Sweden's Enviro secures US$12.1M convertible facility to fund tyre recycling
What's the deal? Scandinavian Enviro SystemsDealroom has a profile for this one. Try Dealroom → has agreed a convertible loan facility of up to US$12.1M (≈$10.5 million) with Nordic Restructuring and Growth Capital 1. Over a 36-month period, Enviro can draw the loan in tranches, which convert into new shares with attached warrants.
The mechanics: Enviro will pay Nordic Restructuring and Growth Capital a commitment fee of 10%, or US$1.21M, settled in newly issued shares. The Swedish company resolved a directed share issue of 52,966,101 shares at US$0.02 each — matching its Nasdaq First North closing price on August 25, 2026.
Not just one lender: Enviro also extended an existing arrangement with Alumni CapitalDealroom has a profile for this one. Try Dealroom →, first struck on May 22, 2026. That deal's commitment rises from US$6.04M to US$9.67M, with warrants increased from 50,000,000 to 80,000,000. Enviro will pay an 8% fee on the added US$3.63M, or US$290.1K, in shares.
Why now? The board acted under authorisation from its annual general meeting on June 23, 2026, deviating from shareholders' pre-emptive rights to move quickly.
What could go wrong? Both facilities dilute existing holders through fee shares, discounted issues, and warrant conversions. With shares priced under US$0.02, the structure signals a company leaning on flexible, incremental financing rather than a single large raise.
The signal: At roughly $10.5 million, this convertible sits in the smaller tier of disclosed rounds. But the layered structure — one new facility, one extended — shows how listed cleantech firms are stitching together capital in tranches to keep operations funded without a dilutive one-off placement.
Read more: placera.se
Image credit: photosteve101
