Northzone Ventures buy stake in Climatewell
Nordstjernan Industriutveckling, a wholly-owned subsidiary to Nordstjernan, was a shareholder in the Swedish environmental technology company Climatewell. Now Skirner and Northzone Ventures are taking over the stake in Climatewell at a cost of SEK 100 million.
Climatewell has developed a unique technology that uses thermal energy from the sun for air conditioning. A large proportion of the world's electricity production is used to power conventional air conditioning for houses and offices. The company offers an environmental alternative with solar-run air conditioning. The company has offices and production facilities in Sweden and Spain.
Climatewell was also named Technology Pioneer at the World Economic Forum in Davos in spring 2007.
| Fund | Northzone V K/S Argentum share 11.43% |
| Portfolio Company | ClimateWell |
| Date of Transaction | 2008-02-20 |
| Transaction | Secondary transaction |
| Seller | Nordstjernan Industriutveckling |
| Buyer | Northzone V K/S |
| Size of Transaction | SEK 100.0m |
| Ind. Focus | Cleantech |
| Geography | Sweden |
| Stage | Venture |