ABG Sundal Collier acted as advisor to UMOE Advanced Composites in connection with the NOK 85 million private placement lead by NRP Zero

On 28 November 2022, UMOE Advanced Composites (“UAC”) announced the successful completion of a private placement raising gross proceeds of NOK 85 million. Majority of the private placement was subscribed by NRP Zero. The capital raise is a solid step towards global expansion and scale. The original investment by Yield Capital in Q2 2021 helped establish UAC in China. This investment from NRP Zero means that UAC can increase production volumes even faster both in Kristiansand and in China. UMOE will remain the largest shareholder of UAC, holding 64.4% of the shares. Remaining shareholders are NRP Zero, Yield Capital, management and other minorities.