AVG Group Sarl to Issue Third Dividend and Launches LATAM Office
PR Newswire
OSLO, Norway and LUXEMBOURG, Dec. 7, 2022
OSLO, Norway and LUXEMBOURG, Dec. 7, 2022 /PRNewswire/ -- AVG Group Sarl $(AVG)$, through its investment fund, the Nordic ESG and Impact Fund SCSp (the "Fund") is set to issue its third dividend back to investors within the year of operations. The Fund launched in March of 2021 and is expected to have 9 Portfolio Companies under management by end of 2022.
"The Portfolio Companies are outperforming our expectations this year. We see that the Inflation Reduction Act has been a tailwind for some of our Portfolio Company strategies and we believe this will continue for years to come," says Karl Andersen, the Fund's CEO.
The Nordic Market for climate technology has been quite active over the last several years. McKinsey released in August, a research paper called 'Playing offense to create Nordic sustainability champions' wherein it is described that the Nordic region is set to be the next Silicon Valley of sustainability and climate technology.
Latin American Office Launch
In response to the COP 27 Summit in Sharm el-Sheikh, AVG has decided to launch a LATAM office with its headquarters in Mexico City. Mexico has pledged with Pemex to eliminate routine flaring and venting across oil and gas operations, supported by an implementation and investment plan of close to $2 billion USD, and a shared goal to achieve a 50% sales share for zero-emission vehicles in 2030. Mexico intends to deploy more than 30 additional gigawatts of combined wind, solar, geothermal, and hydroelectricity capacity by 2030, reaching more than 40 gigawatts of combined wind and solar power.
AVG is capturing this momentum by establishing an office, hiring a team, and bringing innovation to Mexico from the Nordics. AVG will be entering into many technology transfer and community-based investment opportunities to accelerate this growth.
AVG Group Sarl
AVG manages the Nordic ESG and Impact Fund SCSp (the "Fund"). With offices in New York, Oslo and Luxembourg, the team delivers a global approach to ESG and Impact investing.
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SOURCE AV Group Sarl
/CONTACT: For Further Contact: info@avgroup.io, +1 212 796 0919
(END) Dow Jones Newswires
December 07, 2022 11:11 ET (16:11 GMT)