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The Swedish elections are now behind us and the American midterms are drawing closer. The geopolitical situation remains tense as the war in Ukraine rages on  
with increased aggression from Russia. 
 

The InnovateNordics 2022 Program is in full swing, and October 12th marked the date for the first Pitch and Investor Summit, held at EY Lounge in Stockholm, Sweden. At the summit, eight SACCNY and Deloitte-nominated GreenTech scale-ups had the opportunity to pitch in front of an audience of potential investors, partners, and customers. The summit also included presentations by notable industry panelists and keynote speakers. The companies are heading over to New York for the final Pitch Summit at Nasdaq Market Site on November 16th, where two companies will be crowned the winners and awarded the SACCNY-Deloitte Green Award and the EY-award.

For more information about the contestants, please see below. 

Attendees listening to pitches and panels at EY
Elise Lindow and Josephine Daly Templaar, founders of Rawstraw
Max Mohammadi, co-founder of Plasticfri pitching at EY
Keynote speaker Mark Evans, Deputy Chief of Mission at the U.S. Embassy in Stockholm
October 27th, SACCNY is hosting a speaker luncheon featuring H.E. Olof Skoog, EU Ambassador to the UN in New York, and Mr. Mats Torstendahl, Deputy President and CEO at SEB. Please join us at Gateway for a conversation on the current geo-political climate and its impact on data privacy.  
RSVP HERE

On Friday September 30th the SACCNY community gathered for the annual Crayfish Party, held at the residence of the Swedish Consul General on Park Avenue.  

The crayfish feast is a Swedish festivity typically marking the end of summer. The tradition, dating back to the mid-19th century, gathers people to eat, drink and be merry, and this evening was no exception. The evening was filled with song and delicious food prepared by the chef of the Swedish Consulate General, Simon Hoas. 

We would like to extend a special thank you to our wonderful toastmaster, Per Stahle as well as the Swedish Consul General, Camilla Mellander, for lending us her beautiful residence this evening.  
 
 

An evening filled with song, laughter, and delicious food
Top news from SACCNY's community of members and beyond.
 
DAGENS NYHETER |Amazon is buying heavy all-electric trucks from the Swedish truck giant AB Volvo for its German vehicle fleet. Volvo is set to deliver 20 electric trucks to Amazon before the end of the year, which Amazon considers an “important milestone” in the company’s work towards minimizing carbon emissions in its transportation system.  
 
DAGENS INDUSTRI 🇸🇪 | InnovateNordics-company ENJAY launched its energy recyclers back in 2019. The products make it possible to recover heat in the air from restaurant kitchens without the need to clean the air from grease and soot, and are now in high demand following the high energy prices in Europe. The company is now working with many large fast food companies including Burger King, KFC, Five Guys, and Chipotle.  
DAGENS INDUSTRI 🇸🇪 | Jio, India’s largest mobile operator, chooses Ericsson to execute their plans for a 5G network. India is one of Ericsson’s biggest markets with a population of 1,4 billion and, according to Jio, the 5G expansion is set to be completed in just one and a half years.  
VOGUE | This fall, renowned Swedish chef Marcus Samuelsson, known in New York for his popular restaurant Red Rooster, is opening Hav & Mar in Chelsea. Hav & Mar, Samuelsson's latest project, has a clear focus on sustainability and diversity. Samuelsson says the idea was greatly influenced by the past two years’ pandemic. “During the pandemic, I really thought about going back to nature,” He says. “I was asking myself: What are the restaurants post-pandemic going to look like? What’s important to me?” He found his answer in ancestral foods. Hav + Mar combines the Swedish word for “ocean” and the Amharic word for “honey.” 
FORBES| Americans will head to the polls on Nov. 8, for midterm elections. Researchers at the University of Canterbury think this might be a very good thing for a stock market that could use a jolt of positive momentum after a terrible year so far. 
AVIATION24.BE| As winter approaches, Scandinavian travelers setting out to escape the dark will be provided with a wide range of routes across the Atlantic, as SAS is gearing up to meet demand on its U.S routes. There will be 130 weekly departures between the Scandinavian capitals and destinations in the United States, including new routes to Miami and Boston. Flight traffic will also be increasing on domestic and European routes. 
Gateway is pleased to announce a new member; the Swedish EdTech company Magma Math, which specializes in online math education. The platform provides students with a wide array of problem-solving tasks and enables teachers to follow student progressions in real-time, individualizing students’ learning journeys. Magma Math was launched in the U.S. in 2021 and has since quickly gained popularity, and we are excited to follow their journey onto the American market.
READ MORE
THE ATLANTIC | The Climate Economy Is About to Explode 

Late last month, analysts at the investment bank Credit Suisse published a research note about America’s new climate law that went nearly unnoticed. The Inflation Reduction Act, the bank argued, is even more important than has been recognized so far: The IRA will “will have a profound effect across industries in the next decade and beyond” and could ultimately shape the direction of the American economy, the bank said. 

BREAKIT | The Stockholm School of Economics starts private equity fund

The Stockholm School of Economics is launching its own private equity fund at the initiative of Julia Delin. The university’s own incubator, SSE Business Labs, has now chosen eight promising Swedish start-ups who will be offered investments from the fund: Chip, Biosphere Intelligence, Nilo Collaborations, 1-Fits-All, Fleetm8, Norn, Polotype, and Tilly. 

SACCNY Memberships
Learn more about our different membership levels and benefits here.
More top picks for the Swedish-American business community.
REUTERS | The Swedish elections were held on September 11th and after all the ballots were counted, results showed the right-wing block consisting of the Moderate Party, the Christian Democrats, The Liberal Party, and the Sweden Democrats won with a slight majority in parliament. On Monday, October 17th, after one month of negotiations between the four parties, it was announced the new government would consist of the Moderate Party, the Liberal Party, and the Christian Democrats while working closely with and seeking support from the Sweden Democrats in questions like criminality, immigration, and healthcare. 




 
SVENSKA DAGBLADET 🇸🇪 Four gas leaks have been discovered on Nordstream 1 and 2, following what is suspected to be an act of sabotage. The pipelines, transporting natural gas from Russia to Germany through The Baltic Sea, were attacked on September 26th and seismologic data shows evidence of explosions on the pipelines. The area surrounding the leakage has been closed off, and further investigations into possible causes and risks following the attack have been initiated.   
THE NEW YORK TIMES |The winners of this year’s Nobel Prize in Chemistry, Physics, Medicine, and Literature have been announced. The Nobel Laureates will, after two years of the pandemic, be the first winners to attend the Nobel Dinner and Award Ceremony in Stockholm, Sweden on the 10th of December. 

 
THE NEW YORK TIMES | America’s economy is facing a marked — and intentional — slowdown as the Fed raises interest rates to chill demand and drive down price increases, the kind of pullback that would usually result in notably higher unemployment. But officials are still hoping to achieve a soft landing in which growth moderates without causing widespread job losses. A few have speculated that today’s staffing woes will help them to pull it off, as companies try harder than they have in the past to weather a slowdown without cutting staff. 
THE GUARDIAN | UN Body Reaches Long-Term Aviation Climate Goal of Net Zero by 2050 
A United Nations body has agreed to a long-term aspirational goal for aviation of net-zero emissions by 2050, despite challenges from China and Russia, as countries aligned overwhelmingly with airlines amid pressure to curb pollution from flights. Nevertheless, environmentalists criticized the non-binding nature of the agreement as toothless. 

THE ECONOMIST | Can Europe decarbonize its heavy industry?
Swedish steel is considered the world’s toughest. It may soon become its greenest. In Boden, a town near the Arctic Circle, a startup called H2 Green Steel (H2GS) is erecting a €4bn ($4bn) new mill, Europe’s first in nearly half a century. It will be powered not by the usual coal or natural gas but by green hydrogen, produced on-site by the region’s abundant wind and hydropower. The project matters far beyond sparsely populated northern Sweden. It could, in short, thinks Ann Mettler of Breakthrough Energy, a venture-capital fund backed by Bill Gates, mark the rebirth of Europe’s heavy industry for the post-fossil-fuel era. 
SACCNY is proud to present the eight Swedish Green-Tech companies participating in the InnovateNordics Acceleration Program and Pitch & Investor Summit 2022! This carefully selected group of companies all face exciting journeys with expansion and/or acceleration plans in the U.S. market. During the fall the companies have participated in a virtual U.S. Acceleration Program hosted by SACCNY which has featured multiple workshops ranging from Pitching to Marketing & Communications in the U.S., as well as B2B Matchmaking and 1:1s with legal experts, pitch experts and personal mentors.
Let’s meet the eight companies! 
Rawstraw produces 100% natural drinking straws made of rye. Their product utilizes a by-product of rye production, meaning that the raw material used does not contribute to greenhouse gas emissions, as well as making the straws biodegradable.
BioCell Analytica offers effect-based methods to detect chemical contaminants in the 
environment. BioCell Analytica’s methods can be used to ensure drinking water safety, wastewater treatment efficiency, surface water quality in environmental monitoring as well as to evaluate efficiency of novel treatment techniques for water.
PlasticFri is a cleantech company aiming to minimize the environmental impact of conventional petroleum-based plastic by making an environmentally friendly alternative. The company’s products are 100% compostable, biodegradable, and toxic-free.
Northe’s vision is to simplify the transition from fossil fuel-driven cars to electric, focusing on the end-user. They provide drivers with an exceptional charging tool, companies with a platform that simplifies payments and administration, and charge point facilitators with the availability to integrate a simple payment solution for their stations. 
Enjay specializes in energy efficiency in hostile environments. They have developed a technical platform that is able to recover energy in polluted airstreams where existing technologies are unable to operate. Enjays’s first innovation, Lepido, is a heavy-duty heat exchanger for polluted exhaust air. It makes energy recovery in impossible environments not only possible but also profitable.
C-Green is an innovative process engineering company with a complete solution to efficiently convert large amounts of sludge into biocoal. A single OxyPower HTCTM plant can convert 30,000 tons of sludge – the amount generated from the treatment of wastewater from 300,00 people – into 5,000 tons of biocoal – while at the same time eliminating pathogens, removing pollutants, increasing biogas production, eliminating greenhouse gas emissions and saving money.
Since 2014 Grönska has developed, built and tested vertical farming technology. In 2018, Grönska inaugurated one of Europe’s largest vertical farms, in the outskirts of Stockholm. GrowOff by Grönska enables produce to be grown locally which means they are always freshly harvested. Not only does this make the produce taste better, but it also increases shelf life which in turn reduces waste. 
ClimateView is a Swedish company that has created a solution that helps climate planners and decision-makers in cities create transparent climate action plans. This dynamic planning and visualization tool helps cities and municipalities reduce their carbon footprint in accordance with global climate targets.
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