Impact from Nopef projects

of companies

have operations

in the project country

Nopef carries out an annual project evaluation to assess the impacts of implemented projects. The results of this year’s survey show a continued positive trend in perceived customer benefit and added value among Nordic companies that have received funding from Nopef.

 

According to results from 2022, 75% of companies believe that Nopef’s support had a significant or very significant impact on their decision to carry out a feasibility study with a focus on internationalisation, an increase from 74% in 2021. Of the Nordic companies that carried out an international establishment with the support of Nopef, 93% still have ongoing operations in the project country three years after their establishment abroad.

Each Nopef project creates

new jobs

investments

sales

On average, each project realised with funding from Nopef creates 10 new jobs at participating companies during the subsequent three-year period following project implementation, of which two are located in the Nordic region.

 

According to the client companies, the projects on average result in project-related investments of EUR 1 million, as well as average project-related sales of EUR 2 million. Three out of four client companies have used or plan to use Nordic subcontractors in their project country operations.

Expected impact from

projects financed in 2022

new jobs

investments

sales

Given the average project impact presented above, the projects financed by Nopef in 2022 are expected to contribute to the creation of approximately 172 new jobs, including 30 in the Nordic region, over EUR 25 million in green investments and an estimated EUR 35 million in project-related sales in the coming years.

Cycled Technologies, based out of Skien, Norway, has developed a modern solution to the problem of plastic waste. The company collects, sorts and sells used plastic in Nigeria, a large country with a population of 200 million people. Its latest idea is to decentralise plastic recycling and use the resulting material to manufacture new products, producing high value plastic items such as roofing tiles, electrical wall sockets and wall clocks.

Thor Sverre Minnesjord, CEO, Cycled Technologies

Cycled Technologies wanted to create a one-stop shop for sorting, shredding and injection moulding plastic. A smaller unit would fit in a standard shipping container, cost only USD 30,000 and be capable of processing 100 kilograms of material per day. As they would be located closer to sources of material, the units would drastically shorten logistics lines, saving time and fuel.

 

Through a Nopef-funded feasibility study, Cycled Technologies concluded that its idea was viable. The next step is to build a demonstration unit and study potential products for manufacture.