Press release -
EQT Infrastructure and Nysnø become new owners of Torghatten
EQT Infrastructure and Nysnø Climate Investments are new owners of the transportation group Torghatten.
Torghatten is one of Norway’s largest transportation groups and operates routes for ferries, express boats, buses and flight traffic all across the country. The company will continue to work on its ambitious plans for green fleet renewal by investing in new technology. The air traffic segment will no longer be a part of the group, and the majority ownership in the Widerøe will be retained by Torghatten’s existing owners.
– Torghatten will invest in future-proof climate technologies for green transportation. Ferries, express boats and buses are critical infrastructures in Norway. Accessible, climate-friendly, safe and affordable public transportation is crucial in creating zero-emission societies. Nysnø invests in Torghatten to make this possible, says Eivind Egeland Olsen, Investment Director at Nysnø and adds:
– Our strategy is to make selected investments in forward-looking companies that utilise new climate technologies to complement our portfolio that mainly consists of earlier-stage technology companies.
Greener transport is crucial to achieve Norway’s climate goal of halving emissions by 2030. Ferries and buses are also well-suited for electrification. Estimates show that if ferries use more battery and hydrogen technologies and city buses become electric, emissions can be reduced by 2.4 million tons of CO2-eq from 2021 to 2030.
A greener maritime transportation industry will give Norway a global competitive advantage in maritime zero-emissions technologies. The maritime industry in Norway is already a global leader in the green transition. Now as the international shipping industry is looking to cut emissions, demand for such technologies and expertise will increase.
– Developing electric transport both on land and at sea, is strategically important for Norway. It stimulates activity along the coast, creates new opportunities, and builds know-how that is in global demand, says Siri Kalvig, CEO of Nysnø Climate Investments.
Torghatten has recently built the world's largest fully-electric car ferry for the crossing between Bastø and Fosen, ordered more than a hundred electric city buses for the city of Oslo, and is investing in autonomous electric ferries.
– Torghatten is a robust and well-run company that has already invested significant time, money, and effort into the green transition. The company is well-positioned to harvest its full potential and further accelerate this development, says Kalvig.
– EQT Infrastructure is looking forward to working with Nysnø in furthering Torghatten’s clear environmental profile and ambitious sustainability strategy. We believe Torghatten could spearhead low- and zero-emission solutions within ferry and bus transport. Our goal is to be an active owner in Torghatten and use EQT's financial strength, network, and extensive experience in transportation infrastructure to further profitable growth in the company, says Daniel Pérez, Partner of EQT Partners and Investment Adviser at EQT Infrastructure.
– EQT Infrastructure and Nysnø will be good owners for Torghatten and continue the company’s sustainability strategy. They will maintain the company's solid foundation and build on Torghatten's important societal role in cities and communities across Norway, says Roger Granheim, CEO of Torghatten.
Contact person: Siri Kalvig, CEO of Nysnø Climate Investments
e-mail: siri@nysnoinvest.no tel: +47 916 04 181
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About Nysnø Climate Investments
Established in 2017, Nysnø Climate Investments (Nysnø) is a Norwegian sovereign climate investor targeting companies and funds with profitable and smart solutions to address climate change. With 2.4 billion NOK in assets under management, Nysnø invests in clean energy, digital and enabling technologies, resource efficiency, sustainable societies, and the circular economy. Nysnø is based in Stavanger and owned by the Norwegian Ministry of Trade, Industry & Fisheries.
About Torghatten
Torghatten ASA is one of the country’s leading transport companies, with annual revenue of approximately NOK 10 billion and about 7000 employees. The company’s core business is within sea, land, and air transportation – distributed across ferries, speedboats, buses, and air traffic throughout Norway. The company operates a fleet of approximately 100 vessels, 1500 buses, and 43 planes.
About EQT
EQT is a purpose-driven global investment organization with more than EUR 84 billion in raised capital and over EUR 52 billion in assets under management across 17 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific, and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence, and market leadership.
