Raised NOK 200 million to fund scale-up!
April 6th, 2021 the private placement of NOK 200 million to fund the Desert Control growth plan was officially approved. The fundraising received significant interest from Norwegian and international investors, focusing on ESG, sustainability, and green innovation. The capital will finance the company's growth plan and commercial rollout in the United Arab Emirates before entering the United States and other key markets.
- LNC has successfully passed scientific validation by independent research for both the agriculture and landscaping segment.
- Water and fertilizer savings of 20-50% while improving soil health, biodiversity, carbon uptake, and crop yields: A nature-based solution proven to successfully convert deserts into fertile land.
- The first prototype mobile factory for LNC volume production started field trials in March, and was recently featured on CNN Think Big.
Our next step is turning the prototype into a robust and highly scalable LNC production platform, develop significant delivery capacity in the United Arab Emirates, and generate positive cash flow to accelerate further growth.
Mid-April Desert Control will become a public company listed on the Euronext Growth index of the Oslo Stock Exchange under the ticker DSRT.