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Midroc New Technology

6 a Telegrafgatan, Solna, Stockholm, 169 72, Sweden

Overview

The area of New Technologies is highly interesting to us. The companies in this area are often relatively small and new. Midroc has an understanding for entrepreneurism and innovations and can give significant support to innovative companies. We contribute to the process of building profitable companies, and possibly market leading corporations, out of innovative ideas. It is an interesting business with a useful function as commercial development of new technology in most cases requires financing and support from a venture capitalist. The potential for global and innovative technologies regarding alternative fuels, energy, environmental technology and a greener future is really without limitations or boundaries. The goal for Midroc New Technology is to go for inventions that gives a good return and at the same time also provides useful global and environmental benefits.

Total investments
3
Lead investments
1
Investments · 12mo
0
Active investors
1
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Investment portfolio

  • CorPower Ocean

    Participated · Equity · Feb 2021

    CorPower Ocean develops and deploys buoy-based systems that convert ocean wave motion into electricity and is headquartered in Sweden. The company has built a pre-commercial, 10-megawatt wave energy farm off the coast of northern Portugal enabled by a €40 million EU Innovation Fund grant. CorPower has also secured substantial grant support including €17.5 million from the EIC Accelerator and €19 million through Horizon Europe to advance additional wave farms in the U.K. Its financing history includes prior backing from NordicNinja VC, SEB Bank’s climate tech investment group, and InnoEnergy, and the recent €53 million Series B expands its equity base with participation from the EIC Fund, Algebris, Acario, Tokyo Gas CVC, and GTT Strategic Ventures. The company is using a mix of public grants and private capital to commercialize its technology and scale ocean wave energy deployments.

  • Heliospectra

    Led · Equity · Oct 2015

    Heliospectra builds LED lighting products for controlled-environment plant growth based on plant physiology and photosynthesis knowledge. After six years of development in Sweden the company has begun expanding into international markets, including the US. The company has raised more than $18 million in capital and received over $2.6 million in academic scholarships and grants. Management says recent orders indicate a commercial breakthrough in the US and expects continued strong sales growth. Proceeds from the recent warrant exercise will be used to accelerate sales approaches, particularly in the expanding US market. Principal owners include Weland Steel, the Swedish Industrial Fund, Midroc and Wood & Hill Investment. Heliospectra develops an intelligent High Brightness Light Emitting Diode (HB-LED) based lighting system for greenhouses that lets growers adjust plant growth and control quality (stem and leaf thickness, plant size and tolerance, and growth rate). The system originated from research in plant biology and was developed in close collaboration with its first customer, Swedeponic, which tested and verified the solution at different stages. The company was founded in 2006 and is led by CEO Staffan Hillberg and Director of Research Tessa Pocock, Ph.D. Heliospectra is relocating from Borås to Göteborg to share offices with the Swedish Institute for Food and Biotechnology (SIK). The company recently raised funding and intends to use the proceeds to launch its solution in the European market.

Team