Cleantech Invest increases its ownership in accelerating portfolio company Nocart

Cleantech Invest has increased its ownership by converting a loan in portfolio
company Nocart. The ownership increased to approximately 21,5% from 20%.

Nocart delivers power management units for distributed and renewable energy
generation. It enables the use of several different energy sources at high
efficiency rate. Nocart’s product can be used for electricity production from
solar, wind and biomass, as well as small-scale hydroelectric generation. It is
used both for connecting installations to the grid and for complete off-grid
installations to become independent of the grid. Nocart is a system supplier
whose deliveries combine technologies from also other companies.

The company has been able to grow profitably. Last year’s revenues almost
quadrupled to just less than 4 MEUR and during the first half of 2016 has signed
orders of approximately 12,9 MEUR.

Alexander Lidgren, Managing Director at Cleantech Invest: “Distributed renewable
electricity generation is growing explosively and Nocart has done an amazing
breakthrough to this market. They have made over 60 deliveries and are showing a
positive result throughout this growth.”

Vesa Korhonen, Managing Director at Nocart: “Nocart’s rapid growth continues in
all fronts, we are opening new geographic markets, developing larger projects
and working with larger financial institutions. Our project pipeline indicates
continued sales growth.”
Contact Information:

Alexander Lidgren, Managing Director of Cleantech Invest Plc. Tel. 46 73 660

Access Partners Oy, Certified Advisor. Tel. 358 9 682 9500

Vesa Korhonen, CEO of Nocart Oy. Tel. 358 50 570 0952,
Cleantech Invest in brief

Cleantech Invest is a Nordic accelerator with investments in growth companies
that solve global challenges. The portfolio companies are active in energy- and
resource efficiency as well as decentralized renewable energy and are based in
Finland, Sweden and Germany. The company management consists of company builders
and investors who have been active within the cleantech space for over a
decade.The company is listed on First North Finland under the ticker CLEAN and
on First North Stockholm under the ticker CLEANT A.

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