Dutch investment firm Van Thuijl Multi Family Office has taken a direct equity position in Norwegian vertical farmer Grønt fra Nord AS, marking the company's first institutional backer since completing a court-supervised restructuring earlier this year. "We are proud to announce that Van Thuijl Multi Family Office has organized the recent investment round for Grønt fra Nord AS, led by Diego Salvatierra," said Leonard van Thuijl. "The vertical farming sector is at a turning point, moving globally from an experimental phase toward a phase of solid, proven results. For us, this is the ideal moment to step in with a sharp focus on profitability and local impact."
The size of the investment has not been disclosed. It runs alongside a separate public convertible loan round currently targeting 6,000,000 NOK, of which 66% had been subscribed at the time of publication. Van Thuijl, who will take on board responsibilities within the broader Grønt fra Nord corporate structure, said the decision was driven primarily by conviction in the founding team. "We do invest in an idea, but we mostly invest in a team," he said, adding that the way founder Marius Johansen and his network handled the restructuring period had given the MFO confidence in the business, noting that unexpected events can occur in any business, and that the determining factor is how a founder and team respond.
© Gront Fra Nord
Two tracks, one raise
The equity investment from Van Thuijl MFO is distinct from the crowdfunding campaign currently open on Grønt fra Nord's investment page. The MFO entered directly on the ownership side as a minority shareholder, while the convertible loan round targets a broader base of investors at a minimum subscription of 10,000 NOK.
Van Thuijl's position was organized through Diego Salvatierra, the largest investor in Van Thuijl MFO, who has delegated Leonard van Thuijl to represent the investment and take on governance responsibilities across the entities that will form part of the Grønt fra Nord sphere. Van Thuijl described the MFO's position as that of a co-manager rather than a passive investor, noting that the firm will assist on matters Marius and his team choose to involve them in.
A broader corporate structure takes shape
Alongside the capital raise, Grønt fra Nord is building out a more complex group structure. Johansen described several distinct entities in development, covering operations, real estate, equipment, development projects and intellectual property, each with its own board composition and financing sources.
"For the operating company, Grønt fra Nord AS, I am the founder and Managing Director," Johansen said. Christine Hagen serves as COO, and Arshad Kadevalappil as Head of R&D, with both playing central roles in the production scale-up. Johansen noted that their responsibilities may evolve across the different companies as the group structure develops.
Mads Pinnerød, who joined as interim CFO in mid-April, said his focus to date has been on understanding and validating the company's financial structure and supporting ongoing investor dialogue. "I am highly optimistic about the company's future," Pinnerød said, "with a clear focus on scaling the business, improving efficiency, and driving sustainable growth." Going forward, he will take a central role in capital structuring and future equity raises.
Ramp-up: controlled over quick
The company restarted production on 1 March and has been stepping up output incrementally, targeting 50% capacity in March, 70% in April and May, and full capacity from June. Johansen confirmed the ambition remains in place but said the company is managing the process deliberately.
"After the restructuring period, it is important for us not just to grow quickly, but to grow in a controlled and financially responsible way," he said. Van Thuijl said the company expects to double production capacity under the guidance of Hagen and Kadevalappil as a later-stage objective, dependent on capital investment in lighting and climate optimization. In a further stage, advanced production methods will be implemented to structurally increase yield per m².
Hagen leads the operational side of the ramp-up, while Kadevalappil's R&D work focuses on plant performance, production methods and growing process optimization. Pinnerød noted that once the restructuring phase is financially secured, the company and its investors will evaluate targeted investments aimed at improving productivity and laying the groundwork for a future equity raise.
Securing the Fauske facility
Acquiring the production facility in Fauske is an explicit priority for the next phase of development. Grønt fra Nord has prepared an investment case for the site and surrounding land and is actively seeking real estate investors interested in it as a commercial property opportunity in northern Norway.
"Securing a stronger structure around the property would create a much more stable foundation for further growth," Johansen said. The facility acquisition, if completed, would lower operational costs and give the company full control over its premises, two objectives Van Thuijl described as central to the company's long-term autonomy.
Norway as a structural advantage
Van Thuijl cited the founding team, Norway's conditions for indoor growing, and the scalability of the model as the basis for the investment decision. Pinnerød echoed the location argument, pointing to low energy costs and proximity to key markets as structural advantages that support the company's ability to increase utilization and strengthen profitability as production volumes rise.
Van Thuijl described the current position as the beginning of a longer relationship with multiple directions of growth to come. "Norway offers a unique climate for this industry due to the combination of low energy costs and a high import rate," Van Thuijl said. "Both the government and supermarket chains are eager to reduce their reliance on imports, and Grønt fra Nord provides the regional answer."
He added that the current stake is intended as the foundation for a broader position in the Norwegian vertical farming market, mentioning that the MFO has investors with varying preferences and expects different backers to come forward as each direction of growth develops. "We see our initial investment as a seed investment," he said, "and we have identified a lot of potential in growing the business with Marius."
For more information:
Grønt Fra Nord
Marius Johansen, Founder
+47 900 20 797
[email protected]
www.grontfranord.no
