DLA Piper advises Finnish cleantech company Norsepower on EUR 28 million Series C financing round

DLA Piper has advised Finnish cleantech company Norsepower on their EUR 28 million Series C financing round. The investment round was led by French asset manager Mirova, an affiliate of Natixis Investment Management dedicated to sustainable investment. Other participants in the round included The Finnish Climate Fund (Ilmastorahasto), OGCI Climate Investments, Nefco – The Nordic Green Bank, Tesi, and Power Fund III.

With a focus on impact, these organisations have joined forces to enable Norsepower to scale up production and expand the reach of its fuel-saving and emissions-reducing technology. Norsepower is on a mission to decarbonise the shipping industry through Norsepower Rotor Sail, a modernised version of the Flettner rotor that uses a minimal amount of the ship’s electric power to rotate cylinder-shaped rotors on the ship’s deck.

The DLA Piper advisory team comprised Markus Oksanen and Jan Zelmenis.