Equinor

Equinor ASA is an energy company headquartered in Stavanger, Norway, founded in 1972. The company focuses on the exploration, production, transportation, refining, and marketing of petroleum and petroleum-derived products, in addition to various energy forms, including wind and solar power. Its operations are organized into several segments, including Development & Production in Norway and Brazil, Marketing and Midstream activities, New Energy Solutions, and Exploration. Equinor is involved in the processing and trading of oil and gas commodities, natural gas, and electricity, while also operating refineries, processing plants, and terminals. The company is committed to developing renewable energy projects, including wind and carbon capture initiatives, and has a significant role in the global energy market with a presence across multiple continents. As of the end of 2019, Equinor reported proved oil and gas reserves of 6,004 million barrels of oil equivalent.

Ivar Aune

Investment Director

Jan Ellevset

Investment Director

Bastien Gambini

Investment Director, Statoil Energy Ventures

Erik Jakubowski

Investment Manager

Ingebrigt Masvie

Investment Director

Hoek, Jeroen van der

Investment Manager

41 past transactions

Data Gumbo

Series C in 2022
Data Gumbo Corporation provides a blockchain-based smart contract service. It offers Data Gumbo, a Blockchain-as-a-Service platform that collects the required data, standardizes it for use by the smart contract algorithms, and executes the smart contract on a configurable schedule. The company’s solutions also include Smart Contracts that automates performance-based contracts; creates the commercial Internet; and connect companies with smart contracts. It serves oil and gas industry supply chain clients. Data Gumbo Corporation was founded in 2016 and is based in Houston, Texas with an additional office in Stavanger, Norway.

EtaGen, Inc.

Series D in 2021
EtaGen, Inc. provides power generation services. The company was incorporated in 2010 and is based in Menlo Park, California.

Data Gumbo

Series B in 2020
Data Gumbo Corporation provides a blockchain-based smart contract service. It offers Data Gumbo, a Blockchain-as-a-Service platform that collects the required data, standardizes it for use by the smart contract algorithms, and executes the smart contract on a configurable schedule. The company’s solutions also include Smart Contracts that automates performance-based contracts; creates the commercial Internet; and connect companies with smart contracts. It serves oil and gas industry supply chain clients. Data Gumbo Corporation was founded in 2016 and is based in Houston, Texas with an additional office in Stavanger, Norway.

Earth Science Analytics

Series B in 2020
Earth Science Analytics AS, established in 2012 and headquartered in Stavanger, Norway, specializes in developing cloud-based software solutions for the petroleum geosciences market. The company's primary product, EarthNET, is a web-based and geospatial-oriented software as a service (SaaS) platform that utilizes artificial intelligence to analyze data and predict subsurface rock and fluid properties. Additionally, Earth Science Analytics offers EarthBANK, a geo-data platform for effective data management; EarthGRAPH, a tool for data visualization; and EarthINSIGHT, a decision support tool. The company focuses on enhancing exploration success in challenging geological environments by delivering data-driven predictions that improve efficiency, precision, and cost-effectiveness for clients in the oil and gas exploration and production sector.

Commonwealth Fusion

Series A in 2020
Commonwealth Fusion Systems LLC is a research company focused on developing fusion energy as a sustainable solution to combat climate change. Established in 2017 and based in Cambridge, Massachusetts, the company utilizes advanced rare-earth barium copper oxide superconductor technology to create energy through fusion. Commonwealth Fusion Systems combines decades of government-funded fusion research with innovative superconducting magnet technology to expedite the commercialization of fusion energy. The company emerged from the Massachusetts Institute of Technology and collaborates closely with MIT’s Plasma Science and Fusion Center, leveraging extensive research to enhance its development efforts. By designing and building fusion machines, Commonwealth Fusion aims to provide limitless and clean energy, contributing to the global transition toward sustainable energy sources.

SeekOps

Series A in 2019
SeekOps Inc. specializes in leak detection services for oil and gas service providers and regulators. The company offers quantification and handheld concentration measurement services, catering to customers both in the United States and internationally. Founded in 2017 and based in Austin, Texas, SeekOps delivers comprehensive gas emissions inspection operations to meet industry needs.

Interface Fluidics

Series A in 2019
Interface Fluidics is an international technology company that specializes in reservoir fluid analysis services. Utilizing a proprietary nanofluidic technology platform, the company provides advanced solutions that help organizations gain deeper insights into their reservoirs. This technology enhances the understanding of reservoir characteristics, enabling clients to make more informed and confident production decisions. Through its innovative approach, Interface Fluidics aims to improve the efficiency and effectiveness of reservoir management in the energy sector.

eSmart Systems

Venture Round in 2019
eSmart Systems AS develops smart grid software solutions. The company offers an operational intelligence software solution that accelerates energy savings, optimizes energy investment, and minimizes carbon footprint through energy decisions. It offers eSmart System Platform to collect data from sensors, markets, building automation systems, SCADA, and various relevant sources; and eSmart Grid connected products, such as connected grid, production, building, home, and vehicle product suites, as well as end user applications. The company also develops tailor-made solutions for utilities, and applications for consumers and professionals, as well as assists in business development and innovation processes. eSmart Systems AS was incorporated in 2012 and is based in Halden, Norway with an additional office in Palo Alto, California.

Data Gumbo

Series A in 2019
Data Gumbo Corporation provides a blockchain-based smart contract service. It offers Data Gumbo, a Blockchain-as-a-Service platform that collects the required data, standardizes it for use by the smart contract algorithms, and executes the smart contract on a configurable schedule. The company’s solutions also include Smart Contracts that automates performance-based contracts; creates the commercial Internet; and connect companies with smart contracts. It serves oil and gas industry supply chain clients. Data Gumbo Corporation was founded in 2016 and is based in Houston, Texas with an additional office in Stavanger, Norway.

Reactive Technologies

Series C in 2019
Reactive Technologies is an energy technology company based in London, focused on facilitating the clean energy transition for grid operators, power generators, and renewable asset owners. The company offers GridMetrix, a technology that provides real-time inertia measurements for transmission system operators, enhancing the accuracy of power grid data. Additionally, it offers GridMetrix for distribution network operators, which measures system strength to help address operational constraints. Reactive Technologies also features Tradenergy, a platform that enhances forecasting, risk management, and optimization of flexible energy options. The Dynamic PPA, powered by Tradenergy, allows generators to tap into market opportunities while mitigating imbalance and price risks. Established in 2010, Reactive Technologies aims to promote intelligent energy use and develop innovative solutions for a more sustainable energy industry.

Oxford PV

Series D in 2019
Oxford Photovoltaics Limited develops and commercializes thin-film perovskite solar cells that are printed directly onto silicon solar cells, CIGS solar cells, or glass. Oxford Photovoltaics Limited has a strategic partnership with Meyer Burger Technology Ltd. The company was incorporated in 2010 and is based in Oxford, United Kingdom.

Nesh

Pre Seed Round in 2019
Nesh is a technology company that develops a smart assistant designed specifically for the oil and gas industry. Founded in 2017 and headquartered in Houston, Texas, Nesh's assistant leverages Natural Language Processing to help companies make faster, more informed decisions by organizing and accessing their collective knowledge. The platform facilitates petroleum engineering and geoscience workflows through a conversational interface, allowing users to ask questions related to competitive benchmarking, market intelligence, and technical insights. Nesh's solution autonomously updates insights from various sources, including technical papers and social media, and assists teams in coordinating and monitoring field activities. By streamlining access to critical data and insights, Nesh addresses the industry's challenge of inefficiency in finding essential information, ultimately aiming to enhance oilfield operations and reduce significant cash flow losses.

Yellow Door Energy

Series A in 2019
Yellow Door Energy invests in and operates distributed solar and energy efficiency assets for commercial and industrial customers in the Middle East and Africa. It finances, designs, builds, operates, and maintains the solar plants. The company was founded in 2015 and is based in Dubai, United Arab Emirates with a location in Amman, Jordan.

Scatec ASA

Post in 2018
Scatec Solar is an integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable source of clean energy worldwide. A long term player, Scatec Solar develops, builds, owns, operates and maintains solar power plants, and already has an installation track record of close to 600 MW.

Danske Commodities

Acquisition in 2018
Danske Commodities A/S is an independent energy trading house based in Aarhus, Denmark, with additional offices in Hamburg, Istanbul, and London. Founded in 2004, the company specializes in trading power and gas across borders, providing tailored services to various energy stakeholders, including renewable producers and conventional assets. Its offerings encompass a wide range of solutions such as production management, balancing, market monitoring, and trading for both renewable and conventional energy sources. Additionally, Danske Commodities delivers trading and risk management solutions, consumption management, and optimization services. The company operates in 39 countries worldwide and utilizes its extensive market knowledge and a 24-hour trading setup to support its clients effectively. As of February 2019, Danske Commodities has been a subsidiary of Equinor ASA.

fos4X

Series B in 2018
fos4X GmbH, founded in 2010 and based in Munich, Germany, specializes in the production of fiber optic measurement equipment designed for monitoring lightweight structures. The company focuses on innovative fiber optic sensors that provide enhanced performance compared to traditional sensors, tolerating significantly higher load cycles and strain amplitudes. This technology is particularly beneficial for measuring the efficiency of rotor blades in wind turbines, contributing to improved wind power generation. By leveraging its expertise in fiber optics, fos4X supports material and structural testing, catering to the increasing demands for precision in modern lightweight materials such as glass fiber and carbon fiber reinforced plastics. In September 2020, fos4X was acquired by Polytech A/S, further expanding its reach and capabilities in the measurement technology sector.

Upwing Energy

Venture Round in 2018
Upwing Energy, Inc. specializes in developing artificial lift technology solutions for the natural gas industry. The company offers innovative systems, including Subsurface Compressor Systems, which enhance gas well performance and economic returns by increasing gas production through improved drawdown capabilities. This technology not only boosts recoverable reserves by lowering abandonment pressure but also reduces energy consumption by providing a pressure boost at the compressor's discharge. Additionally, Upwing Energy's magnetic drive system leverages advanced magnetic technologies to operate without mechanical or electrical connections, facilitating enhanced oil production. The company serves both onshore and offshore subsea wells, aiming to maximize production and recovery rates for natural gas resources. Founded in 2015 and headquartered in Cerritos, California, Upwing Energy operates as a subsidiary of Calnetix Technologies, LLC.

Oxford PV

Series D in 2018
Oxford Photovoltaics Limited develops and commercializes thin-film perovskite solar cells that are printed directly onto silicon solar cells, CIGS solar cells, or glass. Oxford Photovoltaics Limited has a strategic partnership with Meyer Burger Technology Ltd. The company was incorporated in 2010 and is based in Oxford, United Kingdom.

EtaGen, Inc.

Series C in 2018
EtaGen, Inc. provides power generation services. The company was incorporated in 2010 and is based in Menlo Park, California.

Petrobras

Post in 2017
Petrobras is driven by the challenge of supplying the energy that propels development and ensures the future of the society with competency, ethics, cordiality, and respect for diversity. They have built a track record of overcoming challenges since 1953, when the company was created. The main one was developing technology to explore and produce oil in deep and ultra-deep waters, where upwards of 90% of their reserves are nestled. Petrobras' Research Center is the biggest in Latin America, and is in constant growth. They undertake their activities with socio-environmental responsibility, and that is why they are among the world's most sustainable corporations. They have been listed on the Dow Jones Sustainability Index since 2006, with the spotlight on the ongoing improvement of the corporate governance practices and on the adoption of international transparency standards.

Ambyint

Series A in 2017
Ambyint Inc. develops artificial lift optimization solutions for exploration & production (E&P) companies. It offers Amplify Real-Time Controller, an end-to-end optimization solution that delivers real-time control, optimization capabilities, physics-based analytics, and modern data science in real-time; and Infinity Optimization Platform that provides real-time visualization for monitoring and control. The company was formerly known as PumpWell Solutions Ltd. and changed its name to Ambyint Inc. in 2012. Ambyint Inc. was founded in 2004 and is based in Calgary, Canada.

Oxford PV

Series C in 2017
Oxford Photovoltaics Limited develops and commercializes thin-film perovskite solar cells that are printed directly onto silicon solar cells, CIGS solar cells, or glass. Oxford Photovoltaics Limited has a strategic partnership with Meyer Burger Technology Ltd. The company was incorporated in 2010 and is based in Oxford, United Kingdom.

Oxford PV

Series C in 2016
Oxford Photovoltaics Limited develops and commercializes thin-film perovskite solar cells that are printed directly onto silicon solar cells, CIGS solar cells, or glass. Oxford Photovoltaics Limited has a strategic partnership with Meyer Burger Technology Ltd. The company was incorporated in 2010 and is based in Oxford, United Kingdom.

Convergent Energy and Power

Funding Round in 2016
Convergent Energy + Power is a technology-neutral energy storage asset developer with experience across a wide range of projects, from commercial and industrial applications to grid-connected systems. The company manages all aspects of the energy storage asset development cycle, including project-specific opportunity identification and economic evaluation, contract and financial structuring, engineering-procurement-construction, as well as operations and maintenance.

Carbon Trust

Venture Round in 2016
Our mission is to accelerate the delivery of a sustainable, low carbon economy by helping businesses, governments and organisations across the globe to reduce carbon emissions and increase resource efficiency. We have a global team of more than 200 sustainability experts, including engineers, financiers and policy specialists, and almost two decades of experience in the climate change sector. We reinvest surpluses from group commercial activities into our mission.

LUX Assure

Venture Round in 2016
LUX Assure is a division of LUX Innovate Limited. LUX specialises in delivering robust, highly sensitive and simple to use chemical monitoring technologies for both offshore and onshore use. The novelty of their approach has been recognised by the oil and gas industry and they have won awards for innovation. Their products include technologies for monitoring scale, corrosion and hydrate inhibitors in both water and hydrocarbons.

United Wind

Series B in 2016
United Wind offers a range of small-scale wind turbine leases along with installation services for farms, businesses, and homeowners. It manages everything from lease approval, permitting to installation and maintenance. These leases involve no upfront cost and help customers save money on electricity expenses. The company's WindLease lets them make the switch to cost-effective wind energy without traditionally high upfront costs. United Wind was founded by Russell Tencer and Tal Mamo in January 2013 and is based in Brooklyn, New York.

Corvus Energy

Corporate Round in 2015
Corvus Energy Ltd. engages in the research, development, manufacture, and supply of energy storage solutions for marine, oil and gas, and port applications. The company offers energy storage systems for hybrid and electric propulsion. Its services include technical support, spare parts, extended warranty, recycling, field service, training, consulting, upgrades, and concierge service agreement. The company serves cruise and ferry, offshore, fishing and aquaculture, tugs and workboats, subsea, merchant, and port markets. Corvus Energy Ltd. was founded in 2009 and is headquartered in Richmond, Canada.

Quantico Energy Solutions

Series A in 2015
Quantico Energy Solutions is a data analytics company based in Houston, Texas. The company’s focus is on providing the oil and gas industry with data-driven solutions that address major challenges in the development of shale resources worldwide. Our company employs a leading team of professionals from the oil and gas industry. The team has expertise in machine learning software, open hole logging tool design, petrophysics and completion engineering. We develop proprietary software to predict synthetic formation evaluation logs by utilizing only the information commonly gathered during the drilling process.

LUX Assure

Funding Round in 2013
LUX Assure is a division of LUX Innovate Limited. LUX specialises in delivering robust, highly sensitive and simple to use chemical monitoring technologies for both offshore and onshore use. The novelty of their approach has been recognised by the oil and gas industry and they have won awards for innovation. Their products include technologies for monitoring scale, corrosion and hydrate inhibitors in both water and hydrocarbons.

Verdande Technology

Venture Round in 2012
Verdande Technology formerly Volve AS develops products and services for the re-use of knowledge. There core technology is based on the principle of case based reasoning; a process of solving new problems, based on the solutions of similar past problems, and has applications across industries

Numascale

Series B in 2012
Numascale AS develops computer system interconnect technology that allows computer system vendors to build big data analytics appliances for enterprise servers. It offers NumaQ, a terascale in-memory analytics appliance for running data analytics workload in-memory; NumaQ R Appliance, a statistical programming language and environment that provides R with the memory it needs for massive data set computations; MonetDB, a column-store database integrated with R for a database centric analytics platform; and in-memory analytics appliance for running data analytics workload in-memory. The company was founded in 2008 and is based in Oslo, Norway. Numascale AS operates as a subsidiary of Dolphin Group ASA.

Brigham Exploration

Acquisition in 2011
Brigham is an independent exploration and production company that applies 3-D seismic imaging and other advanced technologies to systematically explore and develop onshore domestic natural gas and oil provinces. With this focus, Brigham has achieved rapid growth in reserves, potential drilling locations and 3-D seismic data.
Danotek Motion Technologies Inc, founded in 2001, in Ann Arbor, Michigan is an ISO 9001:2000 certified technology innovator. Danotek develops clean, energy efficient, generators, electrical conversion systems, brushless motors and electronics controls for alternative energy and advanced transportation applications. Danotek has developed a number of patent-pending innovative products that include variable speed permanent magnet (PM) generators and brushless motors with integrated electronics for wind power, fuel cell, CHP, auxiliary power and electric and hybrid electric vehicles. Their designs represent industry leadership and are expected to replace inefficient and unreliable systems with added extensive control features.
Danotek Motion Technologies Inc, founded in 2001, in Ann Arbor, Michigan is an ISO 9001:2000 certified technology innovator. Danotek develops clean, energy efficient, generators, electrical conversion systems, brushless motors and electronics controls for alternative energy and advanced transportation applications. Danotek has developed a number of patent-pending innovative products that include variable speed permanent magnet (PM) generators and brushless motors with integrated electronics for wind power, fuel cell, CHP, auxiliary power and electric and hybrid electric vehicles. Their designs represent industry leadership and are expected to replace inefficient and unreliable systems with added extensive control features.

Pelamis Wave Power

Venture Round in 2008
Pelamis Wave Power is the manufacturer of a unique system to generate renewable electricity from ocean waves. The Pelamis Wave Energy Converter is a revolutionary concept, the result of many years of engineering development by PWP. It was the world’s first commercial scale machine to generate electricity into the grid from offshore wave energy and the first to be used in commercial wave farm projects.

BrightSource Energy

Series C in 2008
BrightSource Energy designs and builds large scale solar plants that deliver low-cost solar energy in the form of steam and/or electricity, at prices competitive with fossil fuels, to industrial and utility customers worldwide. BrightSource Energy enables industrial and utility companies to lessen their dependency on fossil fuels by providing a low cost, reliable source of clean energy during periods of peak usage. BrightSource Energy's corporate headquarters are located in Oakland, California.

Opax

Series B in 2008
By using intelligent algorithms OPAX solution can understand what a video feed from a CCTV system is showing, and hence sound alarms if needed or simply register events for future forensics. OPAX solutions improve quality and lower the costs of surveillance with cutting-edge technology used and proven in demanding applications around the globe. With a military heritage and strong R&D capabilities, OPAX are able to engineer analytics software that meets the needs of challenging outdoor surveillance situ¬ations. OPAX convert passive CCTV systems to ac¬tive components of a modern security in¬frastructure, improving surveillance quality and automating labor-intensive tasks. OPAX serve the high-end security market with high-end software that reliably strengthens perimeter protection. It’s a technology shift that is transforming the security industry.

Verdande Technology

Seed Round in 2007
Verdande Technology formerly Volve AS develops products and services for the re-use of knowledge. There core technology is based on the principle of case based reasoning; a process of solving new problems, based on the solutions of similar past problems, and has applications across industries

Tampnet

Acquisition in 2001
Tampnet AS is a Norwegian company that operates the largest offshore communication network in the world, primarily in the North Sea and the Gulf of Mexico. Founded in 2001 and headquartered in Stavanger, Norway, it provides high-speed, low-latency connectivity through a network of fiber optics, offshore 4G LTE, and microwave links. The company serves over 350 offshore installations, including oil and gas platforms, floating production storage and offloading units, and exploration rigs. With additional offices in locations such as Aberdeen, Katy, Scott, Hoofddorp, Crows Nest, and Rio de Janeiro, Tampnet aims to enhance operational quality, safety, efficiency, and welfare for its clients by delivering reliable connectivity that links offshore assets to robust terrestrial networks.