Preseco And Pontos Target To Set Up A Fund For Customer Project Financing
Preseco closed around of €10m round including an equity investment by Pontos, a private equity investor and project financing arrangements with Atradius and Finnvera. In addition, Preseco and Pontos have begun strategic co-operation and are aiming to set up a fund for project finacing. This is a new and very innovative vehicle to resolve the issue of customer financing requirements of €10m-€20m per project - a typical sum for global environmental technology projects (press release). To close the transaction, Preseco announced the appointment of Risto J. Pönnö as their new CEO to speed up Preseco's growth (press release).
