Taaleri’s associated company Fintoil secured EUR 80 million senior debt package and reached financial close of its biorefinery investment - Seite 2

The new biorefinery accelerates efforts by Finland and the EU to reach carbon neutrality as the CO2 footprint of CTO derivatives is up to 90% lower than its fossil alternatives. Crude tall oil is classified as a sustainable feedstock for advanced biofuels in the EU’s Renewable Energy Directive. Fintoil’s production is projected to enable reduction of CO2 emissions of up to 400,000 tonnes annually equaling to roughly one percent of Finland’s total net emissions. Fintoil aims at CO2 free production process as the world’s first CTO biorefinery by 2027.

Fintoil’s CEO Jukka Ravaska says: “With the completion of the senior debt financing package our biorefinery investment in Hamina is now fully financed and the company has also secured its working capital financing. I would like to thank all the investors for their vote of confidence and Finnvera for their underwriting which made the bond issue successful. We are now happy to be able to focus all our efforts on completing the biorefinery investment. The construction project, commenced in February, has progressed without delays or budget overruns. We are confident that our CTO refinery will start up as scheduled in July 2022.”

Taaleri Kapitaali’s Managing Director Vesa Heikkilä says: “Our multi-year mandate to arrange Fintoil’s financing has now been successfully completed. In the past three years, the financing of the investment project has been enabled by a group of Finnish family offices as well as selected institutional and private investors as Taaleri’s co-investors. We are happy that the senior debt financing package attracted also Nordic institutional investors. I believe this is a sign of not only increasing interest towards impact investing but also that combating climate change and the green transition can open profitable and interesting business opportunities for investors.”

Additional information:

Jukka Ravaska, CEO, Fintoil Oy, [phone], [e-mail]
Vesa Heikkilä, Managing Director, Taaleri Kapitaali Oy, [phone], [e-mail]

Information about Fintoil

Fintoil was founded in 2017 to focus on the refining of Crude Tall Oil. FIntoil’s founders and key persons have decades of experience from Crude Tall Oil investments and businesses. Fintoil’s largest shareholder with its 27.4% ownership is Taaleri Investments Ltd, which manages Taaleri Group’s own investments. Other shareholders include Taaleri’s Finnish co-investors, founders and management.

Taaleri in brief

Taaleri is a Nordic investment and asset manager with an emphasis on renewable energy and other alternative investments. We channel capital towards economically profitable undertakings that have a lasting positive impact on the environment and society. We have been a signatory of the UN Principles for Responsible Investment (UNPRI) since 2010. Our vision is to be a Nordic pioneer in alternative investments focusing on sustainability.

Taaleri has two business segments: Private Asset Management and Strategic Investments. Private assets management consists of renewable energy, real estate. bioindustry and infrastructure businesses. The Strategic Investments segment consists of Garantia Insurance Company Ltd.

Taaleri has EUR 1.7 bn of assets under management in its private equity funds and co-investments. The company has approximately 120 employees. Taaleri Plc is listed on the Nasdaq Helsinki.

www.taaleri.com

Siri Markula, Head of Communications and IR, tel. [phone], [e-mail]