Pioneering Circularity

NG Group at a glance

NG Group (“NG”) is a leading Nordic provider of circular solutions, driving the shift towards a circular economy. NG controls and manages a critical part of the Nordic waste management infrastructure through a large modern asset base. With a leading service offering covering the whole waste value chain, NG aims to be the pioneer in circular as well as clean energy solutions. NG serves >40k commercial and municipal customers, handling 2m tonnes of waste during 2023. 55% of this was sent to recycling and material recovery, 41% to energy recovery and only 4% was landfilled.

Year acquired



Circular Economy


EUR 751 m





Investment themes

Resource Efficiency

Key developments in 2023

In 2023, NG continued its strong trajectory, growing revenues by 3% and increasing operational control through its operational excellence program. Further, a strategic review led to a restructuring into 6 strategic platforms, providing clear focus and accelerating growth.

The closure of “Summa Circular” in November allows for continued Summa ownership, supporting NG's transition from an asset recycling company to a circular infra player. NG also advanced its sustainability commitments, launching its first TCFD report and converting its debt package to a sustainability-linked loan.

What are the challenges NG Group addresses


tonnes of waste generated
in Norway in 2022


of the waste generated in Norway is not recovered as materials

How does NG Group 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 Group approach

NG Group is a critical player for the Nordic material system transition – handling ~ 2 mt waste at ~55% recycling and material recovery rate (market at 36%) through a combination of upstream waste control and downstream recycling innovation – delivering crucial waste mgmt. services and infrastructure.

Aspirational future

A circular economy and materials system where waste is a valuable resource and raw material.

Who is impacted?

NG Group serves more than 40k 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.


NG Group effectively treats 2 million tonnes of waste, contributing to the decrease of CO2 emissions and the need for extraction of virgin raw materials.


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

SDG alignments

SDG 11
SDG 12
SDG 13

KPI reporting

Revenue (EURm)


Change from '22-'23: 3%

Waste handled (tonnes)

Target 2025: 3 million tonnes

Change from '22-'23: -11%

Waste handled is the tonnes of waste tracked and traced through the value chain, ensuring transparent and accountable waste management

Number of value chain audits

Target 2027: 50

Change from '22-'23: 17%

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

Potentially avoided emissions (tonnes CO2e)



Potentially avoided emissions refer to the reduction in GHG emissions associated with a particular NG Group solution compared to a reference solution.