Klappir arrange green financing from Nordic Environment Finance Corporation

International Sustainability Solutions company ISS ESG has inspected Klappir Green Solutions hf.‘s operations and rated them as green. The rating is based on the fact that over 90% of the company‘s revenue derives from software which reduces greenhouse gas emissions from corporations, municipalities and public authorities. Such operations are categorised as green in the EU Taxonomy Regulation, which has been incorporated into the EEA agreement by decision of the EEA Joint Committee no. 151/2022. Concurrently ISS ESG provided a positive opinion on Klappir’s Green Financing Framework.

Klappir has, on the basis of its Green Financing Framework, concluded a Term Sheet with Nefco (Nordic Environment Finance Corporation) on the main terms for a green loan, intended to support Klappir‘s international scale-up plans. Once finally agreed, the loan will allow for conversion of the loan amount into shares, where the terms entail that Klappir will issue a share warrant in favour of Nefco. A shareholders‘ meeting will be convened in the fall where a proposal for amending the company‘s articles in line with the loan terms, will be presented for shareholder approval.

Additional information on Klappir‘s Financing Framework:
https://www.klappir.com/green-financing-framework

Additional information on Nefco:
https://www.nefco.int/wp-content/uploads/2021/03/Nefco-Strategy-2021-25.pdf