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Nuhma
Nuhma works on behalf of the Limburg municipalities to sustainability, energy and innovation through targeted investments. The guiding principle is the social v
Nuhma
Nuhma works on behalf of the Limburg municipalities to sustainability, energy and innovation through targeted investments. The guiding principle is the social v
General information
Firm type
Generalist
Year founded
2001
AUM
Undisclosed
Location
Region
Europe
Country
Belgium
City
Hasselt
Corporate office
Herkenrodesingel 14, 3500 Hasselt, Belgium
Principals
Ludo Kelchtermans
CEO
Mark Vanleeuw
Chairman of the Board of Directors
Sector focus
Frequently asked questions
Who owns Nuhma?
Nuhma is a cooperative vehicle (cv) whose shareholders are 38 Limburg municipalities plus the municipality of Laakdal. It functions as a regional public-utility investment arm rather than a private family office or traditional asset manager.
How does Nuhma source its energy investments?
Nuhma originates investments through its municipal shareholder network and strategic partnerships across Limburg and the Belgian North Sea. It frequently co-invests with LRM (Limburgse Investeringsmaatschappij) on energy projects within the province, combining public-sector alignment with private-sector participation structures.
What does Nuhma’s offshore wind portfolio include?
Nuhma holds interests in five of Belgium’s nine offshore wind parks, including the Rentel and SeaMade concessions in the Belgian North Sea. Citizen cooperants can co‑invest in the same parks through the ECO2050 cooperative vehicle.
Is Nuhma a single family office or does it operate like a venture firm?
Neither. Nuhma is structured as a public-cooperative investment company owned by municipalities. Its smart-technology pillar takes minority participations in companies such as EnergyVille, 3E, and Citymesh, which resembles venture-style exposure, but the firm is governed by municipal shareholders with a statutory decarbonization mandate.
How does Nuhma involve citizens in its investments?
Through its ECO2050 cooperative subsidiary, which had raised €9.6 million from 1,232 cooperants as of 31 December 2025. The funds are deployed into the offshore wind parks Rentel and SeaMade, giving individuals direct economic participation in the same assets Nuhma holds at the municipal level.
Does Nuhma publish financial statements or AUM?
Nuhma does not publicly disclose AUM or a consolidated deployment figure. It reports green-power production data in real time on its website and separates its activities into three pillar disclosures: energy participations, smart-technology holdings, and cooperative citizen finance.
How is Nuhma related to LRM?
LRM (Limburgse Investeringsmaatschappij) is a frequent co-investment partner on Limburg-based energy projects. While LRM is the regional investment company for economic development, Nuhma is the dedicated climate-investment vehicle for the province’s municipalities, and the two entities often collaborate on local energy and infrastructure deals.
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