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Vinge advises Baseload Capital in connection with its 53 MEUR Series B financing round

September 04, 2024

Vinge has advised Baseload Capital Holding AB in connection with the closing of its 53 MEUR Series B financing round. The round was led by an investment from infrastructure fund ENGF. The main investor behind ENGF is Ingka Investments, the investment arm of Ingka Group. Other shareholders participating in this round include energy technology company Baker Hughes (whose investment was announced in 2023), NEFCO, Breakthrough Energy Ventures and Gullspång Invest.

Baseload Capital is a leading investment entity dedicated to advancing geothermal energy deployment globally. Through the establishment of operating companies in global locations, Baseload Capital partners with local communities and power providers to commission, permit and build Baseload Capital-funded geothermal power plants. Baseload Capital and its Baseload Power subsidiaries operate in mature geothermal markets like Iceland, the US, and Japan, as well as in emerging markets like Taiwan. As one of the first European investments by Breakthrough Energy Ventures (BEV), Baseload Capital also carries a certain quality mark as BEV only invests in companies that can reduce emissions by at least half a gigaton of greenhouse gases. 

Vinges team consisted primarily of Maria Dahlin Kolvik, Gustav Wahlberg and Måns Håkansson.

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