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Soiltech secures bank financing to support growth

By 05/01/2023No Comments2 min read

Soiltech has entered into a long-term loan facility with Sandnes Sparebank, “Den Gule Banken”. The 7-year loan facility is NOK 75 million and includes a refinancing of the existing facility of NOK 50 million.

Stig H. Christiansen, CEO in Soiltech, comments; “We are very pleased to have refinanced our main loan facility with Den Gule Banken at competitive terms and with a 7-year maturity. Soiltech anticipates a multi-year upturn in the market for drilling waste management, an upturn driven by the challenges posed by increased market activity and the energy transition. In the longer term we see growth opportunities in new geomarkets and industry verticals where contaminated water is a challenge. Our purpose is to address these challenges by providing clean technologies and solutions, and we are continuing to invest to be well positioned as opportunities present themselves. The loan facility with Den Gule Banken is an important element in this growth plan, one which may – as indicated earlier – be further solidified through an up-listing from the current NOTC listing when the time is right”.

About Soiltech
Soiltech is an innovative cleantech service provider specializing in the treatment, recycling and responsible handling of contaminated water and solid industrial waste streams. Soiltech’s purpose is to provide clean technologies for a greener future through the reduction, recovery and reuse of contaminated water and solid industrial waste streams.  The Company’s fully integrated drilling waste management technologies and solutions represent Best Available Technologies. Soiltech designs, builds, owns and operates its treatment technologies, providing services in close cooperation with the customer on their sites. The Company also offers biodegradable chemistry and solutions for treatment of produced water and contaminated water in the aquaculture and other industries.

Soiltech is headquartered in Norway, and operates world-wide with offices in Norway, UK, the Netherlands and Abu Dhabi.

Soiltech is listed on Euronext NOTC in Norway under the ticker SOIL