efforts are hindered by low volume, poor feedstock quality, and insufficient recycling capacity.

  • Bollegraaf approach

    With 60+ years of expertise and 4,000+ systems installed globally, including 17 large MRFs, Bollegraaf enhances waste sorting and recycling capabilities and capacity globally. Their solutions further enable secondary raw material production and reduce landfill and incineration waste.

  • Aspirational future

    A world where waste becomes a vital resource, fuelling a sustainable circular economy. In this future, we have lessened our reliance on depleting virgin materials and resource resilience is enabled, ultimately paving the way for more resilient infrastructure and planetary health.

  • Who is impacted?

    Bollegraaf enables waste producers, material producers, consumers and society to benefit from proper waste treatment, incorporating recycled materials into manufacturing, and using circular resources. This reduces the need for virgin materials and lowers emissions.

  • Contribution

    Bollegraaf’s top-tier equipment, focus on innovation and service enhance waste treatment efficiency and purity, aiding material producers in using recycled waste and complying with ever-changing legislation. This reduces landfill waste and emissions, accelerating the shift to a circular economy. For waste management companies, Bollegraaf plants enable higher recovery rates, as well as lower energy usage, higher uptime and lower maintenance costs.

  • Risks to impact

    Sorting and recycling equipment must be carefully chosen to optimize cost, yield, and output purity per waste fraction. Additionally, proper treatment of water discharge, air emissions, and other pollutants must be monitored in the sorting plant.

KPI reporting

Complete waste sorting installations delivered

2024
10
2023
0N/A
2022
0N/A

Completed installations of Bollegraaf’s waste sorting systems, indicating successful project delivery and operational capacity expansion. Excludes retrofits, modifications, and separately sold machines.

Annual waste processing capacity of installations (tonnes/year)

Target 2029: 1,7m

2024
1m
2023
0N/A
2022
0N/A

Total tonnes of waste processed annually by Bollegraaf’s installed systems, measuring operational scale and impact.

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  3. Nutris

Leading plant-based proteins provider

Nutris at a glance

Nutris is a manufacturer of high-quality plant-based ingredients extracted from fava beans, yellow peas and potatoes which are sourced from local farmers and processed via a patented technology.

The company is headquartered in Zagreb, Croatia and the production facility located in Novi Senkovac, just a two-hour drive away from Zagreb. The Nutris’ products, which include high-quality protein isolates, starch, and fiber, are exported to markets in the EU, North America and Asia.

Together with the R&D unit Bioptimate located in Copenhagen, Denmark, Nutris forms an investment platform within plant-based proteins. The strategic intent is to further expand the platform, through both organic and acquisitive growth.

Year acquired
2024
Revenue
EUR 6.8m
Location
Croatia and Denmark
Employees
77
Investment theme
Sustainable Food
SDG alignment

12, 13

What are the challenges Nutris addresses

  • 26%

    of GHG emissions stem from the global food system
  • 60-70%

    of EU soils are degraded due to unsustainable land management

How does Nutris help?

  • Reality today

    Agriculture is the backbone of our global food systems, providing the raw materials for everything we eat. However, current agriculture is at a critical juncture, facing its own sustainability-related challenges that must be solved to offer a more sustainable and regenerative solution for the future.

  • Nutris approach

    Nutris demonstrates large-scale regenerative agriculture with cost-neutral transitions. Seeds are treated and precisely applied with biostimulants and micronutrients, reducing synthetic inputs over time. Recognizing the need for gradual change, Nutris also offers equipment modifications to minimize tillage.

  • Aspirational future

    A responsible food system safeguards ecosystems through healthy soils and biodiversity while ensuring global access to nutritious diets. For farmers, this means a future of sustainable and profitable practices, ultimately providing consumers with nutritious, lower-carbon food that meets global needs.

  • Who is impacted?

    Farmers can produce food in a more sustainable and profitable way, and consumers can access more nutritious, lower-carbon food that meet global food needs.

  • Contribution

    Fava beans have the lowest CO₂ footprint of all plant-based proteins (e.g., >95% lower compared to whey protein). Moreover, Nutris showcases the effectiveness of regenerative practices. These methods improve overall soil health and ultimately contribute to ecosystem health and farm profitability.

  • Risks to impact

    Transitioning to regenerative farming as well as fava bean production involves risks like knowledge gaps, market access, as well as limited research and data.

KPI reporting

Locally produced hectares

Target 2028: 15,000

2024
6,283
2023
0N/A
2022
0N/A

Hectares of locally sourced fava beans cultivated for Nutris production.

Share of hectares with regenerative farming practices

Target 2028: 40%

2024
15%
2023
0N/A
2022
0N/A

Proportion of farmed land (hectares) implementing regenerative farming practices

Tonnes of fava bean ingredients sold (mt)

Target 2028: 40,000

2024
6,438
2023
0N/A
2022
0N/A

Total volume (mt) of fava bean ingredients sold, indicating market demand.

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  3. guardsix

Streamlined and converged cyber security

guardsix at a glance

guardsix is a European cybersecurity company headquartered in Copenhagen, Denmark, providing a sovereign security operations platform for MSSPs and regulated organisations. Its unified platform combines SIEM, NDR, SOAR and fleet management capabilities to help organisations achieve audit readiness, detect advanced threats and scale security operations with confidence. guardsix serves customers globally and maintains the recognised  SOC 2 Type II attestation.

Year acquired
2023
Revenue
EUR 24m
Location
Denmark
Employees
254
Investment theme
Tech-Enabled Resilience
SDG alignment

8, 9, 16

What are the challenges guardsix addresses

  • 277

    days to detect and respond to data breach
  • 90%

    of European critical industry actors have experienced at least one cybersecurity attack in the past two years

How does guardsix help?

  • Reality today

    The global community faces ever more frequent and severe cyberattacks (breaches, extortions, fraud etc.), causing harms that range from the illicit gains obtained by perpetrators, to the disclosure of private and confidential information and the denial of essential services on which many depend for their health, safety and livelihoods.

  • guardsix approach

    guardsix enhances security by collecting and analyzing log data to detect suspicious activity, identify compromised systems, and enable rapid incident response. It also supports compliance through log retention, improves operational efficiency, and helps unify and streamline security operations to stay ahead of evolving threats.

  • Aspirational future

    A world where all governments, critical infrastructure companies, SMEs and large corporations are adequately equipped for resilience and rapid response to cyber security threats and incidents, and negative impacts on society are minimized.

  • Who is impacted?

    guardsix empowers governments, institutions, companies, and individuals to proactively defend against escalating cyber threats, mitigating significant economic losses and safeguarding critical services for those at risk of data theft.

  • Contribution

    guardsix contributes to the prevention of cyber-crime by offering the highest level of SIEM certification. In addition, guardsix uniquely enables SMEs that are exposed and increasingly vulnerable to implement protection against cyber-attacks, which is important to general cyber security as the coverage of SMEs bolsters security through network effects.

  • Risks to impact

    Risks of guardsix not delivering the desired impact include less usage of the platform, stagnating growth in new customers and technological complications. guardsix manages sensitive data. As such, data privacy and security are of paramount importance and must be safeguarded.

KPI reporting

Protected nodes (avg. per month)

Target 2028: 1 million

Change from '23-'24: +88

2024
593,335
2023
314,964
2022
169,613

A higher average of protected nodes indicates broader security coverage and stronger defense against cyber threats, effectively demonstrating the reach and effectiveness of guardsix solutions.

Clients in critical industries (avg. per month)

Change from '23-'24: +8

2024
324
2023
301
2022
297

Average of protected clients in critical industries signifies stronger defense of vital sectors against cyber threats, effectively demonstrating guardsix’ impact on safeguarding essential services.

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  3. Velsera

Unites companies from healthcare and life sciences

Velsera at a glance

Velsera is a consolidation of three leading companies within digital diagnostics, bio­informatics, healthcare data and advanced analytics enabling better healthcare, diagnostics, and precision medicine. It unites Seven Bridges, Pierian and UgenTec to advance and accelerate the work of both domains. All companies remain actively engaged with existing customers, enhance current offerings, accelerate new offerings, and bring integrated solutions to market as leading providers of global omics and insights.

Year acquired
2022
Revenue
EUR 36m
Location
Boston
Employees
428
Investment theme
Changing Demographics
SDG alignment

3

What are the challenges Velsera addresses

  • 97%

    of global healthcare data generated annually goes unused in siloed systems and clinical workflows, hindering advancement of AI in the secto
  • 90%

    of clinical drug ­development fails

How does Velsera help?

  • Reality today

    Medicine moves too slow. The rapid pace of innovation in technology is not translating into acceleration of precision medicine. Too much time is wasted de-siloing and harmonizing multi-omic data, rather than analyzing and deriving insights.

  • Velsera approach

    Velsera bridges the gap between clinical and discovery by solving fundamental challenges in data assembly and reporting. The company provides integrated software and expert services to transform the dry lab workflow, enabling seamless multi-omic data identification, ingestion, secure patient data management, and analysis.

  • Aspirational future

    A connected data ecosystem revealing the true promise of precision medicine — a continuous flow of knowledge between researchers, scientists, and clinicians around the world, creating insights that radically improve human health.

  • Who is impacted?

    Velsera empowers clinical diagnostic labs, next-generation sequencing assay and equipment manufacturers, biotech and pharma, and non-profit/government agencies to make breakthroughs in precision medicine—ultimately improving patient outcomes.

  • Contribution

    Velsera drives R&D productivity and patient outcomes by accelerating innovation, improving workforce efficiency, and reducing cost of data and technology—helping to get the right medicine, to the right patient, in the fastest possible time.

  • Risks to impact

    This is a nascent and emerging space with constantly changing customer, competitor, and regulatory dynamics. Velsera is developing differentiated multi-omic capabilities and expertise to navigate the complex global environment and scale impact quickly .

KPI reporting

Cumulative reports, including patient reports created

Target 2028: 500,000

Change from '23-'24: 48%

2024
215k
2023
143k
2022
81k

Patient impact includes the 500,000+ multi-omic reports generated for patient care, assay validation, and clinical trials

Top pharma companies leveraging Velsera software and services to accelerate drug discovery

Target 2028: 10/10

2024
7 of 10
2023
8 of 10
2022
0N/A

Demonstrates Velsera’s commitment to supporting the leaders in the industry who use Velsera’s software and expert services to accelerate drug discovery

Number of researchers supported by Velsera platforms

Target 2028: 100,000

Change from '23-'24: 12%

2024
28k
2023
25k
2022
0N/A

Number of researchers using Velsera platforms to accelerate drug discovery and development, indicating Velsera’s contribution to ecosystem enablement

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  3. Holdbart

Norway’s leading retailer of surplus food items

Holdbart at a glance

Holdbart is Norway’s leading retailer of surplus food items, saving excess products which suppliers are unable to sell to conventional grocery chains and retail outlets. Products that are discontinued, overstocked, nearing their expiry date, or have old or faulty labels can be sold in Holdbart’s physical stores or on their website, offered at an up to 90% discount compared to their original prices.

Year acquired
2021
Revenue
EUR 72m
Location
Norway
Employees
397
Investment theme
Sustainable Food
SDG alignment

1,2,12

What are the challenges Holdbart addresses

  • 450k

    tonnes of food wasted in Norway in 2021
  • 1.3m

    of CO2e emissions from food waste in Norway in 2021

How does Holdbart help?

  • Reality today

    Our food value chain is inefficient, with unnecessary waste from surplus food products due to overproduction, seasonal products, campaigns, and faulty items.

  • Holdbart approach

    Holdbart purchases surplus food items and through its physical retail stores ensures access to affordable food items that would otherwise go to waste.

  • Aspirational future

    A less wasteful, more circular food system that supports access to affordable food.

  • Who is impacted?

    Producers, importers, and wholesalers gain a practical distribution channel for food that otherwise would have been wasted. Consumers across regions in Norway, including lower-income individuals and families, get a more affordable and sustainable shopping basket.

  • Contribution

    Holdbart contributes to significant decrease of food waste by selling food and retail products that would otherwise go to waste.

  • Risks to impact

    Holdbart has limited control of the operations of its suppliers, as well as consumers’ use of the products it sells and product end-of-life.

KPI reporting

Tons of food saved

Target 2027: 18,000 tonnes

Change from '23-'24: -9%

2024
13,746
2023
15,094
2022
11,292

Measures the quantity of food that has been diverted from waste and saved for consumption or use.

Potentially avoided emissions (tCO2e) from food saved

Target 2027: 70,000 tCO2e

Change from '23-'24: -9%

2024
37,117
2023
40,754
2022
30,487

Measures the environmental impact of reducing food waste, specifically in terms of emissions.

Number of shopping carts

Target 2024: 2,900,000

Change from '23-'24: +18%

2024
3m
2023
2m
2022
2m

Represents the environmental, social, and economic benefits from purchasing products from a surplus food retailer such as Holdbart.

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  3. Nofitech

Land-based facilities and equipment to blue chip salmon farmers

Nofitech at a glance

Nofitech provides land-based facilities and equipment to blue-chip salmon farmers. Its primary offering today is a recirculating aquaculture system (“RAS”), ModulRAS, which allows fish farmers to move parts of the fish’s growth cycle onto land, and offers facilities for the final growth stage, providing fish farmers with the option to locate all production on land.

Year acquired
2021
Revenue
EUR 55m
Location
Norway
Employees
98
Investment theme
Sustainable Food
SDG alignement

2, 12, 14

What are the challenges Nofitech addresses

  • 60%

    estimated increase in food production needed between 2010 and 2050 to feed a growing population
  • 50%

    emission reduction potential in moving from traditional net-pen farming to land-based systems

How does Nofitech help?

  • Reality today

    Traditional aquaculture at sea has certain negative impact on life below water, both on the marine habitat and the fish themselves (e.g., disease and lice), and this is regulated by quotas that limits the organic growth in sea-based farming.

  • Nofitech approach

    Nofitech moves parts of, or the entire, growth cycle of fish farming onto land, reducing the pressures from sea-based farming on the ecosystem and enabling fish farmers to increase overall production.

  • Aspirational future

    An efficient and sustainable aquaculture system that supports consumers with access to more sustainable proteins.

  • Who is impacted?

    Salmon farmers in the North Sea Basin gain access to a more environmentally friendly production system. The compact and modular facilities improve resource use and can better protect ocean biodiversity by reducing habitat impact and potential pollution.

  • Contribution

    Nofitech’s land-based systems provide a cost-effective method for growing post-smolt. More importantly, this approach eliminates the environmental damage to oceans caused by traditional salmon farming, offering a more sustainable advantage.

  • Risks to impact

    While RAS systems have benefits to the marine environment, potential risks to consider involve their impact on local biodiversity and water resources, logistical challenges, regulatory uncertainties, economic viability, and infrastructure demands.

KPI reporting

kg CO2e/m3 concrete for one 20m ModulRAS

Target 2027: 14,364

Change from '23-'24: 0%

2024
17,950
2023
17,950
2022
17,955

kg CO2e/m3 concrete tracks the emissions associated with the use of concrete during the construction phase of Nofitech’s ModulRAS systems.

kg CO2e/m3 steel reinforcement for one 20m ModulRAS

Target 2027: 595

Change from '23-'24: 0%

2024
744
2023
744
2022
744

kg CO2e/m3 reinforcement” tracks the emissions associated with the use of steel during the construction phase of Nofitech’s ModulRAS systems.

Land-based modules delivered

Target 2030: 50

Change from '23-'24: 42%

2024
27
2023
19
2022
11

The number of Nofitech’s modular, land-based fish farming systems that have been supplied to customers.