GreenStream completes financing round for the growth of its energy efficiency business in China

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GreenStream Group completed a financing round, closing 5.4 million Euros of joint equity and debt financing, of which 4 million Euros for the mother company GreenStream Network Ltd. The financing enables GreenStream to continue the dynamic growth of its energy efficiency business in China. As part of this transaction GreenStream Network Ltd. is particularly pleased to welcome the Nordic Environment Finance Corporation (NEFCO) as a cornerstone shareholder and is grateful to Ilmarinen Mutual Pension Insurance Company (Ilmarinen) for its ongoing support of the Company.

“NEFCO has previous experience from purchasing carbon credits from China. We have also co-operated with GreenStream Network Ltd for a longer period of time. We are very pleased to now become a shareholder in GreenStream which will enable us to strengthen our fruitful co-operation and influence new investments in Chinese energy efficiency projects”, says Senior Financial Manager Thor Thorsteinsson at NEFCO.

The direct financing of 1.4 million Euros for GreenStream’s China business consists of FinnFund increasing their investment in GreenStream’s subsidiary GreenStream Energy Efficiency Investments Ltd (GEEI) in Hong Kong and Shanghai Pudong Development Bank granting a loan to GEEI’s subsidiary in Shanghai Free Trade Zone. Also major part of the investment in the mother company GreenStream Network Ltd. will be used for the growth of the Chinese energy efficiency business of the Group.

“The injection of this additional capital will enable us to grow our energy efficiency investments and project portfolio in China. It also completes the picture of our near term EMC strategy” Dr Jussi Nykänen, CEO of GreenStream noted. “At the beginning of 2015 we had one project in operations, now the fifth is being commissioned and we have three more project agreements closed. Just one day before the financing round closed, we signed a new project deal in Chinese steel industry, so the new investors immediately got to witness our further growth first hand” he adds.

Since the execution of the first energy efficiency project in April 2013, GreenStream’s business in China has gone from strength to strength, with subsequent transactions being executed, projects being commissioned and generating revenue. The growth pace in China’s energy efficiency sector has been persuasive highlighted with the fact that GreenStream commissioned its first steel industry project in late November 2015, and only one and half months later it signed a new deal in the same sector and by using the very same technology solution, Sarlin Balance. The business concept of GreenStream and its reliable co-operation with both its Finnish technology partners like Runtech Systems and Chinese clients looks appealing for investors.

“It is clear that the provision of energy efficiency services in China is a win-win business model, resulting in export growth for Nordic cleantech providers while assisting in China’s transition to a low carbon economy and solving critical local environmental issues such as air and water pollution” states Harri Roto, Chief Operating Officer of GreenStream.  “As of today already nine Nordic cleantech companies have delivered equipments and knowledge to our projects. It is this blend of Western technology and expertise with a Chinese industrial client network that has proved so attractive to investors”.

Further information: 

Jussi Nykänen, CEO
+358 (0)40 840 8001
jussi.nykanen (a)


Picture by Faisal Al Fairs

Latest references

Opening China markets for Sarlin

GreenStream has opened China markets to many Finnish small and medium sized companies. One of the main technology partners at the moment is Sarlin.

Shangdong Guangjun Paper – annual energy savings up to 32 %

Annual savings:

Electricity saving: 1926.6 MWh
Water saving: 18495 m3
Steam saving: 2652 t
Standard coal: 1068 TCE
Emission reduction: 2766t CO2e

Energy Efficiency for Delong Steel

GreenStream’s project saved 15 % of the compressed air related electricity costs annually for Delong Steel’s Xingtai steel mill. The technology provider was Sarlin.