NorthBase secures EGF Funding with Nordea, supported by FinnVera and ELY Centre

29.10.2021 Tampere

Negotiations with Nordea Bank have resulted in a positive decision on investment funding for NorthBase-2 ground station to be built in Northern Finland. Funding is based in European Guarantee Fund collateral and further supported by Finnvera, a specialized financing company owned by State of Finland. This together with the development grant provided by Center of Economic Development, Transport and Environment (ELY Centre) complements NorthBase own funding, together providing sufficient funds for the investment.

The investment in question – NorthBase-2 ground station – is first one of its kind made by a privat e company in Finland. Ground station investments are highlighted as one of the key goals of Finnish space sector in the Finnish Space Strategy 2025 written by Ministry of Economic Affairs and Employment together with Ministry of Transport and Communications.

More information: Dr. Tommi Rasila, Founder and Chairman

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