Sweden is at the heart of the Nordic market, and Northern Europe has a strong and innovative cleantech capacity. All Nordic countries have robust cleantech ecosystems with companies that are ready to scale. Many of these companies are not yet international, as they currently focus on serving local or regional municipalities and authorities within the Nordic region. Investing in cleantech is not only about benefiting the climate; it is also about increasing national resilience, something the Nordic countries have recognized for many years.

Sweden’s current fossil-free strategy aims to make the country a world-leading fossil-free welfare nation by 2045. The strategy focuses heavily on electrification, renewable fuels (biofuels and green gases), energy efficiency, sustainable transport, and alternative energy sources. Current government targets include a 70% reduction in transport emissions by 2030 and 100% renewable electricity production. Focus is also on the energy (electrical) distribution (infrastructure) in Sweden as most of hydro power plats and resources are in the north of Country. Nuclear power, which was previously been phased out, is now making a return and the Swedish Government are discussing new investments. Sweden’s electricity production is dominated by fossil-free sources: hydropower accounts for around 40%, nuclear power around 30%, wind power approximately 20%, with the remainder coming from other sources including solar power. In total, about 98% of Sweden’s electricity production is fossil-free. By comparison, the corresponding figure is around 40% in the United States, 20% in China, and about 50% in India.

As international economies grow, the demand for sustainable infrastructure and renewable energy continues to increase. Key focus areas in Asia and Africa include renewable energy, waste management and waste-to-energy solutions, water purification (the Blue Economy), and sustainable urban planning. Solutions addressing all these areas can be found in the Nordic region.

Green thinking goes hand in hand with life science, health, and impact. Advancing access to energy in growth markets is one of the most important drivers of sustainable economic development. This can be achieved through the deployment of large-scale power grids as well as decentralized, off-grid renewable energy solutions. Access to clean water through water purification technologies and effective water management is another key area, contributing both to sustainable business and improved public health. Energy, water management, and water purification are core focus areas for us.