03.07.2025 | News
The company’s approach to Controlled Environment Agriculture offers a circular and sustainable alternative where crops are grown in fully enclosed environments and water and nutrients are recycled in a closed-loop system.
Nefco – the Nordic Green Bank – has signed a loan agreement with VÄXA odling i Sverige AB, a Swedish agriculture company focused on controlled environment farming. The funding will support VÄXA odling’s expansion of its leafy greens cultivation systems, which have the potential to reduce environmental impacts, shorten supply chains and strengthen regional food security.
With Nefco’s support, VÄXA odling will scale its operations and introduce its high-quality leafy greens to new markets. Controlled Environment Agriculture (CEA) is a resilient farming method that addresses challenges posed by climate change, such as extreme weather, droughts, floods and pest pressures, in a sustainable and resource-efficient way. It also enables year-round crop production in regions where traditional farming is no longer viable.
“This financing from Nefco is a key driver for our expansion in Sweden. It will enable us to scale our operations and consistently deliver fresh, sustainably grown leafy greens to more stores and restaurants, all year round. Herbs, salads and other leafy greens are often imported from distant regions, but they are highly sensitive to transport and have a potentially limited shelf life. Our mission is to shorten these supply chains, extend freshness and provide high-quality, locally grown produce to consumers, regardless of weather conditions,” said Andri Guðmundsson, Chairman of VÄXA odling i Sverige AB.
“Through its Controlled Environment Agriculture operations, VÄXA odling has significant potential to positively transform modern food systems, particularly in terms of improving resource efficiency, reducing pesticide use and strengthening supply chain resilience,” said Victor Degerlund, Investment Manager at Nefco.
This financing also offers a strong demonstration effect: “VÄXA odling’s innovative use of a former mine for farming not only provides optimal growing conditions but also showcases a unique and sustainable approach to land use,” commented Degerlund.
“The collaboration with Nefco has been excellent. We share a common vision for building a more resilient and local food system. We are excited to continue working with Nefco, whose deep understanding of sustainable businesses and long-term commitment to impactful solutions adds real value to our growth journey,” Andri stated.
Agriculture remains a critical sector in the fight against climate change, contributing approximately 10% of total greenhouse gas emissions in the EU. VÄXA odling’s approach to CEA offers a circular and sustainable alternative. In its facilities, crops are grown in fully enclosed environments without pesticides, using energy-efficient LED lighting instead of sunlight. Water and nutrients are recycled in a closed-loop system, ensuring purification and reuse while preventing runoff and environmental contamination.
For more information, please contact:
Victor Degerlund, Investment Manager, Nefco
Tel. +358 10 6180 781, victor.degerlund@nefco.int
Anni Rein, Senior Communications Manager, Nefco
Tel. + 358 10 6180 852, anni.rein@nefco.int
Andri Guðmundsson, Chairman, VÄXA odling i Sverige AB
Tel. +354 834 8589, ag@vaxa.co
About VÄXA odling i Sverige AB
VAXA was founded in 2017 in Iceland and specializes in growing premium leafy greens in fully controlled indoor farms located in Reykjavík, Iceland, and since 2023, in Örebro, Sweden as VÄXA odling i Sverige AB. Through controlled environment agriculture (CEA), VAXA optimizes the use of valuable land and water resources, powered entirely by green energy. VAXA’s greens are grown without the use of pesticides, delivering fresh, clean produce while protecting biodiversity.