TM & Partners has assisted Cleantech startup Cinis Fertilizer
TM & Partners has assisted Cinis Fertilizer. In connection with the negotiation of long term agreements with Northvolt and the international fertilizer producer Van Iperen International, as well as with a pre-IPO fundraising.
Cinis Fertilizer is a Swedish Cleantech startup that has developed a patented technology for the production of the world’s most environmentally friendly mineral fertilizer. By recycling industrial waste products from the pulp and paper industry as well as the battery manufacturing industry. Requiring 50 percent less energy input through its production, Cinis Fertilizer will create a CO2 footprint 75 percent smaller than that of traditional fertilizers.
Circular product
For production and sale of its circular product, Cinis Fertilizer has recently entered into long term strategic agreements with battery cell supplier Northvolt for purchase of sodium sulphate salt to be recovered from the battery manufacturing processes, and with international fertilizer producer Van Iperen International which in an off-take agreement has committed to purchase Cinis Fertilizer’s entire yearly production of appr. 300,000 tonnes fertilizer during a ten year period.
For the financing of the commercialization of its products, the company has in October 2021 raised SEK 40 million in a pre-IPO financing round and intends to initiate preparations for an IPO on Nasdaq First North in 2022. In connection with the fundraising a new board of directors has been appointed where TM & Partners M&A partner Sten Hedbäck has been appointed board member, together with Anna Kinberg Batra (previous MP and leader of the Swedish conservative party Moderaterna), Viktoria Bergman (board member Vattenfall), Åsa Källenius (CFO Mekonomen) and Morgan Sadarangani (CEO Molindo Energy). Roger Johansson, EVP for the Roxtec business unit Marine & Offshore, continues as Chairman. The company’s founder and innovator Jakob Liedberg is CEO.
TM & Partners’ team working with the agreements has been led by:
- Natalie Bretz (Partner, Real Estate/Infrastructure)
- Karolina Kjellberg (Senior Associate, Tech)
- Catharina Danielsson (Associate, Real Estate)
- Johan Aronsson (Associate, Real Estate)
(M&A Partner Sten Hedbäck led the team working with the fundraising).
For press coverage, see the edition of Dagens Industri.
For press releases, see: Northvolts press release & Cinis Fertilizers press release.
