- HeavyFinance, a climate technology firm in Lithuania, secured a €50 million fund aimed at decarbonizing agriculture and promoting sustainable practices.
- The European Investment Fund (EIF) pledged €20 million towards the fund, aiming to attract further investments from other stakeholders.
- The initiative received support from InvestEU, an EU program mobilizing funds for European policy priorities.
- The fund will focus on supporting small and medium-sized agricultural enterprises in Bulgaria, Latvia, Lithuania, Poland, and Portugal, offering mid-term debt capital for adopting sustainable practices and reducing carbon footprints.
Lithuania-based HeavyFinance, a pioneering climate technology firm dedicated to fostering sustainability within agriculture, stands at the forefront of providing innovative financial and investment solutions.
Their mission is to combat climate change by facilitating the reduction of 0.376 tons of carbon dioxide equivalent annually for every €1,000 invested, in perfect harmony with the stringent guidelines set forth by the European Investment Fund (EIF) for Climate Action and Environmental Sustainability.
In a significant development, HeavyFinance recently concluded the successful closure of a groundbreaking €50 million fund meticulously crafted to support farming enterprises, including cutting-edge agtech startups, in their journey towards decarbonisation and the adoption of regenerative agricultural practices.
The EIF, renowned for its strategic backing of notable ventures like Blume and GapMinder, has pledged a substantial €20 million towards this transformative fund.
Their involvement not only injects crucial capital but also serves as a catalyst for attracting further investments from other key stakeholders.
Moreover, this initiative has garnered vital support from InvestEU, an esteemed EU program committed to mobilising a staggering €372 billion for advancing European policy priorities by 2027.
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The newly allocated funding is set to catalyse the advancement of decarbonisation efforts within the agricultural landscapes of Bulgaria, Latvia, Lithuania, Poland, and Portugal.
Specifically tailored to meet the needs of small and medium-sized agricultural enterprises, this fund will offer mid-term debt capital, enabling them to embark on a transformative journey towards reducing their carbon footprint through the adoption of sustainable practices.
Among the array of sustainable solutions to be financed, emphasis will be placed on supporting initiatives that promote greener agricultural practices.
These encompass alternative soil-friendly techniques designed to sequester carbon and enhance soil health, thus contributing to the overall sustainability of the agricultural sector.
In 2020, the visionary trio of Laimonas Noreika, Darius Verseckas, and Andrius Liukaitis united to establish HeavyFinance in the vibrant city of Vilnius, Lithuania.
Serving as a dynamic marketplace, HeavyFinance serves as the nexus where investors seeking opportunities intersect with businesses reliant on heavy equipment.
Notably, the investment avenues facilitated by the HeavyFinance platform are underpinned by tangible heavy equipment assets serving as collateral, ensuring reliability and security for all stakeholders involved.
