Swedish Baseload Capital raises investment of USD 24 million to boost geothermal
Summary
We are happy that our partners are supporting us as we continue our fast-paced growth, says Baseload Capitals CEO Alexander Helling.This round of financing, amounting to USD 24 million, is one of the more substantial within the impact sector in Sweden. Together with a credit facility of USD 25 million secured in the spring, Baseload Capital has raised just over half a billion Swedish kronor this year. It will be a crucial piece of the puzzle when the world needs to rapidly switch to a sustainable energy supply, says Magnus Brandberg, Baseload Capitals Chairman of the Board, and co-founder of Gullsp\xe5ng Invest.Baseload Capital works closely with local affiliates to finance, plan and build facilities for extracting geothermal energy the heat stored in the Earths interior. In addition to base power the subsurface water can also be used to extract minerals such as lithium, creating an ecosystem of added benefits for the planet.The key to reaching net-zero emissions is innovation in new, sustainable energy production methods. The credit provides flexible financing for commissioning new geothermal power plants, while the new convertible loan is intended for Baseload Capitals continued expansion.