Nevel Oy’s Acquisition of Veitsiluoto’s Energy Infrastructure, and Utility Supply for Infinited Fiber Company – Global Legal Chronicle

2022-07-02 03:30:49 By : Ms. Janet Wang

Castrén & Snellman advised Nevel Oy on the deal.

Nevel Oy implemented its energy infrastructure services in Veitsiluoto in Kemi, northern Finland. Nevel will purchase the area’s district heating business from Stora Enso. The acquisition will ensure the continuity of the service for the local households and real estate.

Nevel has signed a contract to supply the energy to the Stora Enso Veitsiluoto sawmill and plans to invest in a new 11 MW biofuel boiler plant and flue gas condenser at the Veitsiluoto sawmill, which will reduce emissions from heat production.

Nevel has also agreed to supply renewable textile and fashion technology company Infinited Fiber Company with energy and water utilities for their new processing plant at the Veitsiluoto site. Infinited Fiber Company is planning to convert a paper factory previously operated by Stora Enso on the site into a textile fiber production plant. This will be the company’s first commercial-scale plant. The fiber production processes require steam energy and water purification. Among other services, Nevel is set to supply Infinited Fiber Company with energy and water utilities. Energy provided will be renewable, reducing emissions from heat production.

Nevel is a utility infrastructure company offering advanced industrial and municipal infrastructure solutions that are fit-for-purpose and future-proof. Nevel operates more than 130 energy production sites and manages over 40 district heating networks. The company has an annual turnover of EUR 100 M, and employs 150 experts in Finland, Sweden, and Estonia.

Infinited Fiber Company is a fashion and textile technology company. Its breakthrough innovation turns cellulose-rich materials – like worn-out clothes – into InfinnaTM, a premium textile fiber.

The Castrén & Snellman team included Samuli Tarkiainen (Picture), Johanna Juureva, Markus Rahnu, Heidi Malmberg, Sonja Leinonen, Sampo Korpiola, Krista Gusev, Anu Aaltonen, Sanna-Mari Seppälä, Jenni Korhonen, Joachim Wik and Vilma Setälä.

Involved fees earner: Anu Aaltonen – Castrén & Snellman; Krista Gusev – Castrén & Snellman; Johanna Juureva – Castrén & Snellman; Jenni Korhonen – Castrén & Snellman; Sampo Korpiola – Castrén & Snellman; Sonja Leinonen – Castrén & Snellman; Heidi Malmberg – Castrén & Snellman; Markus Rahnu – Castrén & Snellman; Sanna-Mari Seppälä – Castrén & Snellman; Vilma Setälä – Castrén & Snellman; Samuli Tarkiainen – Castrén & Snellman; Joachim Wik – Castrén & Snellman;

Law Firms: Castrén & Snellman;

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