Crises in the two green companies Northvolt and Green Hydrogen Systems have consequences for how the Danish pension giant ATP looks at future climate investments. There will be fewer green investments, says ATP's CEO, Martin Præstegaard, in an interview with the media outlet Finans.
The pension company has invested 2.3 billion DKK in the Swedish battery manufacturer Northvolt, which on Monday managed to pay a tax bill of 188 million DKK, which otherwise risked sending the company towards bankruptcy.
- Are fewer green investments being made, given the experience we have now? Yes, there are, Martin Præstegaard tells the media outlet.
There have been many stories about Northvolt recently, while the Swedish company has tried to get its financial foundation under control. On Thursday last week, Reuters reported that the company is in dialogue with investors and lenders about a capital injection of 200 million euros. This corresponds to approximately 1.5 billion kroner.
According to the news agency's sources, the money is intended to secure short-term financing for Northvolt. At the same time, it also aims to secure capital in the long term, it said.
ATP has also invested heavily in Green Hydrogen Systems, a Danish producer of hydrogen technology. The company has had to announce a major round of layoffs in order to lower the current cost level. Since the beginning of the year, Green Hydrogen Systems' market value has fallen by around 60 percent.
Martin Præstegaard tells Finans that there are many green investments that ATP does not consider at all, "because the return is completely uninteresting". And if the green companies are considered anyway, they are carefully scrutinized for risks.
/ritzau/
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