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expansion<br />
<strong>unquote</strong><br />
for the transaction was provided by the SEK 180m ALMI Invest Västsverige fund. The investors were<br />
attracted to the deal because they believe the market is set to grow and that the company can fill a gap<br />
in the market. Support will be provided by the investors to enable Liveside to expand in the Swedish<br />
and Norwegian market.<br />
Company<br />
Liveside Event was founded in 2009 and is a supplier <strong>of</strong> equipment and materials for the events industry.<br />
Based in Arvika, the company has worked on a number <strong>of</strong> large events such as concerts.<br />
People<br />
Ulf Green worked on the deal for ALMI Invest.<br />
EXPANSION<br />
SEEC<br />
Location Stockholm<br />
Sector Renewable<br />
energy<br />
equipment<br />
Founded 2006<br />
STING invests in SEEC<br />
Transaction<br />
STING Capital has invested in SEEC, a company that develops, markets and sells energy stores with<br />
energy modules for large buildings.<br />
The value <strong>of</strong> the investment has not been disclosed. The deal originated after STING met with the<br />
company’s customers and listened to independent observers’ opinions <strong>of</strong> the products. SEEC has also<br />
been part <strong>of</strong> STING’s incubator since March 2010.<br />
The investment will enable the company to accelerate its expansion and strengthen its position in the<br />
market. SEEC is looking to grow both in the Swedish and export markets.<br />
Company<br />
SEEC was founded in 2006 and is a developer <strong>of</strong> energy stores with energy modules for large buildings.<br />
The technology is said to reduce energy costs by 90% by storing energy for heating and cooling under<br />
the ground. SEEC is headquartered in Stockholm.<br />
People<br />
Martin Gemvik is investment manager at STING Capital.<br />
NORWAY<br />
EXPANSION<br />
Havgul Clean Energy<br />
NOK 50m<br />
Location<br />
Sector<br />
Founded 2008<br />
Staff 5<br />
Oslo<br />
Renewable energy<br />
equipment<br />
Investinor et al. invest NOK 50m in Havgul<br />
Transaction<br />
Investinor has joined existing owner Sustainable Technologies Fund and founder Harald Dirdal to<br />
provide NOK 50m for Havgul Clean Energy AS.<br />
The deal was led by Investinor, who provided NOK 25m <strong>of</strong> the funding for the wind power project<br />
developer.<br />
The transaction originated after the company contacted Investinor about the opportunity for funding.<br />
An expanding market for renewable energy was said to be attractive for the investors. The <strong>latest</strong> funding<br />
will support further development <strong>of</strong> the company’s wind power projects and continued expansion into<br />
new markets.<br />
22 UNQUOTE JANUARY 11 ENTIRE CONTENTS COPYRIGHT 2010 INCISIVE MEDIA INVESTMENTS LTD<br />
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