WindSpace is pleased to announce that the Nyborg Municipality has today granted an updated environmental permit to its Elysium Nordic project including planned adjustments and improvements of processes and technology of the plant.

Jens Elton Andersen, CEO of Elysium Nordic, says: “We are very pleased that we have obtained this updated environmental permit which allows for improvements to the plant and to the environment.”

Nyborg Municipality granted environmental permit for the Nyborg plant on October 30^th, 2020. This permit has now been amended to include planned adjustments and improvements. The improvements include:

• increased energy efficiency
• zero wastewater discharge
• improved quality of recovered materials

The permit conditions from the original environmental permit remain in force.

The updated permit is an important milestone towards construction of the plant expected to start in 2022 and to be operational from 2023. The Nyborg plant is initially expected to be able to create 35 jobs.

The Elysium Nordic plant is a circular economy facility that will convert 30,000 tons of used tires per year to carbon black, bio-oil, and metals which can all be recycled to make new tires and avoid a significant amount of CO2 emission per year. All major tire manufacturers have significant strategic targets for the use of recycled materials for their future tire production. This entails a need for the construction of a significant number of similar plants within EU.

Elysium Nordic has earlier announced that it has obtained the EU-wide exclusive use of pyrolysis technology from the Canadian company Environmental Waste International Inc. Elysium Nordic considers their technology pioneering with the use of a combined heat & microwave-based technology. This process results in even cleaner recovered end products.

In connection with the financing, Elysium Nordic has entered into an agreement with the specialist advisory firm focusing on the renewable energy sector, Green Giraffe for raising capital for the construction of the facility.

End of 2020 WindSpace succeeded in acquiring the 2 MW Piastowo wind turbine, that was build in 2016 by WindSpace and operated for our clients until now. This purchase along with the efficient operation of other assets supports the opportunity to expand the combined portfolio of operational and new renewable energy plants for our institutional investment partners.

“During 2020 the development of renewable energy projects expanded significantly. We expect this to continue during coming years as economic growth and power demand and environmental awareness in Poland will increase demand for renewable energy”, says Jens Elton Andersen, CEO and partner in Danish WindSpace.

Wind park Witkowo-Polka Raciaz was constructed by WindSpace during 2012 and operated for our clients was. The wind park has now been successfully repurchased as part the strategy to create a combined portfolio of operational and new renewable energy plants for our institutional investment partners.

Jens Elton Andersen, CEO and partner in Danish WindSpace: “The Polish renewable energy market is very attractive, and WindSpace have received high interest for co-ownership of development and operation of Polish renewable energy assets from our international network of institutional investors”.

WindSpace continues it efforts to build its portfolio of attractive operational and development renewable assets in Europe.

We are happy to announce that WindSpace is now part of the United Nations Global Compact and Global Compact Network Denmark – respectively the world’s largest corporate sustainability initiative and the biggest Danish network for responsible companies. We are looking forward to contributing to the network’s goals and helping to raise the bar for responsibility and sustainability in the Danish private sector.

As a participating company of the Global Compact, WindSpace is committed to continuously strengthen our work with the 10 Principles of the Global Compact within human rights, labour rights, the environment, and anti-corruption as well as contribute to the 17 Sustainable Development Goals.

Elysium Nordic, developed by WindSpace, has mandated Green Giraffe to raise financing for a tire recycling plant, and to arrange a long-term partnership with investors for future plants.
The company has acquired permits to build and operate the first plant and in Nyborg Denmark. Combined with advanced negotiations on construction, supply and offtake, the company is now ready for a capital increase, that will enable start of construction during first half of 2021. Elysium Nordic will contribute to the circular economy, as the recycling plant will process 30,000 tonnes of end of life tires to produce recovered carbon black, oil, and steel with an estimated over 36,000 tonnes of CO2e savings annually. Scaling up of the recycling process has been secured under an exclusivity agreement with the technology provider for future plants in Europe.

Jens Elton Andersen, CEO of WindSpace said, “we are very pleased to enter this agreement with Green Giraffe, taking the project forward to potential investor partners for the realization of the first Elysium Nordic plant. Green Giraffe, a well-known advisory firm within green tech with an impressive track record and global presence is the perfect advisor for Elysium Nordic at this stage of its development.”

Michael Ware, Director at Green Giraffe, said, “Green Giraffe has long been involved in fundraisings for energy projects including generation from waste. In the past few years, we have started expanding our activities to other sustainability sectors and technologies in which we believe. The Elysium Nordic project’s compelling business case is an opportunity to tap into a niche market with significant growth potential. We are very pleased to enter this collaboration with Elysium Nordic and WindSpace. They have an excellent track record of bringing quality projects to the market”

About Green Giraffe
Green Giraffe is a specialist advisory firm focused on the renewable energy sector launched in 2010. Green Giraffe which has been involved in approx. 200 renewable energy transactions or projects with a total capacity of ~60 GW has raised the last 10 years close to EUR 30 billion for renewable energy projects. Green Giraffe was also involved in the 175MW Björkvattnet wind park project in Sweden, developed by WindSpace, having produced its first kWh and fully operational during 1Q 2020.
With offices in Boston, Cape Town, Hamburg, London, Paris, Singapore and Utrecht, it offers project equity and non-recourse debt structuring, buy-side and sell side advisory, tender support, project contracting support, market intelligence and modelling/valuation services. In October 2019, Green Giraffe entered a joint venture agreement with Daiwa Securities, whereby Daiwa took a 50% stake in the company. Green Giraffe retains its well-known brand in the renewable energy market with DC Advisory (Daiwa's M&A practice) and Green Giraffe working together to bring their complementary strengths and skills for all clients.

WindSpace and Mazna are pleased to announce a partnership, establishing a joint venture in Croatia, WindSpace d.o.o, for the development and construction of large renewable energy portfolios.
WindSpace is a leading developer based in Denmark with active operations in Sweden, Poland and now in Croatia, to develop and provide construction and operation management services to wind parks. Founded in 2006, WindSpace has developed 500 MW of wind park projects in Poland and Sweden, of which a 175 MW wind park project is currently being constructed in Sweden in close cooperation with between WindSpace and its partners. Mazna is a real estate developer since 1964 with over 30 years of experience in Eastern Europe, and since 2007 in Croatia with its local team and development of projects with value over EUR 100 million. Mazna has a strong local experience in project development, permitting processes and approval and administrative procedures.

Joining forces, Mazna with local operation and extensive knowledge of the Croatian market and regulations and WindSpace with experience in renewable energy development and execution, are forming a perfect match with complementary skills.

Croatia has set strong targets for the increase of renewable energy through its integrated national energy and climate plan for the period 2021-2030, although hydro power already represents a significant share, 40% of its energy supply. Renewable energy is targeted to increase from 47% in 2020 to 63,8% of the country’s energy supply in 2030. Wind and solar today represents less than 14%.

About Mazna Holdings

Mazna Holdings is a developer since 1964 based in Denmark with current activities in real estate in Sweden and Croatia and Biogas and renewable energy in South East Asia. 

Active in CEE since 1991 (Romania, Serbia and Slovakia) and since 2007, Mazna has developed projects with value of over EUR 100 million in Croatia, represented by Marcelo Krecic, country manager and local partner.

A plant in Nyborg, Denmark will be the first under the agreement. The agreement also includes a long-term partnership between the companies and a mutual exclusivity agreement for the development and installation of waste tire recycling plants across Europe.

WindSpace has been working on the establishment of Elysium Nordic, a tire recycling project in Nyborg, Denmark since 2018. After an exhaustive search and thorough evaluation it decided to conclude the agreement with EWS. Both companies are delighted to see this partnership formalized. The partnership is a perfect match between the project development and execution capabilities of WindSpace and EWS’ technology and experience in recycling waste tires.

EWS has developed a proprietary system for processing rubber tires via a unique microwave technology that safely processes and recycles waste tires, while recovering highly valuable commodities, including reclaimed carbon black (rCB), steel, syn gas and oil.Each unit is designed to be environmentally safe, energy efficient, and economically profitable for the operator.

Commercialization of EWS’ Reverse Polymerization™ technology represents a momentous breakthrough in dealing with one of the world’s most stubborn waste problems in an environmentally friendly manner.

The first Elysium Nordic plant in Nyborg will be capable of processing 30,000 tons of end-of-life tires annually.

Jens Elton Andersen, CEO of WindSpace said, “We are very happy to enter the tire recycling business in partnership with EWS. We chose EWS after an exhaustive two-year search for the best available technology both from an economic and environmental perspective. We are looking forward to a long and successful partnership in Europe.”

Bob MacBean, EWS CEO said, “We are delighted to have WindSpace as our partners in Europe. This endorsement from a sophisticated and experienced group is an important milestone which confirms our belief that our technology is the best-in-class solution to the worldwide reclamation of waste rubber problem. The timing seems right for our long-term developmental efforts to be rewarded. We are currently in various stages of discussion with prospective customers or partners around the world, which underscores the global nature of the problem and the attractiveness of our solution.”

Download: EWI press release

The first of 33 wind turbines from GE Renewables totalling a tip height of 220 meters have just been erected on the Treblade-Björkvattnet Wind Park.

Stenger & Ibsen Construction has successfully completed the construction works and are in the process of handing over the project area. GE Renewable Energy turbine deliveries are well underway. The focus of the site works is now on the erection of the turbines. Pre-installation has been completed on more than fifteen turbines. Three main cranes are operating on site installing the final sections and the nacelle, hub, and blades. On the 13th August 2020 a major milestone was achieved when the installation was completed of the first turbine. The remaining turbines are planned to be erected during 2020.

Jens Elton Andersen, CEO and partner in Danish WindSpace:
“During the COVID-19 crisis, we have been impressed with the logistics and risk management being performed by all suppliers, contractors and advisors minimizing the impact on the installation schedule. The choice of Natural Power as owners engineer, Stenger & Ibsen and GE Renewables is the result of our strategy to focus on partnering with operationally skilled first tier strategic companies with a proven track-record,” he says.

Danish entrepreneurial forces
Since 2014, Danish WindSpace has worked closely with Swedish Vindparken Förvaltning and GE Renewable Energy on the development and the construction of the park, which will include some of the world's largest onshore wind turbines - a total of 33 turbines measuring 220 meters from foundation to wing tip and each has a capacity of 5.3 MW. The wind park has a total capacity of 175 MW and will produce electricity corresponding to the consumption of up to 175,000 households. The turbines are expected to be operational by the end of 2020.

Jens Elton Andersen continues:
“We are very proud to see the physical proof of our efforts in developing and construction such a large wind park, which represents a leap forward for the green transformation of the energy sector. The last six years we have been working with our international partners to make this happen, ”he says.
Google has announced that they have made an agreement to supply power from Treblade-Björkvattnet to their data centres in the Nordic countries, which guarantees the renewable energy producer a minimum income over a longer time period.

Björkvattnet is located approx. 470 km. north of Stockholm. The 33 new wind turbines are being built in an area that already includes one of Sweden's largest wind parks and will thus further strengthen the park's central role in achieving the Swedish goal of becoming fossil-free in 2040, and as part of Nordic electricity cooperation and thus potentially also supply Danish electricity consumers.

For further information
WindSpace, Jens Elton Andersen, CEO and partner, +45 2014 8322, jea@windspace.dk

Due to our expanding operations in developing wind park and recycling investment opportunities for our global customers and partners, WindSpace is proud to welcome three additional investment profiles.:

Pascal Lasnier joined as Head of Investment Relationships. He is responsible for presenting WindSpace and Elysium Nordic to corporate and institutional investors. He has substantial experience within international investments. Pascal has previously worked as head of new markets equities in Maj Invest and Kirkbi and several international investment banks.

Claude Yammin Jeppesen joined as Financial Analyst. Her responsibilities include market and investment analysis and presentations of investment opportunities to investors. Her strengths include significant analytical skills and experience from a her previous position as Investment Analyst in PFA Global Real Estate.

Ritika Sahgal also joined us as Financial Analyst. She will be responsible for financial modelling, investment analysis and representation of investment opportunities. She has substantial experience within investment analysis. Ritika has previously worked as Investment Manager and Analyst in PensionDanmark and several London based asset management corporations and investment banks.

We are convinced, that Ritika, Claude and Pascal by joining our diverse and talented organization will increase our ability to reach our vision of a world that runs entirely on green energy and recycles all its waste.

Next year, Google's data centres will receive electricity equivalent to the consumption of nearly 200,000 households from one of the largest onshore wind farms realized on commercial terms – from a Danish development company. With this trade, Danish WindSpace is making a serious mark in the international renewable energy investment and development market.

Wind energy has become so efficient and competitive that it can increasingly be installed without subsidies. The new large-scale onshore wind farm in Sweden; Björkvattnet, published today, is a proof of this. Starting next year, the project is expected to power Google data centres and approx. 175,000 households. Björkvattnet is also part of Google's huge renewable energy investment of 286 MW in Sweden - of which Björkvattnet accounts for the 175 MW.
Jens Elton Andersen, CEO and partner in Danish WindSpace:
“It is an absolute game changer that we managed to create such a large wind farm in Sweden without subsidies. It must be the first time in the Nordic countries. This could mean even greater opportunities in the global market when it comes to renewable energy projects and, in particular, wind projects,” he says.
Estimates from the International Monetary Fund (IMF) show that as much as 6.4 percent of global GDP is used to support the coal, oil and gas sectors. And usually renewable energy are only feasible investments if the projects receive public subsidies. In Denmark, total public support for renewable energy projects was just under DKK 9 billion in 2018 according to the Danish Energy Agency.

Danish entrepreneurial forces
Since 2014, Danish WindSpace has worked closely with Swedish Wind Farm Förvaltning and GE Renewable Energy on development and construction of the park, which will include some of the world's largest onshore wind turbines - a total of 33 turbines measuring 220 meters from foundation to wing tip and each has a capacity of 5.3 MW. The wind farm has a total capacity of 175 MW and will produce electricity corresponding to the consumption of up to 175,000 households. The turbines are expected to be operational by the end of 2020.

Jens Elton Andersen continues:
“We are very proud to announce the sale of such a large wind farm, which represents a leap forward for the green transformation of the energy sector - and on commercial terms. The last five years we have been working with our international partners to make this happen, ”he says.
Last week, Google announced that they have made an agreement to supply power from Björkvattnet to their data centres in the Nordic countries with a so-called PPA (Power Purchase Agreement), which guarantees the renewable energy producer a minimum income over a longer period.
Björkvattnet is located approx. 470 km. north of Stockholm. The 33 new wind turbines will be built in an area that already includes one of Sweden's largest wind farms and will thus further strengthen the park's central role in achieving the Swedish goal of becoming fossil-free in 2040, and as part of Nordic electricity cooperation and thus potentially also supply Danish electricity consumers.

For further information
WindSpace, Jens Elton Andersen, CEO and partner, +45 2014 8322, jea@windspace.dk
GE Renewable Energy, Becky Norton, Onshore Wind, Communications Leader, +1 518 522 8832, becky.norton@ge.com or Sebastien Duchamp, Director of External Affairs, SEBASTIEN.DUCHAMP@GE.COM

FACTS
Björkvattnet
The wind farm Björkvattnet is located approx. 470 km north of Stockholm in Sweden.
The area around Björkvattnet includes one of Sweden's largest onshore wind farms. This has not only attracted a number of investors and companies to the area, but also increased population growth.
WindSpace has developed the Björkvattnet in collaboration with Vindparken Förvaltning AB and GE Renewable Energy.
The park will contain 33 onshore wind turbines with a tower height of 141 meters, while the turbines are 220 meters from the foundation to the wing tip. The rotor diameter is 158 meters.
Each turbine has a capacity of 5.3 MW, and together the 33 wind turbines can thus have a capacity of 175 MW. The park's total energy production is estimated at 600 GWh per year. This corresponds to the electricity consumption for approx. 175,000 households.
Björkvattnet was sold to French InfraVia Capital Partners' InfraVia European Fund IV infrastructure fund in collaboration with GE Energy and NEWSEC, which has been financial advisor.

FACTS
WindSpace
WindSpace is a Danish development and investment company within renewable energy and green technology. The company's specialty is the development and design of wind farms in development markets in Europe, with a special focus on Sweden and Poland.

Since 2006, WindSpace has developed 17 MW solar projects and 450 MW wind projects. The company has listed and managed approx. DKK 450 million in eight investment projects with a total of 32 MW of wind turbines.

In addition, WindSpace is, through its sister company, Elysium Nordic, preparing to build one of the world's largest pyrolysis plants for recycling old tires. The plant will be located in Nyborg and will recycle approx. 30,000 tonnes of tires per year. This will reducse emissions of approx. 24,000 tonnes of CO2 annually.

WindSpace was established in 2006 and is today owned by Jens Elton Andersen (CEO), Flemming Engelstoft (COO) and Rune Blæsbjerg (CTO).

WindSpace has extensive experience in international project financing and executes sales processes with some of the world's largest investment funds.

As some of the only developers on the market, WindSpace offers investment projects in all stages of the project, including planning and construction. This ensures customers a greater share of the value added and thus a better return.

The building permit for wind farms Storbrännkullen and Isbillen has been exteded to the end of 2022.

Since 2013 WindSpace has developed wind farms Storbrännkullen and Isbillen in located 530 kilometres north of Stockholm in Sweden in cooperation with our swedish development partners. The two farms have a total capacity of 60 MW. As the projects have final permits and have also been through a thorough due diligence process, they are effectively ready to build.

"We now enter into the sales phase of Storbrännkullen and Isbillen. Because of its ambitious renewable energy plans, Sweden represents a major investment opportunity for many years to come. According to official targets by the Swedish government the country will see an increase in renewable energy generation to 37 TWh by 2022", says Jens Elton Andersen, CEO and partner, WindSpace.

WindSpace has established Elysium Nordic

WindSpace has established Elysium Nordic, a Danish company, that creates new value from end-of-life tires (ELT) by using pyrolysis technology to recover gas, steel, oil and especially carbon black from ELT. Carbon black is a material which is irreplaceable in the production of, among other, tires and rubber based materials.

The first pyrolysis plant will be built in the port of Nyborg. By the time it starts production in 2021, it will be able to recover more than 9.000 tons of carbon black from 30.000 tons of ELT. The plant will be the first step towards a more circular, sustainable and economically reasonable approach to the handling of ELT, in which the tires are recycled instead of incinerated.

For more information on Elysium Nordic, please go to http://www.elysiumnordic.com or see:

Dansk virksomhed opfører et af verdens største pyrolyseanlæg på Nyborg Havn

Nyt pyrolyseanlæg i Nyborg skal genanvende 30.000 ton dæk om året

Nyborg valgt: Ny virksomhed til 300 millioner kroner på havnen

Cooperation agreement signed with Scandinavian Enviro Systems

As a result of evaluating several innovative greentech solutions enabling reduction in CO2 emissions, WindSpace have today signed a cooperation agreement with Scandinavian Enviro Systems. The aim is to build one of the worlds largest pyrolysis facilities in Nyborg, Denmark to treat end-of-life tires and thereby recover the original components of bio-oil, steel, gas and a valuable product called carbon black to be used in the production of new materials. The excess heat will be delivered as district heating to consumers in Nyborg.

"The pyrolysis technology from Scandinavian Enviro Systems combines the quality of being very thoroughly tested at their Facility in Sweden and also brand new in the way that we indtend to build an industrial scale plant based on the same technology. This is just what we are looking for in a new green technology to invest in." says Rune Blæsbjerg, CTO and partner, WindSpace.