Climate Fund – €6 million capital loan to Infrakit for the development and commercialisation of sustainability functionalities for boosting emissions reductions in infrastructure building | Infrakit
Summary
The Finnish Climate Fund has decided on a capital loan of up to 6 million euros to Infrakit Group Oy for the development of sustainability functionalities in their data management service, as well as for boosting the softwares international deployment. The sectors annual emissions in Finland are approximately 1.4 Mt CO2eq, of which roughly 55% is generated by the fuel consumption of machinery and vehicles.Infrakit offers data management services for infrastructure projects, particularly for reducing the duration and costs of construction. Until now, we have been able to promise our customers savings of approximately 20% in overall infrastructure building costs by improving the efficiency of operations with our service. Our investment accelerates the growth of an emissions-reducing solution and enables the development of new sustainability functionalities, says CEO Paula Laine of the Climate Fund, shedding light on the reasons behind the investment decision.Infrakit Group Oy is a company established in 2010 that offers cloud-based data management services to infrastructure construction sites. The project targets markets both in Finland and abroad but Infrakit believes that most of its growth will be achieved abroad.The total investments in the companys growth and development plan in the next few years are estimated at 12.6 million, consisting of the Climate Funds capital loan, 5 million in equity funding from one of the companys current shareholders and grants from Business Finland and the Centre for Economic Development, Transport and the Environment.The Climate Funds capital loan of up to 6 million has a convertibles option and will be allocated to the development of an emissions-reducing functionality and the acceleration of the softwares international deployment.