Green industry funding

Norwegian companies planning to deliver innovative, green industrial projects across different parts of the value chain. This scheme is for companies that have, or will have, value-creating activities in Norway. Our involvement in the investment must be reasonably proportionate to the expected long-term activity it will generate.

Eligible companies have access to a solid capital base and the ability and willingness to make follow-on investments. You must be able to demonstrate a realistic capital strategy that fully funds the proposed project through to a specific risk-reducing milestone. Reaching this milestone should trigger the next round of funding, primarily from private sources of capital.

We prioritise businesses targeting international markets.

The scheme primarily supports investments, but we may also consider any additional costs associated with delivering the project.

Funding needs we can finance:

• Investments in physical assets, typically land, production facilities, machinery and equipment.
• Investments in intangible assets (long-term assets) expected to generate additional future revenue, typically patents, user rights, licences or similar capitalisable costs that cannot be linked to a physical asset.
• Strengthening your working capital alongside investments where necessary to achieve growth in Norway and/or internationally. This typically includes increased capital tied up in inventory, receivables and other growth-related costs.

We can provide funding for green investment projects, including setting up a new business, expanding an existing business, or diversifying production to include new products or services not previously offered. Investment projects under the scheme may also include fundamental changes to the production process for the product or products, or to the overall delivery of the service or services affected by the investment in an existing business.

The scheme is aimed at innovative green industrial projects. Green industrial projects must have a demonstrable environmental impact. We assess the environmental impact of the industrial development against the principles of the EU taxonomy. To qualify, your project must align with the taxonomy's holistic approach. Read more about the EU taxonomy for sustainable investments.

It is also essential that the project does not cause significant harm to the climate or the environment. We expect you to have thoroughly assessed the industrial project's climate and nature-related risks.

The scheme has been approved by ESA (Decision No 024/26/COL of 3 February 2026) under the Clean Industrial State Aid Framework (CISAF) guidelines. The ESA decision provides the legal basis under EEA law for awarding funding.

Green industrial financing typically provides loans ranging from NOK 50 million to NOK 500 million. We can finance up to 50% of the project's total capital requirement and up to 100% of its borrowing requirement.

The loan has a flexible disbursement structure, usually linked to agreed project milestones.

You must provide collateral for the loan. We assess the collateral requirements on a case-by-case basis, based on our assessment of the risks associated with your company and the project. As a rule, adequate collateral (assets that would cover the loan if subject to forced sale) must amount to at least 20% of the loan amount. 

We tailor the repayment period for Green Industrial Financing to your project. It is normally up to 30 years for land and buildings, and up to 15 years for machinery, production equipment and other fixed assets. Loans for intellectual property rights may have a term of up to 10 years, while loans to strengthen working capital normally have a term of up to five years.

We may offer interest-only periods during the loan term.

We only offer a variable interest rate, which we calculate individually for each project. The interest rate is based on the reference rate (three-month NIBOR), plus a margin that reflects the overall risk and interest subsidy. We normally offer loans on subsidised terms, within the limits permitted by notification to ESA and the state aid rules. We may also offer the loan on commercial terms.

You must cover all our costs for external legal assistance in connection with setting up the loan agreement. 

In addition, we charge an arrangement fee, normally 0.5% of the loan amount.

If your company accepts the offer but the loan is not disbursed, we will charge a cancellation fee of 0.5% of the loan amount.

Changes to the loan agreement after we have made an offer will incur a fee at the applicable rates.

The final scheduled repayment includes an upside payment. The upside payment is a variable proportion of the loan amount that partly covers the risk premium and costs accrued over the term of the loan. The upside payment is capped at 25% of the nominal loan amount and will be reduced proportionately if the loan is not disbursed in full.

View the loan interest terms

The scheme has been approved by ESA (Decision No 024/26/COL of 3 February 2026) in accordance with the Clean Industrial State Aid Framework (CISAF). ESA's decision provides the legal basis under EEA law for awarding grants.

You may qualify for subsidised loans to invest in industrial projects involving certain strategically important green technologies:

1. the production, including from secondary raw materials, of the final products listed in Annex II to CISAF; and/or

2. the production, including from secondary raw materials, of the key specific components listed in Annex II to CISAF; and/or

3. the production of new or recovered related critical raw materials needed to produce the final products or key components defined in points (1) and (2) above.

'Secondary raw materials' are recycled materials that can be used in a production process instead of, or alongside, virgin raw materials.

'Critical raw materials' are materials listed in Regulation (EU) 2024/1252

We have notified ESA of green industrial financing under the following block exemptions:

• Aid for investments in environmental protection measures, including decarbonisation (GBER Article 36)
• Aid for investments in energy efficiency measures other than in buildings (GBER Article 38)
• Aid for investments to promote renewable energy sources, renewable hydrogen and high-efficiency cogeneration (GBER Article 41)
• Aid for investments in resource efficiency and the transition to a circular economy (GBER Article 47)
• Investment aid for SMEs (GBER Article 17)
• Regional investment aid (GBER Article 14)

We can also provide funding on commercial terms, provided you can offer adequate security and demonstrate your ability to service the loan.

Does your company have a project you would like to discuss with us? Get in touch with a customer adviser at your regional office.

Agder: Roar Flatland

+47 48 11 48 58 / roar.flatland@innovasjonnorge.no

Arctic: Bjørn Fagervik

+47 99 25 08 54 / bjorn.fagervik@innovasjonnorge.no

Innlandet: Ove Jahren

+47 95 85 85 52 / ove.jahren@innovasjonnorge.no

Møre og Romsdal: Anne Karine Folge

+47 97 18 96 26 / anne.karine.folge@innovasjonnorge.no

Nordland: Monica Ahyee

+47 91 32 96 55 / monica.ahyee@innovasjonnorge.no

Oslo Viken: Tomas Ruud

+47 97 96 46 32 / tomas.ruud@innovasjonnorge.no

Rogaland: Kjell Even Fossum

+47 94 78 28 28 / kjell.even.fossum@innovasjonnorge.no

Trøndelag: Ingunn Nervik Isaksen

+47 90 99 77 73 / ingunn.nervik.isaksen@innovasjonnorge.no

Vestfold and Telemark: Reidun L. Myhra

+47 95 14 50 68 / reidun.loite.myhra@innovasjonnorge.no

Vestland: Aslak Sverdrup

+47 93 23 17 91 / aslak.sverdrup@innovasjonnorge.no

Does your company have a project you would like to discuss with us? Get in touch with one of our customer advisers:

Carsten Werner

47 97 71 33 06 / carsten.wener@innovasjonnorge.no

Camilla Albertsen Groth

+47 95 81 94 02 / camilla.albertsen.groth@innovasjonnorge.no

Jan Gurvin

+47 90 07 44 47 / jan.gurvin@innovasjonnorge.no

Sigbjørn John Huun

+47 91 60 88 51 / sigbjorn.john.huun@innovasjonnorge.no

Hege Buer

+47 94 81 33 19 / hege.buer@innovasjonnorge.no