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Advance Capital is pleased to announce the successful completion of an investment round for Green Ocean, a producer of a new class of oil spill sorbents. The investors included the Swedish investment fund Ruric AB and Maxim Sokov, CEO of En+ Group.

The company’s production facilities are located in Russia and Latvia.

The funds raised will be used to expand production capacity and develop sales across the markets of Russia, North America, Europe, and Asia. The company also plans to introduce new solutions for industrial sites with a high risk of oil product and hazardous liquid spills.

Evgeny Antipov, Partner and Managing Director at Advance Capital:

“This deal confirms the strong reputation of our team in the market and our ability to attract financing for innovative companies from both Russian and international investors.”

Advance Capital acted as the exclusive financial advisor to Green Ocean.

The deal value is not disclosed.