NOK 205 MILLION RAISED – MARKET CAPITALISATION OF NOK 475 MILLION
Oslo – 14 April 2021 – Euronext today congratulates Desert Control on its listing on Euronext Growth Oslo (ticker code: DSRT).
Desert Control is a climate technology company specialised in reclaiming degraded soil and turning desert sand into fertile soil.
The company recently raised NOK 200 million through the issue of new shares and NOK 5.5 million in sales of existing shares. The private placement attracted significant interest from domestic, Nordic and international investors, focusing on ESG, sustainability, and green innovation. The capital raised will finance the company's growth plan and commercial rollout in the United Arab Emirates and the western United States.
The new shares were sold at NOK 11.69 and the company’s market capitalisation was NOK 475 million on the day of listing.
Ole Kristian Sivertsen, CEO of Desert Control, said: “There are tremendous growth opportunities in a market that is growing rapidly. Annually, 12 million hectares of fertile land perish to desertification – that's 2,000 football pitches per hour. We will create a profitable business and contribute to solving major global challenges.”
Welcome: Øivind Amundsen, President and CEO of Oslo Børs rang the bell during a virtual ceremony this morning together with Ole Kristian Sivertsen, CEO of Desert Control, to celebrate the listing of the company.
About Desert Control Desert Control is a climate technology company specialized in reclaiming degraded soil and turning desert sand into fertile soil. The patented product LNC (Liquid Natural Clay) is a liquid clay compound that enables sand and degraded soil to retain water and nutrients. LNC thus increases crop yields, while consumption of water and fertilizer decreases by up to 50%. Read more at: www.desertcontrol.com