Swiss Life Asset Managers acquires Vergia to boost green energy innovations
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Swiss Life Asset Managers has announced the acquisition of Vergia, a leading platform based in Norway focused on advancing the green energy transition. This acquisition, facilitated on behalf of its managed funds, is intended to accelerate Vergia’s efforts in developing cutting-edge solutions aimed at decarbonising various sectors.
Swiss Life Asset Managers, on behalf of multiple investment funds, acquired Vergia from its previous owner, Arendals Fossekompani.
Founded in Norway in 2022, Vergia leverages internal expertise and strategic partnerships to develop infrastructure projects focused on Power-to-X and offshore wind sectors within the energy transition field.
The investment funds will finance Vergia’s continued growth and facilitate the realization of its initial projects, including a prominent green ammonia initiative in Arendal, Norway.
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This project involves developing and building a green ammonia plant and bunkering facility at Eydehavn port. Specific details, such as the sales price, have not been disclosed.
In recent years, Europe has experienced a significant demand for the development of renewable fuels to accelerate the energy transition.
Among these, green ammonia emerges as a promising alternative to fossil fuels in the shipping industry. It offers an emission-free solution derived from water, air, and renewable energy sources.
Stringent regulatory frameworks propel this shift, underscored by a firm commitment to sustainability and carbon reduction goals. Maritime transport, which accounts for over 80% of global trade volume, currently contributes nearly 3% of global greenhouse gas (GHG) emissions.
Recognizing the urgency, the International Maritime Organization (IMO) has adopted a strategy aimed at slashing GHG emissions from the shipping sector by 80% by 2050 compared to 2020 levels
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Marc Schürch, Head of Renewable Energy at Swiss Life Asset Managers, said, “The acquisition of Vergia marks the first step in establishing a platform focusing on Power-to-X for our managed funds. Europe’s target to become climate neutral by 2050 can only be achieved if all main forms of energy are being decarbonised – electricity, heating, and fuels. Power-to-X utilises electricity generated from renewable sources to produce hydrogen and sustainable fuels.”
He added, “In this context, Norway has some of the most attractive locations in Europe – if not globally. We are, therefore, delighted to base the establishment of our platform on the acquisition of Vergia. Besides the location, its highly experienced management team, the interesting project pipeline, and the very strong partners in the various portfolio companies create an excellent foundation for building a successful platform. With this strategy, we will significantly contribute to the decarbonisation of various sectors, which is very much in line with our ESG ambitions.”
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