Ocean 14 Capital Ltd., a private equity firm that invests in companies and technologies offering sustainable solutions for our oceans, has entered into an investment agreement with AION.
Ocean 14 Capital
Under the agreement, Ocean 14 Capital and Aker BioMarine will jointly provide financing through a NOK 40 million convertible loan facility, equally distributed between the two parties. The financing will be used for growth and working capital in the initial phase for AION. Furthermore, Ocean 14 Capital will take operational control and have both a majority of the voting rights and board representatives in the company towards the next financing phase.
“With their innovation focus on sustainable ocean solutions, we bring onboard the right competence and drive to take AION to a new league. I am confident that AION will benefit from the experience, network and industry insights that Ocean 14 brings to the company. They have a highly skilled and reputable team and form an ideal partner for AION”, said Matts Johansen, CEO in Aker BioMarine.
“Ocean 14 Capital will contribute to scale commercial solutions to mitigate the plastic pollution problem. We have identified AION as a company to take a leading role within industrial plastic circularity, offering impactful solutions with digital traceability to large brand customers. The passionate and knowledgeable team has impressed us with their drive, and we look forward to contributing when AION will enter the next phase for future growth.”, said Chris Gorell Barnes, Partner in Ocean 14 Capital.
“There is a need to move to more sustainable consumption and businesses play a crucial role in the transition to a circular economy. Our mission at AION is scaling circular plastics with a digital platform tracing materials and products in industry. We are excited to partner with Ocean 14 and their coming contributions to our continued journey”, said Runa Haug Khoury, CEO in AION.
Ocean 14 Capital is a Private Equity firm investing in companies that are working to achieve the United Nations’ Sustainable Development Goal #14 “Life Below Water”. It is a partnership between the Co-Founders of the Blue Marine Foundation, the Gottschalk family and Pontos Aqua, combining investment, impact and industry experience. The company invests in venture and growth companies that offer sustainable solutions for the oceans while generating an attractive return for its investors.
AION aims to become a leading circularity player within robust plastic fractions with a scalable and technology-agnostic business model, Circularity as a Service (CaaS). The company provides flexible and traceable end-to-end services in the field of circularity on plastics with a documented sustainability effect for its customers. AION works with a network of suppliers in the physical value chain, selecting the partners that are best suited to the specific loop. AION has several customers across various geographical markets and industries, and the company’s longer-term growth ambition is to reach above NOK 500 million in revenue by entailing circular product offering and services through the tech platform AION Loop.
For further information, please contact:
Tormod Sandstø
Director Communications and External Affairs
tel: +47 909 43 215
e: tormod.sandsto@aion.eco