AVG Group Sarl (AVG) has invested $2,000,000 USD (17,000,000 NOK) into Norhybrid, a Norwegian producer of modular wind turbines capable of complementing existing solar infrastructure or a replacement solution. AVG’s investment will be supported by SIVA, a division of the Norwegian Government, who will contribute an additional $1,000,000 in grants to Norhybrid.
Norhybrid was founded by Ole Vidar Homleid. Ole Vidar Homleid has over 25 years of Nordic renewable energy experience. Mr. Homleid has been a trusted consultant with the Norwegian Government to build scalable Wind Farms, Offshore Wind Development, Waste to Energy systems and other sustainable municipal initiatives. Norhybrid has existing power producing wind parks in Poland and Estonia and is expanding into the N. American renewable energy market with AVG.
AVG is active in Nordic growth equity market after having made two previous investments into two successful Solar EPC companies. “An investment into Norhybrid will compliment our existing portfolio of assets and provide an opportunity to bring modular wind technology to the mass markets, ” says CEO Karl Andersen.
US Feeder Fund
AVG has established a US Based Feeder Fund called the ‘Nordic ESG and Impact Fund LLC’. The Feeder Fund was established to accommodate N. American investors in a tax efficient structure. AVG has entered into a strategic relationship with Silver Leaf Partners LLC, a US based registered broker dealer. Silver Leaf has been growing their ESG and Impact practice in the United States and North America and sees a strategic value to working with AVG.
“Silver Leaf Partners is pleased to be consulting and advising AVG in the growing of their assets under management in North America,” says Michael Scanlon, a senior advisor to the firm.
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