Ingka Investments, the investment arm of Ingka Group, makes a €2 million investment in the Swedish innovation company GREEN14. The cooperation aims to support more sustainable silicon production and ensure the supply of critical raw materials needed for a renewable future.
The investment will support GREEN14’s ongoing development of its pilot facility and accelerate the scaling of its hydrogen plasma technology which transforms quartz into high-purity silicon with significantly lower emissions compared to traditional methods. This new approach has the potential to transform silicon production, a key component in solar panels and other technologies, while addressing the urgent need for cleaner industrial processes. The agreement also stipulates terms for a future off-take agreement, granting Ingka Investments the potential to become a substantial buyer of the material produced.
Frederik de Jong, Head of Renewable Energy at Ingka Investments
“By investing in GREEN14, we are leveraging a royalty-based model with the option to buy more sustainable silicon for our solar panel sourcing at an advantageous rate. This investment underscores the importance of continuous innovation within the renewable energy industry, ensuring a more sustainable and resource-efficient future”
“Europe’s ability to secure critical raw materials is vital to achieving its climate ambitions and ensuring independence. GREEN14’s technology represents a step forward in more sustainable silicon production, and the investment injection supports this ambition,” says Adam Podgorski, CEO of GREEN14.
As part of a EUR 7.5 billion initiative to support 100 percent renewable energy consumption across the value chain and beyond, Ingka Investments has invested and committed EUR 4.2 billion into renewable energy projects in wind and solar power. The investment scope also includes innovation and transitional technologies, such as energy storage, hydrogen as an energy carrier, or grid infrastructure.
About Ingka Investments
Ingka Investments is the investment arm of Ingka Group, the largest IKEA retailer. Focused on long-term value creation, it invests in six strategic areas: forestland, renewable energy, real estate, circular, financial markets, and business acquisitions and venture investments. Ingka Investments’ mission is to ensure the financial resilience of Ingka Group, support the transformation of IKEA Retail, contribute to sustainability, and strengthen the IKEA brand for future generations through responsible and impactful investments. Read more on https://www.ingka.com/what-we-do/ingka-investments/
About Ingka Group
With IKEA retail operations in 31 markets, Ingka Group is the largest IKEA retailer and represents about 90% of IKEA retail sales. It is a strategic partner to develop and innovate the IKEA business and help define common IKEA strategies. Ingka Group owns and operates IKEA sales channels under franchise agreements with Inter IKEA Systems B.V. It has three business areas: IKEA Retail, Ingka Investments and Ingka Centres. Read more on www.Ingka.com
About GREEN14
GREEN14 is at the forefront of sustainable silicon and other critical raw material production, utilizing innovative hydrogen plasma technology to reduce emissions by over 95% compared to traditional processes. The company aims to deliver cleaner industrial solutions while addressing critical raw material challenges and enhancing resilience in the supply of critical materials during the transition to renewable energy.
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