NEFCO Scale-up Financing for Nordic Green Companies

Enriched – · Found: 2026-03-13 15:25

NEFCO (Nordic Environment Finance Corporation) provides financing for Nordic SMEs with proven green solutions ready for international scale-up, including circular economy innovations like plastic recycling. Offers loan financing on market terms, EIF guarantees, and support for feasibility studies. Recent support includes companies like Sulapac (biodegradable plastics) and Cycled Technologies (plastic recycling). Contact NEFCO to discuss specific project applications.

Source: https://www.nefco.int/financing/companies/

Funding Details

Funder

NEFCO - Nordic Environment Finance Corporation

Funding Goal

Provide loan financing and financial support to Nordic small and medium-sized enterprises (SMEs) with proven green solutions ready for international scale-up, including circular economy innovations, green technologies, and environmental impact solutions

Funding Amount

Loan financing on market terms for scale-up investments; Nopef feasibility study support available separately (next deadline 27 March, periodic)

How to Apply

Prospective applicants can contact NEFCO directly via nefco.int/contact. Nopef feasibility study applications have periodic deadlines (next was 27 March). Investment proposals reviewed on a case-by-case basis. See https://www.nefco.int/financing/investment-criteria-and-cycle/ for investment criteria.

Target Region

Nordic countries (Denmark, Sweden, Finland, Norway, Iceland) for eligible companies; solutions deployed internationally

Contact

nefco.int/contact/contact-channels/ for specific staff contacts. NEFCO headquarters: Helsinki, Finland

Last Checked

2026-03-15 11:15

Application Checklist

Eligibility

• Applicant must be a Nordic SME (fewer than 250 employees, turnover below EUR 50M)
• Must have a proven green solution with positive environmental or climate impact
• NGOs and non-profit membership organisations are not the target applicant type

Project Scope

• Solution must be ready for international scale-up (not early-stage development)

Required Documents

• For Nopef feasibility support: apply via periodic calls (check nefco.int for current deadline)

Constraints

• Financing is a loan on market terms — not a grant; repayment capability required

Summary

NEFCO (Nordic Environment Finance Corporation) is a Nordic multilateral financial institution that has provided impact-oriented financing since 1990. It finances Nordic small and medium-sized enterprises whose solutions deliver positive environmental or climate impact, focusing on companies with proven green technologies ready to scale internationally. NEFCO offers three main products for Nordic companies: (1) Scale-up loan financing on market terms for green international expansion; (2) EIF (European Investment Fund) guarantees to reduce financing risk for Nordic SMEs; (3) Nopef — financial support for feasibility studies and preparatory business activities that enable internationalisation. Thematic priority areas include circular economy solutions, waste recycling and treatment, renewable energy, clean water, and other environmental technologies. Past investments include ballast water treatment (marine invasive species prevention) and environmental reporting software, demonstrating a broad green technology mandate. Geographically, eligible companies must be established in Nordic countries (Denmark, Sweden, Finland, Norway, Iceland). Their solutions, however, are intended for international scale-up and deployment globally. Eligible applicants are Nordic SMEs: fewer than 250 employees, annual turnover below EUR 50 million and/or balance sheet below EUR 43 million. This financing is not targeted at NGOs, membership organisations, or non-profit entities. The financing instrument is a loan (market terms), not a grant. NEFCO reviews applications on a rolling basis through its investment cycle. The Nopef feasibility programme has periodic application windows. As of March 2026, 69 active investments indicate an active deal pipeline.

Historical Context

NEFCO has been active in impact investing since 1990. As of 2025: 69 active investments, 24 feasibility studies through Nopef that led to international businesses, 8,715 tonnes of waste recycled across portfolio. NEFCO also offers EIF (European Investment Fund) guarantees for Nordic SMEs. LOOP Forum 2026 (Nordic circular economy event) listed as upcoming NEFCO event.

Sources

• https://www.nefco.int/financing/companies/

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