Tomra and the Norwegian deposit return model enter Australia – backed by Eksfin financing

Norwegian deposit innovation becomes a global industry

Headquartered in Asker, TOMRA developed the world’s first automated deposit system in 1972 and is now the global market leader in collection and recycling technology. The company has approximately 113,000 installations in more than 100 countries and delivers solutions that transform waste into raw materials in a circular loop.

While most associate TOMRA with deposit machines, the company also provides a range of services across the value chain to ensure bottles and other materials are sorted, washed, and recycled. In markets such as Norway, Germany, Sweden, and Australia, TOMRA is a key player in building national deposit systems.

Tailored financing lowers barriers for deposit systems

Through a flexible leasing model, financed by Eksfin and DNB, TOMRA can offer customers long-term rental agreements instead of direct sales of machines. This financing solution has been crucial for securing contracts with supermarket chains and system operators in several countries.

CEO Tove Andersen of TOMRA points out that many countries have yet to implement a deposit system, despite clear evidence that it leads to significant reductions in littering and increased recycling of bottles and cans

“Returning bottles may seem obvious to us in Norway, but it is far from reality elsewhere. Implementing national deposit systems requires major changes for many stakeholders, and it is important to make the transition as simple and smooth as possible,” says Andersen.

Photo: TOMRA

“To succeed, authorities, grocery chains, logistics companies, consumers, and financial partners must collaborate. Financing from Eksfin and DNB allows us to tailor agreements to local customer needs, whether it concerns sales, service, or leasing. More customers are seeking ‘collection-as-a-service,’ and tailored financing gives TOMRA a significant advantage,” Andersen adds.

Financing has been decisive for major contracts in Australia and Romania, strengthening TOMRA’s position as a global player in the circular economy

International scaling enabled by financial collaboration

Eksfin has provided a loan facility of 40 million euros for so-called CIRR financing—a long-term fixed-rate loan that offers predictability over time and enables TOMRA to produce and own the machines, which are then leased to customers. DNB guarantees half of the loan.

“Together with DNB, we have found a financing solution that meets TOMRA’s needs and supports Norwegian exports. It demonstrates what can be achieved when public and commercial capital work together,” says CEO Tone Lunde Bakker of Eksfin.

“TOMRA is a prime example of how Norwegian, sustainable technology can be scaled internationally when we collaborate on solutions,” Bakker continues.

Eksfin’s financing offer applies to companies of all sizes and industries. “We can support both exporters and subcontractors, and it is important to get in touch early in the process, as we can create the greatest value then,” Bakker concludes.