HitecVision : Aneo, HitecVision and St1 join forces with the intention to consolidate ownership in Biokraft International, which would trigger a mandatory bid obligation

Photo: Biokraft International AB.

Aneo Renewables Holding AS ("Aneo") and St1 Sverige AB , that own approximately 36.5 per cent and 18.6 per cent, respectively, of the total number of shares and votes in Biokraft International AB ("Biokraft" or the "Company"), listed on Nasdaq First North Premier Growth Market, today announce their intention to consolidate their respective ownership in Biokraft into a newly established company, 1Vision Biogas AB ("1Vision Biogas") (the "Consolidation"). 1Vision Biogas will be owned 50 per cent by St1 Nordic Oy ("St1") and 50 per cent by Daytona Holdco AS, a joint holding company owned by the HitecVision entity HV Daytona Holding AS ("HitecVision") and Aneo.

The Consolidation is conditional on receipt of necessary clearances or approvals by relevant competition and foreign direct investment (FDI) authorities, and will thus not be effectuated until such clearances or approvals have been obtained. The parties expect to receive such clearances or approvals in the first quarter of 2024.

Provided that necessary regulatory clearances or approvals for the Consolidation are obtained, 1Vision Biogas will, after the Consolidation, hold 23,977,232 shares in Biokraft in total, which corresponds to approximately 55.0 per cent of the total number of shares and votes in the Company. Thus, the mandatory bid threshold under applicable takeover rules would be passed and 1Vision Biogas would be obliged to make a mandatory public offer for the remaining shares in Biokraft within four weeks, unless 1Vision Biogas' shareholding in Biokraft during this period is decreased so that it no longer amounts to 30 per cent or more of the votes in the Company. 1Vision Biogas intends to fulfil its obligations by making a mandatory public offer for the remaining shares in the Company at an offer price of SEK 20.65 per share in cash. 1Vision Biogas intends to make such an offer as soon as possible after receipt of the necessary regulatory clearances or approvals.

Aneo and St1 have been the largest shareholders in Biokraft since 2022 and have supported the development of the Company. It is now the ambition of Aneo, HitecVision and St1 to, subject to receipt of necessary regulatory clearances or approvals and through 1Vision Biogas, make a mandatory public offer for the remaining shares in the Company and to continue to support the Company in becoming a leading Nordic biogas player. The aim is to continue Biokraft's exciting journey through actively pursuing future growth opportunities, e.g. the construction of new biogas plants in Germany and Sweden, as well as collaborating closely with the management of the Company to explore additional value creation through both operational and financial initiatives. With their previous experience in developing similar companies within the energy industry, Aneo, HitecVision and St1 also provide the long-term perspective and financial resources needed to ensure that the strategic initiatives are successfully implemented. This contributes to developing a Nordic energy system taking steps towards reaching the Paris agreement climate targets.

Aneo is a Nordic renewable energy company that invests in renewable energy production, electrification and energy efficiency. Aneo is one of Norway's largest operators of wind power, operating in excess of 6 TWh annual production and owns 1.2 TWh of wind power in Norway and Sweden. Further, Aneo delivers energy management services to power producers in Norway, Sweden and Finland and seeks to be a pioneer in the green transition through the development of, and investment in, new green value chains. Aneo is jointly owned by HitecVision New Energy Fund AS and TrønderEnergi AS, is headquartered in Trondheim, Norway, and has approximately 340 employees.

HitecVision is a leading European entrepreneurial energy investor with EUR 8 billion of assets under management. The company is headquartered in Stavanger, Norway, with other offices in Oslo, London and Milan. HitecVision has extensive experience in successfully developing energy companies and has since 1994 invested in, acquired or established more than 200 companies. From its history within oil and gas, the company has been transitioning towards creating companies within the energy transition. In 2021, HitecVision announced that all new portfolio companies will be companies that contribute to the energy transition.

St1 is an energy transition company that operates in Finland, Sweden, Norway and the United Kingdom. Through its operations, St1 implements its vision to be the leading producer and seller of CO2-aware energy. The company has a long-term commitment in investments in low-emissions energy solutions and is investing substantially in biogas production and distribution networks in the Nordics. The St1 group has retail stations in Finland, Sweden and Norway, together with a growing network of gas distribution and electric vehicle (EV) charging points. St1 is headquartered in Helsinki, and currently employs more than 1,000 people. The operations are strengthened by strategic long-term partnerships in various areas.

Together, Aneo and HitecVision will, through a joint holding company, have an ownership share of 50 per cent in 1Vision Biogas, with St1 holding the remaining 50 per cent.

Biokraft is a Nordic Greentech company that produces bioenergy and plant nutrition in a circular cycle by recycling organic waste and residual products in large-scale biorefineries. Biokraft builds, owns and operates large-scale biogas plants with a focus on the Northern European market. Today, there are facilities in Sweden, Norway and South Korea. Biogas is CO2-efficient and lowers greenhouse gas emissions significantly when replacing fossil fuels. Biokraft has just over 110 employees and is listed on Nasdaq First North Premier Growth Market.