AGP Executive Report

Food-System Cybersecurity: Hackers exploited connected refrigeration controllers in about 700 French supermarkets, reportedly spoiling millions of euros’ worth of food. Danish manufacturer Danfoss equipment was among the systems targeted, putting a spotlight on the risks of outdated firmware and internet-connected industrial controls. Renewable Investment: Impact Fund Denmark and Norway’s Norfund are taking a 49% stake in a 500MW solar project in the Philippines, expanding Danish-backed investment in overseas clean energy. Shipping and Ports: A.P. Moller Capital agreed to acquire Singapore-based Portek International, adding port operations to the Danish investor’s logistics portfolio. Offshore Wind: Danish renewable investor CIP joined the UK’s Five Estuaries wind project, while DEME won a contract to install 69 turbines at the Zeevonk offshore wind farm. Life Sciences: Zealand Pharma struck an AI drug-development partnership with Generate Biomedicines, in a deal worth up to $1.2 billion. Economic Conditions: Denmark’s annual inflation was 2.1% in September, among the EU’s lowest rates, even as euro-area inflation rose to 3.8%.

Carbon Costs: Denmark and Sweden opposed weakening the EU carbon market as leaders agreed to review the planned expansion of emissions pricing to heating and transport, without delaying its start. The debate matters to Danish industry facing high energy costs. Cybersecurity: A hack that overheated refrigerators at hundreds of French supermarkets has exposed risks in connected equipment. Danish manufacturer Danfoss says affected controllers ran old firmware, underlining the need to secure and maintain industrial systems. Shipping and Logistics: A.P. Moller Capital agreed to buy Singapore-based Portek International, adding port terminals and engineering operations across six countries to its portfolio. Renewable Energy: Danish fund manager CIP joined the UK’s Five Estuaries offshore wind project, while DEME won a contract to install turbines at the Zeevonk wind farm. Biopharma: Denmark’s Zealand Pharma signed a drug-discovery partnership with US firm Generate, valued at up to $1.2 billion.

Greenland Resources: Greenland’s parliament backed a proposal to draft a ban on deep-sea mining and exploration through 2029, citing environmental uncertainty and the importance of fisheries to local livelihoods. Connected Equipment Security: A cyberattack on French supermarket refrigeration systems has put Danish supplier Danfoss in focus; the company said outdated equipment lacking security updates was affected. Carbon Market: Denmark, Sweden and Finland urged the EU not to weaken its emissions trading system, warning that policy uncertainty could deter industrial investment and slow decarbonisation. Offshore Wind: Danish investment group CIP acquired a 25% stake in the UK’s Five Estuaries offshore wind project.

Greenland Resources: Denmark says US investors get no special access to Greenland’s minerals and must follow local laws, pushing back against President Trump’s claim that major exploration is about to begin. Ports and Logistics: A.P. Moller Capital has agreed to buy Singapore-based Portek, adding interests in seven ports across Africa, Asia and Europe to its portfolio. Retail Automation: Salling Group is testing humanoid robots to restock Føtex shelves overnight, aiming to free staff for customer service as the technology develops. Aquaculture: Danish feedmaker BioMar has launched BioRetain, a formulation approach designed to improve nutrient use and give the company more flexibility with raw materials. Food Supply Chains: Nordic certified seafood volumes rose 9% last year, but tighter cod supplies are shifting sourcing toward pollock and mixed whitefish. Regional Aviation: Alsie Express remained loss-making despite a DKK21.5 million foundation donation, leaving the carrier working to restore its depleted equity.

Food & Retail Technology: Denmark’s biggest retailer is training robots for overnight supermarket shifts. A cyberattack on Danfoss refrigeration controllers also exposed outdated firmware, disrupting cold storage at hundreds of European stores. Digital Infrastructure: French cloud provider Scaleway plans an Nvidia-powered computing site in Copenhagen, while Danish AI legal-research startup Pandektes raised €13.5m in Series A funding. Biotech: Zealand Pharma agreed to partner with Generate Biomedicines on AI-designed treatments for metabolic disease, in a deal worth up to $1.2bn. Energy & Industry: Port of Aalborg selected a supplier for shore power and battery storage. Greenland officials also pushed back on Donald Trump’s claim that major oil and mineral exploration is imminent, saying projects could take years and the US-Denmark security deal grants no drilling rights.

Cybersecurity: Danfoss refrigeration controllers were implicated in attacks that overheated equipment at hundreds of French supermarkets, spoiling food and causing fires. Danfoss said affected systems were older models with outdated security software. Biopharma: Zealand Pharma has struck an AI drug-development collaboration with Generate Biomedicines, with potential payments of up to $1.2 billion. Digital Infrastructure: Scaleway plans to open an Nvidia-powered computing site in Copenhagen, adding capacity for AI and other data-intensive work. Greenland Resources: Donald Trump says oil, gas and mineral exploration is being prepared, but gave no details on companies or timing. Greenland halted new oil and gas licences in 2021, and exploration would still face regulatory hurdles. Business Links: Vietnam’s president is due in Denmark next week to meet business leaders and visit a quantum lab, with talks set to cover green solutions, health and food.

Cybersecurity: Danish manufacturer Danfoss says hackers exploited older refrigeration controllers at supermarkets across Europe, heating units to 50°C and spoiling food; fires were also reported. The company says the affected models no longer receive security updates, and no attacker has been identified. Infrastructure: A reported cyber incident at the contractor building the Denmark–Germany Fehmarn Belt tunnel knocked central systems offline and disrupted construction; the cause and extent remain unclear. Biotech: Zealand Pharma will work with US firm Generate Biomedicines to develop AI-designed protein treatments for obesity and other metabolic diseases. Zealand is expanding beyond peptide drugs in a deal offering Generate up to nearly $1.2 billion in milestones, plus royalties. Clean Energy: Copenhagen Infrastructure Partners has acquired a stake in the planned Five Estuaries offshore wind project off England’s east coast. Aalborg’s port has also selected a supplier for shore power and battery storage. AI Adoption: Denmark leads the EU in workplace AI use, with 42% of firms adopting the technology, according to a report.

Food-System Cybersecurity: A cyberattack disrupted refrigeration at hundreds of French supermarkets, spoiling food and triggering fires. Danish supplier Danfoss said many affected controllers were older models no longer receiving security updates; investigators are still probing how the systems were accessed. Data Security: A breach linked to Odense IT firm Pays exposed about 8.8 million Danish records, including CPR numbers and addresses, after attackers allegedly abused the company’s authorised access to the national register. Green Transport: Impact Fund Denmark invested about $34.5 million in India’s GreenCell Mobility, supporting plans to add roughly 4,500 electric buses and expand its fleet beyond 5,000. Maritime Engineering: Finnish propulsion maker Steerprop won a contract to equip new Royal Danish Navy environmental vessels. Biotech: Copenhagen-based Genmab reported third-quarter DARZALEX sales of $4.24 billion worldwide, from which it earns royalties.

Cybersecurity: Hundreds of French supermarkets reported refrigeration failures after hackers remotely triggered defrost cycles in systems supplied by Danish manufacturer Danfoss, spoiling food and reportedly causing fires. Danfoss said affected units ran outdated firmware; French authorities are investigating. Maritime Engineering: Finland’s Steerprop will supply propulsion packages for three multi-role environmental vessels being built for the Royal Danish Navy, combining environmental response and defence capabilities. Retail Automation: Danish supermarkets are testing humanoid robots for night shifts, exploring how automation could support store operations. Energy Costs: District-heating bills in Denmark are expected to rise next year as energy prices increase. Agribusiness: Denmark has awarded Uganda’s horticulture sector a $300,000 grant to improve export compliance and test lower-cost sea freight for avocados and other produce.

Biotech: Danish startup Algiecel has opened an industrial-scale microalgae facility at Novonesis in Kalundborg, aiming to produce fish-oil alternatives for pet food and cosmetics. Renewable Energy: European Energy secured £28.8 million in construction financing for a 45.5MW solar farm in Bedfordshire, its first UK project financed with Jyske Bank. Critical Minerals: Greenland Mines welcomed EU strategic-project status for Neo’s Silmet 2.0 rare-earth facility in Estonia, pointing to Greenland’s Sarfartoq project as a potential future source of material. Automation: Denmark is testing humanoid robots for supermarket night shifts, as retailers explore new ways to staff overnight operations. Pharma: Novo Nordisk has applied for South Korean insurance coverage of Wegovy, seeking to widen access to the Danish company’s obesity drug. Brewing: Carlsberg plans to close its Marston’s brewery in Burton, putting 310 UK jobs at risk.

Brewing: Carlsberg faces an environmental setback in India, where regulators ordered its Alwar brewery shut over emissions reportedly nearly eight times the limit and gaps in pollution monitoring. The Danish brewer also plans to close its Marston’s brewery in Britain, putting 310 jobs at risk. Shipping: Maersk has raised its emergency fuel surcharge to 20% for UK and Irish shipments as conflict disrupts routes and pushes up costs. Industrial Exports: Danish engineering group FLSmidth won a $54 million order for a copper-mine project in Chile. Textiles: Denmark has launched a new textile strategy, as the industry faces growing pressure to reduce waste and improve circularity. Digital Services: Audible plans to launch in Denmark, Norway and Finland in 2027, with localised services and pricing.

Textiles: Denmark launched a new textile strategy as the sector faces growing pressure to reduce waste and improve circularity. Shipping: Maersk raised fuel surcharges on UK and Ireland routes to 20%, citing disruption linked to the Middle East conflict. Global expansion: Carlsberg agreed to acquire PepsiCo bottlers in Armenia and Georgia, extending its international bottling business. Power capacity: Denmark’s new emergency electricity-grid plan puts data centres at the back of the queue, highlighting competition for grid access. Ports and clean fuels: New SafeSBU guidance aims to help ports accelerate their transition to green fuels. Marine protection: Denmark plans two new marine nature parks with DKK 67.8 million in funding, while digital maps are being developed to help protect biodiversity in Danish waters.

Food & Drink: Carlsberg agreed to acquire Pepsi bottlers in Armenia and Georgia, bringing both operations into a unified South Caucasus business alongside Azerbaijan. EU Funding: Ireland’s draft for the 2028–34 budget proposes €141 billion in cuts; Denmark is among the countries pushing for a smaller budget, with agriculture and regional funds facing relatively modest reductions. Power & Data: Denmark’s parliament adopted an emergency electricity-grid plan that puts data centres at the back of the queue, prioritising other demand for scarce capacity. Defence Technology: Danish software company Systematic won a contract for an AI-based command-and-control system to counter drones. Textiles & Materials: Denmark launched a new textile strategy, while CRH agreed to acquire NCC Industry operations in Denmark and Finland.

EU Budget: Ireland’s draft trims €140 billion from the EU’s 2028–34 budget. Denmark is among six countries pushing for deeper cuts, though the proposal limits reductions to 3% for agriculture and regional development while cutting competitiveness funding by 13%. Green Shipping: Danish Shipping has launched free BIO-Route maps to help vessels plan journeys around sensitive marine habitats, aiming to reduce harm through small operational changes. Defence Technology: Danish firm Systematic won a counter-drone command contract as Denmark steps up its response to drone threats. Textiles and Farming: Denmark has launched a new textile strategy, while fruit and vegetable growers will be exempt from fertilizer restrictions due in 2027.

Maritime Biodiversity: Danish Shipping has launched BIO-Route, a free planning tool that maps sensitive marine areas to help ships reduce impacts from noise, light and discharges. Research Talent: International PhDs are filling a growing gap in Nordic universities; foreign nationals received 44% of Denmark’s doctoral degrees in 2024, the highest share in the region. Textiles: Denmark has launched a new textile strategy as the industry faces mounting pressure to cut waste and improve circularity. Green Shipping: Danish project SafeSBU has published guidance to help ports and operators manage risks as they adopt fuels such as methanol, ammonia and hydrogen. Logistics Investment: Copenhagen-based Urban Partners has sold ten Finnish logistics properties to Catena for €191 million, expanding the Swedish group’s footprint in Finland. Brewing: Carlsberg plans to close its Marston’s brewery and logistics operation in the UK from 2027, putting 310 jobs at risk amid a long-term decline in ale demand.

Brewing: Carlsberg Britvic plans to close its Marston’s brewery and logistics site in Burton upon Trent in summer 2027, putting about 310 jobs at risk. The group blames a structural decline in ale and plans to sell some brands. Food & Ingredients: Arla Foods Ingredients is preparing three personalized clear whey-protein shake concepts for launch at a US trade show. Payments: Mastercard will expand offline payments across Europe from 2027; the system is already in use in Denmark, allowing card payments during network outages. Nordic Industry Deals: CRH is set to buy NCC Industry operations in Denmark and Finland, while Heidelberg Materials is acquiring NCC materials businesses in Sweden and Norway. Security & Infrastructure: Denmark says Russia has targeted firms supplying weapons to Ukraine. Parliament has also adopted emergency electricity-grid measures that put data centres at the back of the queue. Industry Pulse: Danish industrial output rebounded 0.9%.