ProVenture

ProVenture Management AS, established in 2006, is a Norwegian venture capital firm specializing in seed and early-stage investments. It focuses on sectors such as energy, oil and gas technology, marine and material technology, process and medical technology, and information and communication technology. ProVenture typically invests in Norwegian-based companies, often acting as a lead investor in the initial phase and seeking co-investors. With over a billion Norwegian Kroner under management across three seed funds, the firm is a member of the Norwegian Venture Capital Association.

Tom Arnøy

Senior Partner

Sylvi Saure Finsrud

Investment Manager

Thor Egil Five

Partner

Fredrik Hvistendahl

Senior Partner

Geir Kjesbu

Senior Partner

Borgar Ljosland

Senior Partner

Herbjørn Skjervold

CEO

Past deals in Oil and Gas

Scale Protection

Venture Round in 2017
Scale Protection AS is a Norwegian company headquartered in Harstad, established in 2010. It specializes in scale management solutions for oil and gas wells, aiming to prevent scale deposition that can hinder production efficiency. The company offers a range of products and services, including scale monitoring through advanced technologies such as scanning electron microscopy and downhole monitoring tools. Additionally, Scale Protection provides squeeze placement, modeling, and advisory services to enhance well management. By focusing on cost-effective, non-chemical methods for scale prevention, Scale Protection aims to improve operational performance for its clients in the energy sector.

Xsens

Venture Round in 2017
Xsens AS, established in 2013 and based in Bergen, Norway, specializes in developing non-invasive measurement systems tailored to the oil and gas industry. The company's core business involves creating high-accuracy, intelligent systems designed for standard process pipe installations, focusing on process optimization, flow assurance, and integrity measurement. Xsens AS is a spin-off from Christian Michelsen Research (CMR) AS.

Seabed Separation

Venture Round in 2015
Seabed Separation is a technology company specializing in oil and gas processing. It has pioneered a dual-pipe separator, enabling water removal and treatment directly at the seabed, reducing costs and enhancing production efficiency.

Ace Oil Tools

Venture Round in 2015
Ace Oil Tools AS is a Norway-based company, established in 2012, that specializes in providing stop collars and anchoring solutions for downhole applications in the energy sector. The company focuses on the development of tools designed to securely lock additional downhole components onto various tubes, ensuring effective installation and reliable anchoring of equipment. Ace Oil Tools' product line includes stop collars for elevators and ratchet collars, aimed at protecting control lines and enhancing operational efficiency in the energy industry.

Verdande Technology

Venture Round in 2012
Verdande Technology, previously known as Volve AS, specializes in developing innovative products and services that facilitate the re-use of knowledge through advanced reasoning technology. Its core technology employs case-based reasoning, allowing users to address new challenges by leveraging solutions from similar past experiences. This approach is particularly beneficial for industries such as oil and gas, where the company provides tools that assist in interpreting drilling data. By identifying, capturing, and analyzing data patterns in real-time, Verdande Technology enables clients to predict future problems, diagnose issues, and uncover potentially impactful events. This capability empowers organizations to make informed decisions and enhance operational effectiveness.

Verdande Technology

Venture Round in 2010
Verdande Technology, previously known as Volve AS, specializes in developing innovative products and services that facilitate the re-use of knowledge through advanced reasoning technology. Its core technology employs case-based reasoning, allowing users to address new challenges by leveraging solutions from similar past experiences. This approach is particularly beneficial for industries such as oil and gas, where the company provides tools that assist in interpreting drilling data. By identifying, capturing, and analyzing data patterns in real-time, Verdande Technology enables clients to predict future problems, diagnose issues, and uncover potentially impactful events. This capability empowers organizations to make informed decisions and enhance operational effectiveness.

Sorbwater Technology

Venture Round in 2010
Sorbwater Technology AS is a Norwegian company specializing in environmental services for the oil and gas industry, focusing on the purification of water and wastewater. Established in 2007 and based in Bergen, the company offers a range of innovative technologies, including Sorbfloc, a biodegradable flocculent that aids in wastewater treatment, and Sorbsep, which effectively separates hydrocarbons from produced water. Additionally, Sorbwater provides the Sorbpol, an automated polishing reactor designed to prevent clogging and reduce maintenance needs. Their comprehensive water treatment systems are designed to work across various applications, such as separating pollutants, treating slop and grey water, and preparing water for disinfection processes. Sorbwater's solutions not only enhance environmental protection by minimizing harmful discharges but also aim to reduce treatment costs for clients. While the company primarily targets the upstream oil and gas market, its technologies have potential applications in other sectors like mining and petrochemical refining.

GasSecure

Seed Round in 2009
GasSecure is a company that specializes in developing and manufacturing wireless infrared hydrocarbon gas detectors for industrial applications, particularly in the oil and gas sector. Founded in 2008 by Knut Sandven and Hakon Sagberg, the company focuses on MEMS-based low-power gas detection technology and safe wireless communication solutions. GasSecure's products are designed for use in various environments, including offshore platforms, onshore terminals, tank farms, and gas processing and petrochemical plants. In March 2015, the company was acquired by Drager USA, enhancing its capabilities in providing innovative safety solutions in hazardous industrial settings.

Dynamic Rock Support

Seed Round in 2009
Dynamic Rock Support is a Trondheim-based company, established in 2008, that specializes in providing industrial safety and cost-saving solutions for underground mining operations. The company manufactures energy-absorbent elements for rock reinforcement, including innovative products such as face plates that effectively absorb energy without damaging mesh or shotcrete. By focusing on optimizing mine operations, Dynamic Rock Support aims to reduce bolt failure, enhance mine safety, and extend the lifecycle of mining sites through improved reinforcement methods for unstable rock. Additionally, the company offers a range of services related to concrete structures, transport, and underground logistics, contributing to overall operational efficiency in the mining sector.

Verdande Technology

Seed Round in 2007
Verdande Technology, previously known as Volve AS, specializes in developing innovative products and services that facilitate the re-use of knowledge through advanced reasoning technology. Its core technology employs case-based reasoning, allowing users to address new challenges by leveraging solutions from similar past experiences. This approach is particularly beneficial for industries such as oil and gas, where the company provides tools that assist in interpreting drilling data. By identifying, capturing, and analyzing data patterns in real-time, Verdande Technology enables clients to predict future problems, diagnose issues, and uncover potentially impactful events. This capability empowers organizations to make informed decisions and enhance operational effectiveness.

Aptomar

Seed Round in 2007
Aptomar is a prominent provider of integrated field monitoring sensors, systems, and services tailored for the oil and gas industry. Headquartered in Trondheim, Norway, with additional offices in Houston, USA, and Rio de Janeiro, Brazil, the company is dedicated to enhancing safety and environmental integrity through advanced monitoring solutions. Aptomar specializes in 24/7 oil spill detection and response, surveillance, security, and search and rescue operations, collaborating closely with industry stakeholders. Utilizing proprietary technology alongside commercially available sensors, Aptomar consolidates remotely monitored data into a unified display, enabling real-time situational awareness. Trained operators analyze this data to provide timely alerts and support to offshore operators during incidents. In response to industry demands for a more systematic approach to field monitoring, Aptomar established Aptomarin, a maritime control center in Trondheim, which offers continuous monitoring and emergency response management staffed by experienced maritime professionals.

Verdande Technology

Venture Round in 2006
Verdande Technology, previously known as Volve AS, specializes in developing innovative products and services that facilitate the re-use of knowledge through advanced reasoning technology. Its core technology employs case-based reasoning, allowing users to address new challenges by leveraging solutions from similar past experiences. This approach is particularly beneficial for industries such as oil and gas, where the company provides tools that assist in interpreting drilling data. By identifying, capturing, and analyzing data patterns in real-time, Verdande Technology enables clients to predict future problems, diagnose issues, and uncover potentially impactful events. This capability empowers organizations to make informed decisions and enhance operational effectiveness.
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