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Innovation Norway company logo
Government
BUSINESS PRODUCTS & SERVICES | Consulting & Outsourcing / Management & Strategy Consulting
innovasjonnorge.no

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Investments

101

Portfolio Exits

8

Partners & Customers

4

About Innovation Norway

Innovation Norway is the Norwegian Government's most important instrument for the development of Norwegian enterprises and industry. Innovation Norway promotes nationwide industrial development to both the business economy and Norway's national economy, and helps release the potential districts and regions by contributing to innovation, internationalization and promotion.

Innovation Norway Headquarter Location

Pb. 448 Sentrum Akersgata 13

Oslo, 0104,

Norway

+47 22 00 25 00

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Innovation Norway Web Traffic

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Page Views per Million (PVPM)
Reach per Million (RPM)
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Innovation Norway Rank

Latest Innovation Norway News

Norwegian Green Platform Initiative awarding $11M to support sustainable battery production

Feb 22, 2022

Norwegian Green Platform Initiative awarding $11M to support sustainable battery production FREYR Battery announced that the Research Council of Norway, Innovation Norway, and Siva have granted $11 million (NOK 100 million) through the Norwegian Green Platform initiative to a consortium of companies, including FREYR. The initiative is intended to provide a platform to establish sustainable battery production. The consortium of companies will, together with SINTEF and the Institute for Energy Technology (IFE), initiate the project “Sustainable Materials for the Battery Value Chain” (SUMBAT). The companies will work together to reduce their respective environmental footprints along the entire value chain, from the production of active battery materials to cell production, modeling of battery downgrading, safety and recycling. The Green Platform provides companies and research institutes with support for research- and innovation-driven energy transformation. The project has been thoroughly evaluated, both by national and international experts. The Green Platform Initiative was part of the Government’s third package of financial measures launched in May 2020 in response to the coronavirus pandemic. The Government then granted (US$111 million) billion over a period of three years to a green transition of the industrial sector. It is through research and innovation that we create tomorrow's sustainable society. A green platform is an important measure to ensure profitable green transition and will contribute to us becoming more skilled at scaling up and linking research to the market. With the Green Platform, the policy instruments stimulate more value-creating low-emission industries, jobs and export opportunities. —Minister of Trade and Industry Jan Christian Vestre FREYR has commenced building the first of its planned factories in Mo i Rana, Norway and announced potential development of industrial scale battery cell production in Vaasa, Finland and the United States. FREYR intends to deliver up to 43 GWh of battery cell capacity by 2025 and up to 83 GWh annual capacity by 2028.

Innovation Norway Investments

101 Investments

Innovation Norway has made 101 investments. Their latest investment was in Consigli as part of their Grant on June 6, 2022.

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Innovation Norway Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/20/2022

Grant

Consigli

$0.8M

Yes

1

6/13/2022

Grant

Octavic

$0.8M

Yes

1

12/15/2021

Loan

Nofence

$1.66M

Yes

1

10/6/2021

Grant

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$99M

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10

9/27/2021

Grant

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$99M

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10

Date

6/20/2022

6/13/2022

12/15/2021

10/6/2021

9/27/2021

Round

Grant

Grant

Loan

Grant

Grant

Company

Consigli

Octavic

Nofence

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Amount

$0.8M

$0.8M

$1.66M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

1

1

1

10

10

Innovation Norway Portfolio Exits

8 Portfolio Exits

Innovation Norway has 8 portfolio exits. Their latest portfolio exit was Vibbio on April 21, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

4/21/2022

Acquired

$99M

3

9/23/2021

Acquired

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$99M

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10

12/21/2020

Acquired

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$99M

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10

11/17/2020

Acquired

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$99M

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10

10/16/2020

IPO

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$99M

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10

Date

4/21/2022

9/23/2021

12/21/2020

11/17/2020

10/16/2020

Exit

Acquired

Acquired

Acquired

Acquired

IPO

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

3

10

10

10

10

Innovation Norway Partners & Customers

4 Partners and customers

Innovation Norway has 4 strategic partners and customers. Innovation Norway recently partnered with Aker BioMarine on April 4, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

4/1/2022

Partner

Norway

Aker BioMarine joins Innovation Norway and Aker ASA initiative to accelerate the green transition

Innovation Norway and Aker ASA signed an agreement to join forces to increase Norwegian exports and strengthen the country 's position as an industrial leader in green technology and sustainability .

1

1/4/2022

Partner

Norway

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10

12/9/2021

Partner

United States

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10

Vendor

United States

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10

Date

4/1/2022

1/4/2022

12/9/2021

Type

Partner

Partner

Partner

Vendor

Business Partner

Country

Norway

Norway

United States

United States

News Snippet

Aker BioMarine joins Innovation Norway and Aker ASA initiative to accelerate the green transition

Innovation Norway and Aker ASA signed an agreement to join forces to increase Norwegian exports and strengthen the country 's position as an industrial leader in green technology and sustainability .

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Sources

1

10

10

10

Innovation Norway Team

2 Team Members

Innovation Norway has 2 team members, including current Chief Executive Officer, Anita K. Traaseth.

Name

Work History

Title

Status

Anita K. Traaseth

Chief Executive Officer

Current

Anita Krohn Traaseth

Chief Executive Officer

Former

Name

Anita K. Traaseth

Anita Krohn Traaseth

Work History

Title

Chief Executive Officer

Chief Executive Officer

Status

Current

Former

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