Nopef in 2022: 35 new projects fostering a green and competitive ...

Enriched Nordic · Found: 2026-03-11 08:07

Nopef (the Nordic Project Fund) granted funding for 35 new projects worth EUR 1.3 million. The majority of the approved projects (57%) were related to circular ...

Source: https://www.nefco.int/news/nopef-annual-review-2022/

Funding Details

Funder

Nefco (Nordic Environment Finance Corporation) / Nopef (Nordic Project Fund)

Funding Goal

Support Nordic SMEs in internationalizing green technology solutions through feasibility studies and demonstration projects in markets outside the EU/EFTA region.

Funding Amount

Up to 50% of feasibility study costs, capped at EUR 50,000 per project. Structured as interest-free conditional loan converting to grant upon project completion. (up to 50.000 €)

How to Apply

Applications are accepted on a rolling basis through nopef.com/apply. Investment experts are available for guidance before applying. The process involves submitting a feasibility study proposal that demonstrates environmental impact, targets commercially unproven markets, and identifies local partnership opportunities.

Target Region

Global (markets outside EU/EFTA, including emerging economies in Africa, Asia, Latin America, Eastern Europe)

Last Checked

2026-03-12 04:21

Application Checklist

Eligibility

• Company must be registered in a Nordic country (Denmark, Finland, Iceland, Norway, or Sweden)
• Company must be an SME with fewer than 250 employees and annual turnover below EUR 50 million
• Company must have established, commercialized products/services with relevant internationalization experience

Project Scope

• Project must target markets outside the EU/EFTA region
• Project must demonstrate verifiable positive environmental or climate impact

Required Documents

• Apply online at nopef.com/apply (rolling applications)

Constraints

• Funding covers feasibility studies, project planning and preparatory activities only — not equipment or operational costs
• Funding covers up to 50% of costs, maximum EUR 50,000 per project

Summary

Nopef (the Nordic Project Fund), managed by Nefco, provides financial support to Nordic small and medium-sized enterprises (SMEs) seeking to expand their green technology solutions internationally. The program funds feasibility studies, project planning, and preparatory activities for establishing business operations or demonstration projects outside the EU/EFTA area. Since its founding in 1982, Nopef has supported over 3,200 SMEs with approximately EUR 113 million in funding, generating around 1,200 successful international business establishments. Funding covers up to 50% of feasibility study costs, capped at EUR 50,000 per project. The support is structured as an interest-free conditional loan that converts to a grant upon successful project completion — if the venture results in foreign business activity, the full loan converts to a grant; otherwise, 50% converts and the remainder must be repaid. Eligible sectors include energy efficiency, cleantech, infrastructure, water treatment, waste management, renewable energy, circular economy, and ocean economy solutions. In 2022, Nopef approved 35 new projects worth EUR 1.3 million, with 57% related to circular economy and sustainable business models. Cross-Nordic partnerships were strong, with 57% of funded projects involving partners from multiple Nordic countries. Target markets included emerging economies such as Brazil, Georgia, India, Indonesia, Kenya, and Uganda. The program manages approximately 140 active projects across 40 countries at any given time. Applications are accepted on a rolling basis through the Nopef website. Applicants must be registered in a Nordic country, have fewer than 250 employees, annual turnover below EUR 50 million, and possess commercialized solutions with relevant internationalization experience.

Historical Context

Nopef has been operating since 1982. Over its lifetime it has supported over 3,200 SMEs with EUR 113 million in funding, resulting in approximately 1,200 successful international business establishments. In 2022, 35 new projects were funded worth EUR 1.3 million. The program manages around 140 active projects across 40 countries. Cross-Nordic collaboration increased to 57% in 2022 from 49% the prior year. Eight past/current Nopef clients received fast-track loans from Nefco to scale solutions globally.

Sources

• https://www.nefco.int/news/nopef-annual-review-2022/
• https://www.nefco.int/financing/nopef/
• https://nopef.com/
• https://www.nefco.int/fund/nopef/
• https://www.nefco.int/nopef/
• https://www.nefco.int/financing/

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